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Sustainability newsletter – October 2023
Costs for EV batteries fall, funding for UK-sourced lithium project, GM goes renewable and Lynk & Co commits to life cycle CO2 audits
Words by: Erin Baker
Published on 10 October 2023 | 0 min read
Hannah Ritchie is an environmental data scientist with some great data and an even greater TED talk, which I watched the other day. As with all science, the picture around climate change is more nuanced than we journalists would like. “There’s good news and bad news” isn’t a great headline, after all. Mostly, of course, it’s bad news, which makes any slither of good news worth grabbing with both hands. And, so, I did, when I saw Ritchie’s slide on the price of electric-car batteries.
In summary, the price of batteries has fallen, and continues to fall, which means the price of electric cars will do likewise. In 1991 an electric-car battery would have cost somewhere between $500,000 and $1m. In 2022, that cost had fallen to $5,000 to $12,000. This has transformed energy storage and electric-car costs, and will continue to transform both. You may sneer at the thought electric-car prices have “transformed”, given how high new-car prices remain. But the very fact anyone other than a millionaire can entertain the thought of buying one marks huge progress, and that progress will continue. The other great piece of data was around CO2 emissions per person in the UK. The figure stood at nine tonnes per person in 1938, 11.5 tonnes per person in 1965, 10 tonnes in 1993 and 5.5 tonnes in 2019 according to Our World in Data - Global Carbon Project (links to external site). Ritchie was quick to point out to cynics that this fall is not all because of offshoring the emissions to other countries - we genuinely have seen a large reduction thanks to better technology, awareness and information.
In summary, the price of batteries has fallen, and continues to fall, which means the price of electric cars will do likewise. In 1991 an electric-car battery would have cost somewhere between $500,000 and $1m. In 2022, that cost had fallen to $5,000 to $12,000. This has transformed energy storage and electric-car costs, and will continue to transform both. You may sneer at the thought electric-car prices have “transformed”, given how high new-car prices remain. But the very fact anyone other than a millionaire can entertain the thought of buying one marks huge progress, and that progress will continue. The other great piece of data was around CO2 emissions per person in the UK. The figure stood at nine tonnes per person in 1938, 11.5 tonnes per person in 1965, 10 tonnes in 1993 and 5.5 tonnes in 2019 according to Our World in Data - Global Carbon Project (links to external site). Ritchie was quick to point out to cynics that this fall is not all because of offshoring the emissions to other countries - we genuinely have seen a large reduction thanks to better technology, awareness and information.
So, on we go. October shout-outs to brands this month go firstly to Cornish Lithium. It extracts lithium from Cornwall’s rocks and geothermal water, which is much in demand for car batteries if we don’t want to import it from China, with all that entails in lost revenue and increased emissions from shipping. Cornish Lithium has just secured $250,000,000 of private equity investment, proving the UK has a supply of valuable raw materials there for the taking if the Government will support such invaluable domestic start-ups. Let us not forget that the lithium-ion battery, used worldwide in electric cars, was invented in the UK.
Second shout-out is to General Motors (GM), and specifically its Chief Sustainability Officer Kristen Siemen, who announced GM has accomplished one of its sustainability goals a massive 25 years ahead of schedule. Something to ponder for all you companies are struggling to meet 2036, 2040 or 2050 goals. The manufacturer has sourced 100 per cent of the renewable energy to supply its facilities by 2025 in America. Sourcing renewable energy is a critical component of GM’s, and every manufacturer’s, plans to decarbonise.
Second shout-out is to General Motors (GM), and specifically its Chief Sustainability Officer Kristen Siemen, who announced GM has accomplished one of its sustainability goals a massive 25 years ahead of schedule. Something to ponder for all you companies are struggling to meet 2036, 2040 or 2050 goals. The manufacturer has sourced 100 per cent of the renewable energy to supply its facilities by 2025 in America. Sourcing renewable energy is a critical component of GM’s, and every manufacturer’s, plans to decarbonise.
Last but not least Lynk & Co, the subscription/sharing/leasing electric car brand not yet present in the UK but on its way, has commissioned an independent Life Cycle Assessment to report on the entire carbon footprint of its 01 car. The Swedish Environmental Research Institute will identify hotspots in the whole manufacture, sales, use and destruction cycle of the car where the climate impact matters the most and where consumers have the biggest footprint. I hope it doesn’t pull its punches - we all need uncomfortable truths and transparency.
Previous Sustainability Newsletters:
Sustainability newsletter – September 2023 | Erin Baker shares her thoughts on the UK's changing net zero targets and delaying the 2030 ban for new petrol and diesel cars.
Sustainability newsletter – August 2023 | Zapmap reports increased charger installations, Lime's e-mobility revolution and Nissan's autonomous driving Sustainability newsletter – July 2023 | Public charging network expands, hydrogen back on the agenda and choosing green tyres Sustainability newsletter – June 2023 | BMW helps electrify the UK’s national parks and Kia ditches leather across its range of cars Sustainability newsletter – May 2023 | What upholstery will you be choosing for your next car - leather or pleather? Sustainability newsletter – April 2023 | Polestar’s ‘moonshot’ for a zero emissions car and a look into synthetic fuels as a possible lifeline for internal combustion classics Sustainability newsletter – February 2023 | Our regular sustainability round-up continues with a look at some new recycled materials this month, all of which could be in your car soon Sustainability newsletter – January 2023 | Eco awareness is driving more and more car buying decisions for a variety of reasons -here we celebrate those doing it right!
Sustainability newsletter – August 2023 | Zapmap reports increased charger installations, Lime's e-mobility revolution and Nissan's autonomous driving Sustainability newsletter – July 2023 | Public charging network expands, hydrogen back on the agenda and choosing green tyres Sustainability newsletter – June 2023 | BMW helps electrify the UK’s national parks and Kia ditches leather across its range of cars Sustainability newsletter – May 2023 | What upholstery will you be choosing for your next car - leather or pleather? Sustainability newsletter – April 2023 | Polestar’s ‘moonshot’ for a zero emissions car and a look into synthetic fuels as a possible lifeline for internal combustion classics Sustainability newsletter – February 2023 | Our regular sustainability round-up continues with a look at some new recycled materials this month, all of which could be in your car soon Sustainability newsletter – January 2023 | Eco awareness is driving more and more car buying decisions for a variety of reasons -here we celebrate those doing it right!
