Md Masud Rana |
Published: August 07, 2021 8:57:00 PM
| Updated: August 07, 2021 9:02:00 PM
In developing countries too, pollution is increasing in the wake of rapid urbanization and industrialization. Air pollution is one of the culprits to add to airborne toxins, sanitation, and sanitation. Hazardous waste causes debilitating and deadly diseases, creates adverse living conditions and destroys ecosystems.
According to the World Bank, pollution is the worst environmental cause of disease and premature death. Air, land and water pollution causes more than nine million premature deaths, accounting for around 16 percent of all deaths worldwide. It is unequivocally shocking news that the number of casualties from pollution far exceeds that of any other known deadly cause. It is three times more deaths than from AIDS, tuberculosis and malaria combined and 15 times more than from all wars and other forms of violence.
Global health crises such as the current Covid-19 pandemic illustrate the need for further measures to combat environmental pollution. Ongoing research is finding a close link between air pollution and the incidence of disease and death from the Covid-19 scourge.
A clean environment is critical to a healthy life. In the interests of the next generation, we all have the same responsibility to keep this environment free of harmful substances. Scientists are constantly researching to invent pollution-free engines, and the electric car comes in handy for solving the major pollution that the internal combustion engine is actually causing.
Bangladesh’s economy is experiencing robust growth amid this ongoing catastrophic pandemic. All sectors are working tirelessly to accelerate this growth. For example, Bangladesh Auto Industries Limited (BAIL) and Nitol Motors Limited are both working on electric vehicles (EVs). BAIL was to build a plant on 100 hectares of land in the Mirsarai economic zone, right on the outskirts of the port city, in which 200 million dollars will initially be invested. 80 percent of the investment in this project will come from Bangladesh and the remainder will come from Foreign Direct Investment (FDI). The total project cost will be $ 1 billion over the first five years. The Nitol Motors Limited project is located in Ishwardi, Pabna, on 10 hectares and is part of a production facility in Bogura. It is a joint venture project with a US company and two Chinese companies. The project costs are estimated at Tk 3.50 billion and the cars are expected to hit the market in mid-2023.
The electric vehicles will cut fuel costs by up to 90 percent. As a result, the travel costs per kilometer are less than 2 taka. In order to be cost effective and to help eliminate air pollution, the demand for electric vehicles is increasing every day around the world. According to data from the International Energy Agency, the number of electric cars, heavy trucks, buses and vans on the roads is expected to hit 145 million by 2030.
The study by BloombergNEF (BNEF) publishes that the size and acceptance of the global electric vehicle market will grow exponentially over the long term. The report shows that electric vehicles now only have a market share of just 3 percent of global car sales. Over time, electric vehicles will account for 10 percent of global car sales by 2025, increase to 28 percent by 2030 and to 58 percent by the end of 2040.
China is a major international electric car usage country in the world by overtaking this race with Europe and the US. As the demand for electric vehicles increases worldwide, many young people in Bangladesh will be eager to buy the electric car to overcome both environmental and cost concerns. If the current projects for electric vehicles in Bangladesh can start their presence strongly, they can also export these vehicles to other countries in the long term.
Gradually, the demand for internal combustion engines for new technological revolutions will decline – and technological revolutions are obviously happening very quickly. The experts reliably estimate that most combustion engines will be replaced by electric vehicles in the next 25 years.
To meet market demand, General Motors says that, contrary to Nokia and Kodak’s strategy, it will only manufacture electric vehicles by 2035. Ford also says that in Europe all vehicles will be electric by the end of 2030. Volvo plans to sell electric cars by 2030 and Jaguar by 2025. In one sentence, we can say that the electric vehicle market is roughly where the internet was in the late 1990s or early 2000s.
Electric vehicles are environmentally friendly and give the transportation industry new impetus. Accordingly, electric charging stations will be part of our everyday life and create a landscape on the motorways. Conventional petrol pumps and CNG stations will disappear and electric charging stations will step in worldwide. Constant economic growth in developing countries like Bangladesh will also experience this technological penetration of the new generation very soon.
Tesla electric cars are used by US citizens and it’s a very exciting experience. The car without an engine, i.e. without consuming oil, runs on electricity that is stored in the battery. When fully charged, it can easily cover 120 miles and 20 miles from the Tesla car will automatically take you to the nearest Tesla charging station. This electric car is self-driving and your beloved family members can track you using Tesla apps. The price for this self-driving car is around $ 100,000. The amazing thing about the Tesla electric car is the automatic parking.
Tesla’s car is very expensive in the Bangladeshi market, but BAIL plans to sell SUVs for Tk 2.50 million or sedans for Tk 1.20 to 1.50 million. In addition, they will manufacture electric motors and the price range will be 50,000 to 150,000 Tk, which is quite reasonable for the Bangladeshi market. Conversely, repeated Nitol Motors Limited, the price of their sedans will be 1.0-1.20 million Tk.
Air pollution kills 7.0 million people worldwide every year, and a pollution-free society will help alleviate poverty, ensure healthy lives, increase common prosperity and create a more productive workforce. The CO2 emissions from internal combustion engines are too high and one of the culprits of global warming. And the introduction of electric vehicles will reduce net carbon emissions and ensure public health. As a result, it is clear that flammable cars will be replaced by electric cars.
The author is a credit analyst at Lanka Bangla Finance Limited.
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