'Toyota, Volkswagen and other leading automakers are on a collision course with the climate,' Greenpeace says.
the EV transition will take longer than many believe. Toyota did not immediately reply to a request for comment from CBS MoneyWatch.
If Greenpeace's projections bear out, the amount of carbon pollution created by all those extra cars would equal that put out by all buildings globally, the nonprofit said — a massive overshoot that would be hard to counter by reducing carbon emissions elsewhere. The report's authors come from the Institute for Sustainable Futures, University of Technology Sydney, the Center of Automotive Management, University of Applied Sciences Bergisch Gladbach, and Greenpeace Germany. Those vehicles have another possible fate, Greenpeace noted. The cars could be produced but not sold — a result that would leave carmakers with millions of vehicles that consumers don't want and the companies can't offload.
"Hence, not only auto industry executives but also bankers and investors should take the risk of a bursting [internal combustion engine] bubble seriously and mitigate it by using their influence to accelerate auto manufacturers' transition to electric vehicles," they wrote.The report highlights a sometimes forgotten aspect of the EV transition: Gas-burning cars will continue to be driven on roads and highways for years after the last one rolls off the assembly line.
That reality has led some countries and states to set more ambitious goals for phasing out gas cars. The
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