Leading businesses target electrification of 2m vehicles globally by 2030

By Andrew Ryan

4 February 2019

Leading companies around the world are targeting the electrification of more than 2 million vehicles by 2030, says The Climate Group.

The organisation, through its EV100 initiative, brings together 31 companies with a combined revenue of more than half-a-trillion US dollars.

The report covers the commitments of 23 member companies. Together they are switching 145,000 vehicles to electric in 66 markets worldwide by 2030, saving over 6.6 million metric tons of CO2.

More than 95% of these businesses cite reducing greenhouse gas emissions as a ‘very significant’ or ‘significant’ driver for switching, and 80% cite the need to tackle air pollution. A third identify financial savings as an incentive.

Helen Clarkson, CEO of The Climate Group, said: “With countries pledging to end sales of the combustion engine and cities bringing in low or zero emission zones, forward-thinking companies are getting ahead of the curve now by switching to electric vehicles.

“The private sector has an instrumental part to play in bringing down emissions and cleaning up our air – and there are big opportunities for companies taking action now here in the UK.”

Among the companies in EV100 are Ingka Group (formerly Ikea Group), Deutsche Post DHL Group and Bank of America.

Ingka Group (formerly IKEA Group) is future-proofing its operations by switching to EVs. Due to future limits on vehicle emissions in Amsterdam’s city centre, from 2025 it would lose direct access through deliveries to more than 390,000 households and US$30.2 million turnover per year.

The retailer has committed to 100% zero-emission last-mile deliveries in five major cities by 2020 – and last month reached this goal in Shanghai one year early.

More than 24 cities have committed to establish low emission zones by 2030 and more than a dozen countries worldwide have pledged to end sales of combustion engine vehicles by 2040 or before.

More than half of them are targeting 2030 or sooner – including Denmark, Ireland, Norway, the Netherlands and Costa Rica.