DRAFT CORPORATE CLIMATE STOCKTAKE: ROAD TRANSPORT

The report analyzes the global transition of road transport to electric vehicles, noting that while passenger EV adoption is on an exponential growth trajectory, freight and emerging markets face significant hurdles. Key barriers include insufficient charging infrastructure, power grid limitations, and high total cost of ownership (TCO) for heavy-duty trucks. The document emphasizes the need for a shift from demand-side subsidies to supply-side policies, such as prioritized permitting for battery production and direct funding for charging networks, to sustain the transition toward net-zero emissions.

• Road transport emissions must decrease by approximately 30% by 2030 to align with the IEA Net Zero trajectory.
• Passenger EV sales have grown exponentially since 2016, with global sales increasing fourfold between 2020 and 2023 and surpassing 10% market penetration in 2021.
• The total cost of ownership (TCO) for electric trucks varies by use case: mid-mile distribution is expected to reach parity with internal combustion engine (ICE) trucks by 2027, regional distribution by 2032-2033, while long-haul freight is not expected to reach parity by 2035.
• Charging infrastructure is identified as the primary barrier to EV adoption, with business leaders citing underlying power grids and commercial viability as top challenges for scaling passenger charging.
• Hydrogen fuel cell electric vehicles (FCEVs) offer advantages in range (>1,000 km) and weight for heavy-duty applications but suffer from high TCO, low well-to-wheel efficiency, and a lack of refueling infrastructure.
• In emerging markets, two- and three-wheelers present the fastest opportunity for EV adoption because they have already reached purchase price parity with ICE vehicles and have simpler charging needs.
• Battery supply chains face imminent constraints due to the reliance on critical minerals like copper, lithium, and cobalt, necessitating a shift toward recycling and alternative chemistries such as sodium-ion.
• Regulatory and permitting delays are hindering the scaling of EV production and charging infrastructure, with some US property owners in California requiring 5-7 years to plan charging depots.

APA

We Mean Business Coalition (2023). DRAFT CORPORATE CLIMATE STOCKTAKE: ROAD TRANSPORT. https://www.wemeanbusinesscoalition.org/wp-content/uploads/2023/11/UPDATED-Global-Corporate-Stocktake_Road-Transport_WMBC.pdf

Chicago

We Mean Business Coalition. DRAFT CORPORATE CLIMATE STOCKTAKE: ROAD TRANSPORT. 2023. https://www.wemeanbusinesscoalition.org/wp-content/uploads/2023/11/UPDATED-Global-Corporate-Stocktake_Road-Transport_WMBC.pdf.

Wikipedia

{{cite report |author=We Mean Business Coalition |title=DRAFT CORPORATE CLIMATE STOCKTAKE: ROAD TRANSPORT |date=October 2023 |url=https://www.wemeanbusinesscoalition.org/wp-content/uploads/2023/11/UPDATED-Global-Corporate-Stocktake_Road-Transport_WMBC.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{wemeanbusinesscoalition2023draft, author = {{We Mean Business Coalition}}, title = {{DRAFT CORPORATE CLIMATE STOCKTAKE: ROAD TRANSPORT}}, institution = {We Mean Business Coalition}, year = {2023}, month = oct, url = {https://www.wemeanbusinesscoalition.org/wp-content/uploads/2023/11/UPDATED-Global-Corporate-Stocktake_Road-Transport_WMBC.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }