Toyota, GM And Ford Were Among Top Automotive Companies Discussing Emissions In Q2 2022, Report

0
24
symbol indicating a place to charge an electric car with energy in Catalonia Spain

Estimated Reading Time: 1 minutes

With a rising focus on achieving zero emissions, a report found that mentions (per company) of ‘Emissions’ in automotive company filings were up 17% in Q2 2022 over Q1 2022, while rising 9% compared to Q2 2021. The leading data and analytics company found that original equipment manufacturers (OEMs) such as Toyota, General Motors (GM), and Ford were some of the companies with the most mentions of ‘Emissions’ and related keywords.

Rinaldo Pereira, Business Fundamentals Analyst at GlobalData, comments, “Regulatory scrutiny on automakers around emissions has increased and is leading to newer regulations and stringent enforcement programs. Firms are worried about tightening regulations since the Stage VI emission standards. OEMs expect stricter regulations in the future and have turned towards electrification. An example is Toyota, which expects to achieve annual global sales of eight million electric vehicles (EVs) by 2030 by launching newer models. According to the company, it is likely to expand its EV portfolio to 70 in 2025.”

ALSO READ  India's Gross EV Sales Is All Set To Reach 8-9 Lakhs In This Fiscal Year

GM’s vision is to go carbon neutral by 2040 while focusing on mitigating and eliminating tailpipe emissions in newer light vehicles by 2035. The analysis also reveals that GM is looking at using 100% renewable energy in its US plants by 2025.

Ford issued green bonds worth $2.5 billion for sustainable financing and is likely to use the net proceeds from the issuance in designing and manufacturing battery electric vehicles (BEVs). The company also expects to make further multi-billion-dollar investments in EV development plans.

Pereira concludes, “The rise in the index of ‘Mentions per Company’ showcases that automotive companies continue to focus on discussions around mitigating emissions amid stricter regulations. The index was largely on an uptrend in 2020 despite the COVID-19 pandemic and peaked in Q1 2021, with companies having more discussions around upcoming 2025 or 2030 targets. As the targets are near, we’re likely to see more disclosures or milestones around said emission targets with firms working towards a 2040 or 2050 carbon neutrality.”

ALSO READ  Maharashtra Will Have 2,19,345 EVs By 2025 And 12,08,704 EVs By 2030, Says Report

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.