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The following content is sponsored by Scotch Creek Ventures.
Electric vehicles (EV) are a key part of the future net-zero carbon puzzle, and the electric vehicle market is growing exponentially.
Countries and governments all over the world recognize the importance of these zero-emission vehicles and therefore include them in their decarbonization plans. But some countries are far ahead in the electric car race, while others have not yet fully embraced the adoption of electric cars.
This infographic provided by our sponsor, Scotch Creek Ventures, outlines the global electric vehicle market and the growth potential of the United States.
In 2020, the global sales of electric vehicles and plug-in hybrid vehicles will exceed the 3 million mark for the first time. The data in the first half of 2021 indicate that we may usher in another year of record sales.
Europe and China have been the leading electric vehicle markets in the past two years, and more than 80% of plug-in hybrid and pure electric vehicle (BEV) sales occurred in these two regions.
Although the country’s population is the driving force of absolute sales potential, government incentives have played a key role in expanding the adoption of electric vehicles during this period. For example, in addition to incentives such as road toll exemptions, some European countries also provide tax incentives for the purchase and ownership of electric vehicles. Similarly, China's electric vehicle subsidies compensate buyers differently based on the mileage of the purchased vehicle.
European countries also dominate the ranking of electric vehicle penetration rates, which represents the share of electric vehicles in new passenger car sales. The top 10 countries with electric vehicle penetration rates in 2020 are all Europe, with Norway at the top of the list.
Although the United States is the world's third largest electric vehicle market, its sales are only a small part of those made in Europe and China, and the penetration rate of electric vehicles is only 2%. However, the US electric vehicle market is growing rapidly and has great potential for expansion.
Both automakers and the government support the U.S. switch to electric vehicles.
The country has one of the world's largest battery super factories, located in Tesla's Giga Nevada, which can produce 37 GWh of batteries per year. Other battery manufacturers have announced plans to build larger factories in the next few years.
Therefore, by 2025, the US battery manufacturing capacity is expected to reach 224 GWh, higher than the 59 GWh in 2020. The following are some of the battery factories in operation and planning in the country:
*Represents factories that are planned, announced, or under construction.
The government is also doing everything it can to support the adoption of electric vehicles. The recently passed trillion-dollar infrastructure bill supports the White House’s electrification plan, which allocated 7.5 billion US dollars to build a network of electric vehicle charging stations, and another 5 billion US dollars for low-emission and zero-emission buses. Earlier this year, President Biden signed an executive order aimed at making 50% of all new car sales become electric vehicles by 2030, providing another catalyst for the shift to electric vehicles.
Therefore, the sales of electric vehicles in the United States will increase. However, more electric vehicles require more batteries, and more batteries require more raw materials—especially lithium.
In 2020, batteries account for 81% of lithium consumption, and demand continues to increase.
According to Bloomberg News, by 2030, the world may need 2,000 GWh of lithium-ion batteries each year, which is higher than the 223 GWh in 2020. Given that lithium is a key component of these batteries, the impact on lithium demand will be huge.
In fact, global lithium demand is expected to be in short supply in 2025. In addition, by 2030, 200 battery super factories are under construction, and the world may need 3 million tons of lithium each year, which is about 37 times the current output.
As the global electric vehicle market expands, meeting the growing demand for lithium will require new sources of production. This is especially true for the United States, which strives to establish a domestic battery supply chain, but only has a lithium mine.
Scotch Creek Ventures is developing two lithium mining projects in Clayton Valley, Nevada, to supply lithium for a green future.
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Copper can kill up to 99.9% of bacteria on the surface within two hours of contact and slow the spread of disease.
Every day, frequently touched surfaces bring health risks to people in public places, especially the most vulnerable people in the healthcare field. In fact, at any given time, 7 out of every 100 hospitalized patients will be infected with health care acquired or “hospital infection” at least once.
Copper has natural antibacterial properties, which can kill up to 99.9% of bacteria on the surface within two hours of contact and slow the spread of diseases.
In this infographic from our sponsor Teck, we explored the antibacterial power of copper and its key role in public health.
