In 2021, the European Commission (EC) proposed that automakers would need to reduce CO2 emissions 90% to help achieve climate neutrality (below a 1.5 degrees Celsius temperature increase) by 2050. There are several levers at the industry’s disposal to achieve this target.
Measures to tackle scope 1 and scope 2 emissions, such as electrifying the global vehicle parc and powering factories with renewable energy, are within OEMs’ direct control. According to the International Council on Clean Transportation, Tesla, BYD, and BMW are among those leading the way in terms of electric market dominance, technology performance, and strategic vision.
