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Transport Industry Leaders Share 2023 Predictions for Decarbonization
January 3, 2023
The starting pistol has fired, and 2023 has officially begun. However, the race to decarbonize transport and the many facets of each subsector such as road vehicles, aviation and maritime shipping has been going on for years. So, in a way, it may be better to think of 2023 as the passing of the baton from 2022, in the broader race to net zero. However, unlike a relay race in which one runner from a team passes the baton to the next runner, industry leaders must keep running, together, farther and faster than ever before if we are to win the race.
Following that metaphor in the race to net zero, what’s in store for 2023? Personally, I think 2023 will be the year of manufacturing — where much of the focus on electrification will shift from making commitments and announcements for releasing new EVs to focusing on growing manufacturing capacity to act on existing commitments for new EV models. Additionally, automotive companies will strive to lower EV production costs to counteract simmering battery price decline. Lastly, as it pertains to the U.S., automakers will continue sprinting to reshore battery manufacturing and supply chains driven by legislation adopted in 2022, which will continue to cause and even increase geopolitical trade tensions between the U.S. and its allies as well as with multinational companies.