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The Electric Vehicle Revolution–The Impact of Globalization Upon a Disruptive Industry

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Abstract

The global automotive industry is undergoing a significant transformation to combat the climate crisis and embrace a greener future. The popularity of electric vehicles (EVs) worldwide is quickly surpassing that of Internal Combustion Engine (ICE) vehicles, driven by stringent emissions laws and government incentives. However, EV production emits pollutants and relies on electricity often generated by fossil fuels, raising environmental concerns. Additionally, labor issues and geopolitical tensions arise from resource extraction practices.

To ensure a sustainable transition, critical improvements in the procurement supply chain, manufacturing processes (especially battery technology), and labor practices are necessary. Accompanying climate control initiatives outlined in the Paris Agreement are essential for the proliferation of EVs globally.

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