The Contribution of Government Incentives to Transport Sector Electrification

Carbon emissions will be greatly reduced when EVs are widely used. But for a variety of reasons, EV uptake has been sluggish. The high price of EVs is one of these factors. Governments have intervened, providing incentives to lower the cost of EVs and promote their uptake. The significance of government incentives in accelerating the electrification of the transportation industry is examined in this article. EVs’ Exorbitant Cost The adoption of EVs has been hampered by their expensive cost. EVs are more expensive than traditional gasoline and diesel cars. Numerous factors contribute to the high cost, such as the price of batteries, the absence of infrastructure, and low economies of scale. The high price of EVs is largely due to the cost of batteries. A sizeable amount of an EV’s overall cost is related to battery expenditures. The cost of producing batteries is high, and the science of batteries is still relatively new. Low battery costs are anticipated as manufacturing processes become more efficient and battery technology advances. The Function of Public Incentive Programs Governments have implemented incentives to lower the cost of EVs after realizing how important it is to promote EV adoption in order to minimize carbon emissions.…

The Wall Street Journal: VinFast is a startup car company with great aspirations and bravery

“VinFast is considered to compete with Tesla and other major American automakers in the domestic market. US President Joe Biden also commented that this is “the latest proof that his economic strategy is working”, The Wall Street Journal – America’s leading economic and financial newspaper, recently said. There is an article commenting on the strategy and prospects of the Vietnamese car company. “Rookies” are welcomed by the US government VinFast – an electric car company established just 6 years ago, has made rapid progress when launching car models with modern designs thanks to joining hands with “giants” such as BMW and leading designers of Vietnam. Italy also successfully recruited many talented people in the industry. VinFast is considered to compete with Tesla and other major US automakers in the domestic market. Mr. Roy Cooper – Governor of North Carolina said that his administration praised VinFast’s decision to build a factory and emphasized that this is the largest economic development project in the state’s history. US President Joe Biden also commented that this is “the latest proof that his economic strategy is working”. VinFast’s bold decision to list on the Nasdaq stock exchange, along with the company’s ambitious plans, has attracted…

What does VinFast have after more than 1 year of switching to electric cars?

In July 2022, VinFast announced to stop selling gasoline cars and completely convert to producing and trading electric vehicles. This announcement was made 5 months earlier than the previous plan. In just less than 2 years, VinFast has introduced 6 completely new pure electric car models to customers, which is something few car manufacturing brands can do. The product range is extensive VinFast started to expand into electric vehicles with the VF e34 series, this C-size SUV model was officially introduced in October 2021. At that time, this was a rare pure electric car model opened for sale on the market and was also the first electric car model produced in Vietnam. Unlike the electric car models introduced later by VinFast, VF e34 is an electric car model exclusively for the Vietnamese market. After VF e34, VinFast brings customers the D-class SUV VF 8. This is also the first global electric car model for sale in USA, Canada, France, Germany,… Not long after delivering the VF 8 at the end of last year, the top model VF 9 was also introduced and will be delivered to pioneer customers very soon. VF 8 and Christmas vibes In December 2022, VinFast officially…

VinFast VF 8 Updates: Changing Lanes and Changing Minds

In response to consumer input, VinFast is improving the VF 8 with new revisions that include better interior design and enhanced technologies. This article offers an overview of the useful advancements that VinFast has put in place to improve the VF 8 driver and passenger experience overall. To improve primary and secondary ride comfort, VinFast has adjusted the VF 8’s suspension system, vehicle height, damper tuning, and spring tuning. Particularly benefited by these upgrades are second-row passengers, who report a noticeable decrease in choppiness and bumpiness. A discernible difference is also made by the redesigned noise-canceling architecture, which successfully lowers road noise and improves passenger comfort throughout the interior. Improved wind noise isolation improves the car’s acoustic comfort even more, making for a calm ride even at fast speeds. All VinFast cars, including the VF 8, are constructed with an extensive array of safety features and clever ideas. In the VF 8, the advanced digital security system instantly notifies emergency services in the case of an accident, and VinFast recently improved its heads-up display to keep drivers’ eyes on the road. Furthermore, the Emergency SOS button prioritizes the occupants’ safety and well-being by offering a prompt and effective means of…

Investigating the Environmental Advantages of VinFast Electric Vehicles

Within the rapidly changing field of automotive technology, electric vehicles (EVs) are gaining significant attention as they represent a paradigm change beyond just mobility. Beyond only lower emissions, electric vehicles (EVs) provide a host of other environmental advantages through the use of cutting-edge technology and renewable energy. VinFast, the country’s first car manufacturer and, by far, the first producer of electric vehicles in Vietnam, explores the essence of their goal to create a more sustainable future by examining the ways in which the electric vehicles they support contribute to a future that is cleaner, greener, and more sustainable.  Outputs Compared to gasoline or diesel vehicles, electric vehicles have substantially lower greenhouse gas emissions, which is one of its most obvious and immediate environmental benefits. Since VinFast electric SUVs are driven by electricity, they have zero tailpipe emissions, such as the VF 8 and VF 9. As a result, dangerous pollutants that cause air pollution and global warming, such as carbon dioxide, nitrogen oxides, and particulate matter, are removed from consideration.  The electric cars made by VinFast have the potential to significantly lower overall energy use. These fashionable electric SUVs are well-known for being energy-efficient and converting a larger portion of…