Due to its powerful antibacterial properties, copper can kill bacteria in order:
This rapid killing mechanism prevents cells from replicating on the copper surface and significantly reduces the number of bacteria on the surface.
Antibacterial copper can effectively fight bacteria that cause common diseases, such as staphylococcal infections and E. coli that cause foodborne diseases. Metal continuously kills bacteria and never wears out.
In addition to bacteria, researchers are currently studying the effect of copper on the virus that causes COVID-19. A previous study showed that SARS-CoV-2 was completely destroyed within four hours on a copper surface, compared to 24 hours on cardboard, and up to three days on plastic and stainless steel surfaces. Pre-pandemic research also proved that copper has the ability to kill other coronaviruses.
Institutions around the world have deployed antibacterial copper solutions related to hospitals, fitness centers, public transportation systems, schools, professional sports teams, office buildings, restaurants, etc.
So far, antibacterial copper has been installed in more than 300 medical institutions around the world. According to an independent study by the Health Economics Alliance of York University, the payback period for the installation of copper fittings is only two months, taking into account the cost reduction of the patient’s hospital stay and shortened treatment time.
In Canada, Teck worked with its partners to install antibacterial copper coatings on high-contact surfaces in hospitals, educational buildings, and public transportation.
The Stanley Cup champion Los Angeles Kings installed an antibacterial copper surface in a strength training facility in California. In addition, Atlanta Hartsfield-Jackson International Airport also has more than 50 water bottle filling stations made of antibacterial copper.
Although many hospitals and other institutions are already using copper fittings, others are still unaware of its impact characteristics.
As awareness increases, copper can become a simple but effective material that can help control the spread of infection.
With the ubiquity of mobile phones almost everywhere in the world, mobile commerce is occupying an increasing share of the global e-commerce market.
Mobile phones are becoming more and more common around the world. In fact, by 2021, there will be more mobile connections than people on Earth.
Therefore, the mCommerce market is rapidly expanding. By 2025, the share of mobile commerce in US retail sales is expected to double.
This chart from Logiq provides a snapshot of the mobile commerce landscape and how companies are taking advantage of this rapidly changing retail environment.
First of all, what is mobile commerce? It is essentially any financial transaction completed on a mobile device. There are three main types:
In other words, mobile commerce is a branch of e-commerce that allows people to buy and sell goods from almost anywhere through mobile connections.
Mobile commerce accounts for a large part of global e-commerce sales. As of May 2021, it accounts for 65% of total global retail e-commerce sales.
But some regions adopt it faster than others. In the Asia-Pacific region, 79.7% of total e-commerce sales in the region are done through mobile devices.
Why is mobile commerce so common in the Asia-Pacific region? One reason may be the relatively young (and tech-savvy) population of the region-15 to 24 years old make up 19% of its total population.
This, coupled with the high levels of wealth and general digital competitiveness in the Asia-Pacific region—especially in China—can help explain why mobile commerce has taken off so quickly in the region.
Although the mobile commerce market in each region looks slightly different, it is expected to grow globally. In the next five years, the global mobile commerce market is expected to grow to US$2.7 trillion, with a compound annual growth rate of approximately 34%.
Due to the increasing popularity of mobile commerce, there have been many positive effects and some challenges.
A big positive effect is its convenience. Mobile shopping allows consumers to make on-demand shopping anytime, anywhere, as long as there is a mobile connection.
It also helps create a frictionless shopping experience. For example, thanks to a mobile wallet, customers don’t even have to enter their credit card details to buy something—with one click.
Having said that, its rapid growth also means that companies need to consider ways to optimize mobile devices. Like e-commerce, innovation in the mobile commerce field is fast and evolving, which means companies need to stay agile to avoid falling behind.
Despite these challenges, mobile commerce is expected to continue to grow. If companies want to remain competitive, they need to cater to this market.
Logiq can help companies navigate this ever-changing environment. It allows companies to plan and execute multi-channel strategies, and provides data analysis to help track progress.
To learn more about Logiq products, click here.
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