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Why Does the Automotive Industry Need PGMs?

by Tessa Di Grandi
This post is by Tessa Di Grandi from Visual Capitalist

Published • Updated •
The following content is sponsored by KGP Auto


What are PGMs and Why Does the Automotive Industry Need Them?

Platinum group metals (PGMs) are a category of metals that include platinum, palladium, rhodium, ruthenium, osmium, and iridium. 

PGMs are crucial to the automotive industry as they are required for autocatalysts within automotive catalytic converters and exhaust systems. These convert harmful pollutants into less dangerous carbon dioxide and water vapor.

In 2020, 60% of global PGMs were utilized for autocatalysts, demonstrating the significance of PGMs to the auto industry.

In the above graphic sponsor, KGP Auto takes a look at the role PGMs will play in the future of decarbonizing the automotive industry.

EV Forecasts

PGM use in the auto industry has been typically forecasted to reduce as battery electric vehicle (BEV) share increases. This is due to the fact that BEVs do not need PGMs for catalytic converters.

However, the rollout of BEVs faces major challenges such as resource limitations, cost, and infrastructure.

According to projections by KGP Auto, BEVs will only make up 38% of the automotive market by 2040, far short of the 65% needed to achieve net-zero emissions.

To address this, KGP Auto’s recent report proposes a scenario in which material supply is matched to a broader fuel mix.

The Mix

This broader fuel mix will be intended for hybrid vehicles and other vehicles that can (Read more...)

Fork in the Road: 2 Scenarios For The EV Rollout

by Tessa Di Grandi
This post is by Tessa Di Grandi from Visual Capitalist

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The following content is sponsored by KGP Auto


Fork in the Road: 2 Scenarios For the EV Rollout

Global forecasts for electric vehicle rollouts vary, with countries around the world pledging to speed up the transition to 100% zero-emission cars and vans by 2035-2040.

The shift towards electric vehicles is often hailed as a crucial step in combating climate change. However, the transition to battery electric vehicles (BEVs) has not been as smooth as anticipated.

According to projections by sponsor KGP Auto, BEVs will only make up 38% of the automotive market by 2040, far short of the 65% needed to achieve net-zero emissions. Let’s explore these projections further by breaking down two opposing scenarios up until 2040.

One Goal, Two Ways To Get There

Currently, many factors are limiting the forecasted rollout of BEVs, the most prominent being resource constraints.

With high demand and limited availability of critical transition metals, are there alternatives to reach net-zero targets?

The Balanced Scenario, laid out by KGP Auto, factors in current roadblocks impacting EV targets and presents an alternative road forward.

Dominant ScenarioBalanced Scenario
In this forecasted scenario, to meet 1.5 degrees Celsius warming targets, internal combustion engines (ICEs) will be banned in most markets by 2035, and BEV share will reach 65% of global sales by 2040.Alternatives will help bridge the gap (Read more...)

Fork in the Road: 2 Scenarios For The EV Rollout

by Tessa Di Grandi
This post is by Tessa Di Grandi from Visual Capitalist

Published • Updated •
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The following content is sponsored by KGP Auto


Fork in the Road: 2 Scenarios For the EV Rollout

Global forecasts for electric vehicle rollouts vary, with countries around the world pledging to speed up the transition to 100% zero-emission cars and vans by 2035-2040.

The shift towards electric vehicles is often hailed as a crucial step in combating climate change. However, the transition to battery electric vehicles (BEVs) has not been as smooth as anticipated.

According to projections by sponsor KGP Auto, BEVs will only make up 38% of the automotive market by 2040, far short of the 65% needed to achieve net-zero emissions. Let’s explore these projections further by breaking down two opposing scenarios up until 2040.

One Goal, Two Ways To Get There

Currently, many factors are limiting the forecasted rollout of BEVs, the most prominent being resource constraints.

With high demand and limited availability of critical transition metals, are there alternatives to reach net-zero targets?

The Balanced Scenario, laid out by KGP Auto, factors in current roadblocks impacting EV targets and presents an alternative road forward.

Dominant ScenarioBalanced Scenario
In this forecasted scenario, to meet 1.5 degrees Celsius warming targets, internal combustion engines (ICEs) will be banned in most markets by 2035, and BEV share will reach 65% of global sales by 2040.Alternatives will help bridge the gap (Read more...)

Visualized: The EV Mineral Shortage

by Tessa Di Grandi
This post is by Tessa Di Grandi from Visual Capitalist

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The following content is sponsored by KGP Auto


How Mineral Supply Will Change EV Forecasts

Did you know that EVs need up to six times more minerals than conventional cars?

EVs are mineral-intensive and are pushing up demand for critical battery metals. According to the International Energy Agency (IEA), lithium, nickel, and cobalt demand is expected to grow from 10%-20% to over 80% by 2030.

As countries around the world pledge to go all-electric by 2035 and 2040, do we have enough mineral supply for EV demand?

Factors such as geopolitical concentration of resources, quality of materials, mining industry lead times, and environmental factors will together determine whether we have the minerals we need.

Let’s take a look at how critical minerals are affected.

MineralConstraints
CopperCopper mines currently in operation are nearing their peak, suffering from reserve exhaustion, while ore quality in older mines is declining.

South American and Australian mines are located in areas where water availability can be scarce.
This could cause setbacks given the high water requirements needed for the mining process.
NickelThere are a number of growing concerns related to higher CO2 emissions and waste disposal.

Nickel quality needs to be high (Class 1) for EV batteries. Most nickel in the global supply chain is unusable for EVs.
CobaltThe Democratic Republic of Congo and China (Read more...)

Can Electric Vehicle Targets Be Met?

by Tessa Di Grandi
This post is by Tessa Di Grandi from Visual Capitalist

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The following content is sponsored by KGP Auto

Can Electric Vehicle Targets Be Met?

By 2040, just 38% of the automotive market will be made up of battery electric vehicles (BEVs). The problem is, this number needs to hit at least 65% in order to reach net-zero targets.

The above infographic sponsored by KGP Auto explores this theory further, and breaks down some of the key reasons why the EV market needs to urgently shift gears in order to make mass adoption a reality. First, let’s take a bird’s eye view of the market for context.

The EV Market So Far 

In 2021, global electric vehicle sales doubled—however some regions contributed a lot more than others.

China, Europe, and the U.S. made up nearly two-thirds of the EV market and 95% of total electric car sales in 2021. In fact, China sold more electric cars in 2021 than the rest of the world combined in 2020.

Global forecasts for EV rollouts vary, with countries around the world pledging targets for 2035 and 2040. At The UN Climate Change Conference (COP26), more than 100 stakeholders signed a declaration to speed up the transition to 100% zero emission cars and vans by 2035-2040. 

Why Is It Unlikely We Will Meet Targets?

Even as pledges vow to increase the forecast share of EV adoption, we still need to (Read more...)