Automakers’ Ambitious ZEV Targets

In a resolute push to accelerate the transition to electric vehicles (EVs) and address the pressing challenge of climate change, prominent global automakers are unveiling ambitious Zero-Emission Vehicle (ZEV) targets. These targets, outlined in a recent report by the International Council on Clean Transportation (ICCT) titled "Global Automaker Ranking 2022," offer valuable insights into automakers' commitment to achieving a fully decarbonized vehicle fleet.

Published

June 2023

Industry

Electric Vehicles

The ICCT report underscores the significance of ZEV targets as a critical metric for evaluating manufacturers’ determination and resolve in embracing a future powered by sustainable transportation. As the world gravitates towards a low-carbon economy, these aggressive ZEV targets demonstrate automakers’ firm dedication to mitigating greenhouse gas emissions and driving the widespread adoption of EVs.

According to the report, numerous automakers have made significant strides by announcing bold ZEV targets, signaling their unwavering commitment to transform their vehicle portfolios. Noteworthy among them is Tesla, renowned for its exclusive focus on ZEV production and sales, which received the highest score in the analysis. Other leading automakers, including Tata-Jaguar, Geely-Volvo, Toyota-Lexus, VW-Bentley, BMW-Mini, GM, Ford, and Mercedes-Benz, have also set their sights on achieving 100% ZEV penetration within specific timeframes, underscoring their unwavering resolve in accelerating the ZEV transition.

The ICCT report provides detailed insights into the methodology employed to assess ZEV targets. A rigorous examination of manufacturers’ sustainability reports, announcements, press releases, and news articles published up until the end of 2022 formed the foundation for data collection. The evaluation process considered multiple factors such as target timeframe, geographical coverage, applicable vehicle segments, and technology types. To ensure alignment with the objectives of the Paris Agreement, ZEV benchmarks were established at 77% market share by 2030 and 97% by 2035.

The calculation of ZEV target scores involved a comprehensive comparison between manufacturers’ ZEV sales targets and the corresponding benchmarks. The analysis favored short-term targets as they demonstrated a profound commitment to immediate action. Manufacturers with multiple ZEV targets had their scores averaged, taking into account the impact on vehicle sales based on target scope.

While the report showcases the impressive progress made by automakers in setting ambitious ZEV targets, it also highlights regional disparities and diverse strategic approaches. Some manufacturers concentrate their efforts on specific regions or vehicle segments. Notably, Chinese manufacturers, while setting short-term targets, include Plug-in Hybrid Electric Vehicles (PHEVs) in their plans, which modestly affected their scores in the analysis. Japanese automakers exhibited heightened commitment, surpassing their previous ZEV targets, with notable advancements from Toyota.

The ICCT report concludes that achieving a 100% ZEV fleet is an indispensable milestone in combatting climate change and establishing a sustainable future for the automotive industry. It underscores the need for unwavering dedication and consistent efforts from automakers to secure the necessary market share for ZEVs.

The formidable ZEV targets set by leading global automakers reflect an increasing recognition of the urgency to reduce greenhouse gas emissions and promote clean mobility. As these targets translate into tangible actions and substantial investments, industry professionals can anticipate an expanded array of electric vehicle options and the proliferation of robust charging infrastructure, thereby propelling the adoption of sustainable transportation on a global scale.

Source: The global automaker rating 2022 | ICCT