This US city has banned the construction of new gas stations due to the increase in electric vehicles

At least two electric vehicle chargers must be installed at every new gas stations that are constructed. A US city has decided to prohibit the opening of new gas stations due to politicians’ “obligation” to address climate change.  There are currently five stations in Lousiville, Colorado, a town of about 21,000 inhabitants close to Denver. Although a sixth was just authorized, it might be the city’s final one.  As per the latest municipal legislation, it may be inferred that prohibiting gasoline stations could potentially encourage the adoption of electric vehicles (EVs) which would lower vehicle emissions and promote the use of cleaner, low-carbon energy choices for transportation.  It goes on to say that the reason a cap on gas stations rather than a complete ban is being considered is that demand will persist as more electric vehicles are gradually introduced.  According to the law, all new gas stations that are given a waiver from the prohibition or those that undergo modifications must also install two electric vehicle chargers. Additionally, they must be separated from current ones by at least 1000 feet, or little over 300 meters.  The building of new gas stations was prohibited until September 2023 by an emergency…

California’s investments in the climate 

In addressing the climate catastrophe, California has taken the lead under Governor Gavin Newsom.  The state of California is most affected by climate change. California has had catastrophic wildfires, heat waves that broke records, and severe droughts. The costs of inaction on climate change are too high. The cost of extreme weather events to US taxpayers in 2022 alone was $165 billion.  California is eschewing fossil fuels in a big way. By 2035, we will have reduced our reliance on oil by ceasing to sell new gas-powered vehicles. A measure to gradually stop the manufacturing of hazardous oil in our communities was signed by Governor Newsom.  The extraordinary, multibillion-dollar climate budget that Governor Newsom proposed includes:  Addresses the problems of wildfires and drought  Aids in communities’ weather adaptation  Supports the state’s objectives for zero-emission vehicles  Provides energy that is inexpensive, dependable, and clean.  Saves money for Californians and builds thriving communities  These innovative global climate policies are having an impact.  The majority of clean energy jobs in the US are located in California.  The clean car and renewable energy sectors are driving the country’s growth.  California surpassed its 2020 climate target six years early.  California produced six times as many…

The IEA projects that global emissions will peak by 2025 for the first time ever

As per the IEA’s recently issued “World Energy Outlook 2023,” clean energy has the potential to revolutionize the global energy system by 2030. Solar and electric vehicles (EVs) in particular are offering “hope for the way forward.”   According to the International Energy Agency (IEA), the global energy grid in 2030 will have nearly ten times as many EVs on the road as there were in 2023. The authors observe that in 2020, 1 in 25 automobiles sold were electric; by 2023, that number has dropped to 1 in 5. Given this, it is easy to see how the momentum for EV adoption will continue to grow significantly over the next ten years.   According to IEA projections, solar energy will surpass the existing electricity generation capacity of the US power system by 2030. It projects that the proportion of renewable energy in the world’s electrical mix will increase from about 30% to over 50%. According to this analysis, new offshore wind projects will receive three times as much funding as new coal and gas-fired power facilities. Heat pumps and other electric heating technologies are predicted to outsell fossil fuel boilers worldwide.   “The global shift to clean energy is occurring and will…

Colorado adopts California’s EV regulations in part, but falls short of the 2035 prohibition

A new Colorado Clean Car rule, which generally mirrors California’s “Advanced Clean Cars 2” law but stops short of establishing a 2035 deadline for 100% EV sales, was overwhelmingly passed by the Air Quality Control Commission of Colorado.   By 2035, all new cars sold in California will be electric vehicles, according to a rule that was finalized last year. Between now and 2035, the rule aims to increase the percentage of new EV sales, with 100% ZEV and PHEV sales by that time.   Given that California is the US state with the highest EV adoption rate (and could probably stand to exclude PHEVs as well), we remarked at the time (and still do) that this deadline could have been accelerated for the Golden State. The California Air Resources Board argued that by adopting a more liberal standard, other states would be more likely to follow suit and form a larger group of states that could drive the auto industry in the right direction.   Several additional states, including New York, Washington, Oregon, Vermont, Massachusetts, Rhode Island, New Jersey, and Maryland, have thus far accepted the regulation. Even better, Washington has chosen 2030 as the target year rather than 2035.   Colorado joined…

US Government Announces Plan to Replace Federal Vehicle Fleet with Electric Vehicles 

The federal government is planning to spend $770 million on zero-emission vehicles and charging stations in fiscal 2023 as agencies begin ramping up to meet President Biden’s ambitious timeline to phase out gas-guzzling cars and trucks.   Agencies plan to buy 9,500 ZEVs in fiscal 2023, according to a Government Accountability Office report, which federal fleet offices project will cost $470 million. That marks a $200 million increase over what it would cost agencies to buy the cheapest available vehicles. They will spend another $300 million on 8,500 charging stations, provided they have the funding to do so.   In fiscal 2022, agencies fell short of their ZEV goals in part due to inadequate funding. Meeting targets is also contingent on the availability of mission-appropriate vehicles from manufacturers. The Transportation Department, for example, has run into issues with limited quantities of electric vehicles available. It had hoped to purchase 430 EVs in fiscal 2022, but only received 292 after manufacturers canceled some of the orders. The Energy Department estimated one-in-four EV orders by federal agencies in fiscal 2022 were canceled. Other agencies, such as Customs and Border Protection, said no current electric vehicle technology can support its needs in extreme environments at…