So the global climate summit, cope 26, concluded in november, reconfirms the goal that countries are call on to reach net zero carbon emission by 2050. So this has been already the fact that we all understand with such goals say that electric vehicles become inevitable and unstoppable for the next few minutes. We are going to share with you recent news that we find worth reading about future mobility in global markets. Now lets start with europe. The european union has a plan to cut greenhouse gas emissions by at least 55 by 2030 and to make europe climate neutral by 2050.. So european union even proposed phasing out new internal combustion car by 2035. in quarter 3 of 2021. Nearly one in five cars sold in the? U was an electrified model, including bevs and phevs, and the cells will continue to soar while fossil fuel cars slump. According to car class index 2021 by lees plan uk in october, evs are now more affordable than ever across. Europe and now its a clear fact with eyes on the huge eevee market, chinas, electric car makers, including neil saik byd, are making moves on europe with their evs, but they still need time to get inferned foothold. On the other hand, european oes are taking their moves too. For example, volkswagen has its new auto strategy and ends accelerate electric vehicle shift. Its ceo harper ds word that volkswagen could lose 30 000 jobs if it transitioned too slowly to full electric vehicles earlier in november.

After that, a specifically conveyed volkswagen committee was summoned to discuss the future of harper ds in response to tensions between management and its works. Console lets switch to the united states president joe bidens new proposal fights with detroits automakers on ev credits. They will be able to offer 4 500 more in tax credits to u.s electric car buyers than rivals such as tesla toyota and volkswagen whats. More 12 major international automakers have urged california senators to oppose such proposal of union easy tax credit, even without tax credits. Teslas evs are still popular in the united states from january to august this year, tesla accounts for 66 of the bev market share in the united states and tesla hit a one trillion market cap for the first time by the end of october. After hers announced it will grow its flea of bevs with an initial order of a hundred thousand tesla by the end of 2022. President bidens executive order ensuring the future is made in art of america by all of americas. Workers has attracted investment from two chinese apple partners, foxconn and pegatron to the u.s to collaborate with ev makers, fisker, lewistown and tesla Music. You might be wondering what happened in china. So currently, china is experiencing severe domestic power shortage with stifled chinese demand of electric vehicles. As charging stations in parts of the country suspend operations, several key apple and tesla suppliers have halted production at some of their chinese facilities to comply with beijings, tighter energy consumption policy.

The gross potential of evs and neo magnets drive demand for rare earth elements to levels. Never seen before china will raise this years quota on the production of rare earth metals by 20 percent. The government set in the end of september as a move to secure a supply chain that is immune from u.s sanctions. Finally, lets talk about asean. Indonesia has been a number of unprices or exports, including nickel, tin and copper in a bid to encourage downstream industries, including producing batteries for evs and aluminum industry. South koreas, hyundai motor group and lg energy solution kick off the construction of a 1.1 billion electric vehicle battery plant in indonesia in september hyundai motor group even vows to cooperate with the indonesian government in establishing an electric vehicle ecosystem locally and will start production by 2022.. Its not just south korea actually taiwanese electric scooter maker and tech company, goku rope and indonesian ride housing. Company gojack will launch a pilot program to test scooters with swappable batteries in jakarta. Indonesia here are four takeaways of the day, the first one. It might not be easy for legacy automakers to be fully electrified as short notice, but electrification is not future yet to come. Its already happening and the second governments play a significant role in the development of future mobility policies to phase out ice cars will continue to spur ev production mobile. Thirdly, meat and small size evs may be the main products that accelerate global ev market penetration.

The last but not least, demand for rare earth metals used in ev batteries such as cobalt, lithium and nickel will soar and prospect of shortages is so thats for todays eight minutes on the move subscribe. If you havent already and comment below to, let us know what you think about future mobility im gladys.

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