Supercharging the EV transition in emerging markets
Leapfrogging Partnership deepens Drive Electric Campaign’s support for local leaders in Africa, Latin America, and Southeast Asia with $100 million in catalytic funding from the IKEA Foundation
SAN FRANCISCO – April 2, 2024 – As reported today in Reuters, the Drive Electric Campaign announced the Leapfrogging Partnership with $100 million in support from the IKEA Foundation. Following the news, Rebecca Fisher, Drive Electric Program Director, released the statement:
“The accelerated adoption of electric vehicles is a uniquely powerful climate solution at a pivotal moment in our world’s energy future. The transition to EVs of all types — cars, trucks, buses, two- and three-wheelers — drives economic benefits, dramatically reduces pollution, and strengthens renewable energy grids.
Most of the growth in vehicle demand is expected to occur in emerging economies by 2050, and the next several years present an opportunity for emerging markets to ‘leapfrog’ over dirty combustion vehicles to sustainable, zero-emission transportation. We envision a future where the first 2-wheeler or 4-wheeler a family owns is zero-emission, fueled by domestically produced renewable energy. Electric transportation helps to secure energy independence and achieve global climate goals in emerging markets and beyond.
We are thrilled to increase our support for the groundswell of EV leaders across Africa, Latin America, and Southeast Asia through our Leapfrogging Partnership. The $100 million in catalytic funding from the IKEA Foundation supports local partners to accelerate the shift to clean transportation and abate some 43 gigatons of carbon dioxide equivalent (CO2e) by 2050. Our partnership envisions a future where the health and environmental benefits of electric road transportation can be felt and accessed by all.
The Leapfrogging Partnership builds upon the proven strategy of the Drive Electric Campaign to leverage policy, public and private investments, and market momentum to drive EV adoption. Drive Electric partners have contributed to the EV transition moving faster than even the most optimistic predictions: over 30% of the world’s transport demand is now committed to 100% zero-emission vehicles by or before 2050.
Yet more work is needed to support an equitable global shift, and we see potential for the next wave of clean transportation frontrunners in Brazil, Chile, Indonesia, Kenya, Mexico, and South Africa. These countries have a robust mix of commitments to a clean energy transition, political will for climate-smart development policies, and favorable underlying economic and industrial development conditions.
We know that communities are already experiencing the benefits of e-mobility, from delivery drivers saving money on fuel to public transit workers breathing cleaner air. Now is the time to supercharge the momentum of EV innovation with ambitious public policy, business leadership, and strong partnerships.”
About the Drive Electric Campaign
The Drive Electric Campaign is an ambitious, philanthropy-powered global initiative to achieve a global tipping point leading to end the polluting tailpipe and accelerate the transition to 100% sales of zero-emission electric cars, trucks, buses, and 2 & 3 wheelers for the benefit of health, climate, and the economy.
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