EVs Can Help More than the Earth – They Can Save Lives

Despite a recent slowdown in sales, it is undeniable at this point that electric vehicles are the future of transportation.  Whether fueled through battery packs or hydrogen, EVs are on a clear path to replace the internal combustion engine (ICE) in time.  The reasons for efforts supporting this are varied and are typically built around the idea of saving the planet from irreversible climate change.  Interestingly though, new studies are showing that it is not just the Earth that will benefit from this inevitable transition, but human lives.

The Study

The aforementioned study is one that looked to assess the potential effect a rapid phaseout of fossil fuels would have on humans.  It was published in The British Medical Journal (BMJ), after being put together by researchers from the following universities.

• Germany’s Max Planck Institue for Chemistry
• The United Kingdom’s London School of Hygiene & Tropical Medicine
• The United States University of Washington
• Spain’s Barcelona Institute for Global Health
• Germany’s University Medical Center Mainz

The broad scope of participating entities behind the study goes to show that this is not an isolated issue but one relevant on a global scale.

The bottom line is that air pollution remains a major public health challenge, with previous studies offering varying estimates of its mortality impact.  By employing updated atmospheric models and recent satellite-based fine particle data, the researchers behind this latest study estimate that about 5 million excess deaths globally each year can be attributed to air pollution from fossil fuels.

The Findings

Looking closer at the deaths attributed to fossil fuel pollution will show various recurring ailments that span from myocardial infarctions, cerebral vascular accidents, respiratory ailments such as chronic pulmonary obstructive disorder, and more.

The paper states that the team was able to achieve these insights through the development of a “…data constrained, global, atmospheric modelling method to compute gaseous and particulate air pollutants and attributed them to source categories.”  From there, it found that, primarily due to PM 2.5 (particulate matter smaller than 2.5 microns, which is particularly harmful due to its ability to bypass the body’s natural filtration mechanisms), 82% of air pollution deaths could be directly attributed to fossil fuels.  The effects of its elimination are shown in the following chart.

Source: www.bmj.com/content/383/bmj-2023-077784

The team did recognize that there were limitations to the study, stating that, among other things, it was reliant upon the studies of ‘epidemiological cohorts’.  As such, there were various ‘under-represented’ parts of the world (e.g. South Africa).

Regardless of limited data in certain regions, it would appear as though the study’s findings were clear – lives are unnecessarily lost every year due to fossil fuel use.

‘Diesel Gate’

This study’s implications are vast, particularly in light of events like the “Dieselgate” scandal, where certain automakers were found to have cheated on emissions tests.  Such incidents have drawn public attention to the broader issue of air pollution and its sources, reinforcing the need for swift action towards cleaner energy alternatives.

The “Dieselgate” scandal was a major automotive industry controversy that erupted in September 2015 when the United States Environmental Protection Agency (EPA) revealed that Volkswagen had been using software in its diesel vehicles to manipulate emissions tests.  This software, known as a “defeat device,” enabled the vehicles to meet emissions standards during regulatory testing, while emitting up to 40 times more nitrogen oxides (NOx) during regular driving conditions.  This deceit not only violated environmental laws but also misled consumers about the vehicles’ environmental impact.  The scandal quickly expanded beyond Volkswagen, with allegations involving other manufacturers such as Audi, a Volkswagen subsidiary, and Porsche.

A study by the Massachusetts Institute of Technology estimated that the excess emissions from 11 million affected vehicles globally could contribute to around 1,200 premature deaths in Europe alone.  This figure was based on the excess emissions’ impact on air quality and subsequent effects on health, particularly respiratory and cardiovascular diseases.

Dieselgate had far-reaching consequences, leading to massive recalls, legal actions, and a global reevaluation of diesel vehicle emissions and their regulation.  A silver lining from this debacle, would be the resulting increase in interest surrounding more sustainable alternatives and practices – a shift which has no doubt helped fuel recent growth in the EV industry and associated government regulations.  Unfortunately, the study recently published in the BMJ shows that there is still a mountain to climb on the path to sustainability.

Industry Players

Never before has there been such a broad array of vehicles available to the public for transportation – be it diesel, gas, hybrids, battery EVs, hydrogen EVs, or something else entirely.  However, for investors interested in the automotive industry that keep sustainability in mind, a few names stand out in a growing field.

*Figures provided below were accurate at the time of writing and are subject to change.  Any potential investor should verify metrics*

Publicly-Traded

1.  Tesla, Inc.

(TSLA )

As a pioneer in the electric vehicle (EV) market, Tesla represents a compelling investment opportunity.  Founded in 2003, it has established a dominant position in the EV sector with its innovative models like the Model S, 3, X, Y, and Cybertruck.  Tesla’s commitment extends beyond vehicles to battery storage and solar technology, diversifying its portfolio.  The company’s ability to consistently lead in EV technology, expand its global footprint, and maintain a strong brand makes it a potentially lucrative investment, particularly for those looking to capitalize on the growing trend towards sustainable energy.

2.  Rivian Automotive, Inc.

(RIVN )

Rivian stands out as an attractive investment in the electric vehicle space, particularly for its focus on electric trucks and SUVs, a relatively untapped segment in the EV market.  Founded in 2009, Rivian has garnered attention with the R1T pickup and R1S SUV, which combine eco-friendliness with adventure and off-road capabilities.

3. Polestar

(PSNY )

Investing in Polestar offers a unique opportunity in the electric vehicle sector, combining the appeal of high-performance and luxury with environmental sustainability.  Since its 2017 inception as an independent brand, Polestar has focused exclusively on electric vehicles, such as the hybrid Polestar 1 and the all-electric Polestar 2.  Its commitment to minimal environmental impact, coupled with advanced Scandinavian design and technology, positions Polestar as a strong contender in the luxury EV market.

Equity Crowdfunding

Aptera Motors

While not publicly traded, Aptera Motors has emerged as an intriguing investment prospect within the electric vehicle industry – especially for its unique focus on ultra-efficient, solar electric vehicles (SEVs).

The company, revived in 2019, distinguishes itself with the Aptera SEV, a three-wheeled, aerodynamic vehicle boasting an impressive range and minimal energy consumption. Its solar integration allows for self-charging capabilities, reducing reliance on charging stations.

Olympian Motors

Final Thoughts

Overall, the research team emphasized the urgency of transitioning to renewable energy sources.  It stated that,

“A major proportion [of air pollution] is potentially avoidable, caused by anthropogenic emissions, of which globally 82% is attributable to using fossil fuels in industry, power generation, and transportation. Given the Paris Climate Agreement’s goal of climate neutrality by 2050, the replacement of fossil fuels by clean, renewable energy sources would have tremendous public health and climate co-benefits”

Past events like diesel-gate may have been needed to nudge the transportation sector in the right direction, and the findings of such studies should hopefully continue this trend towards sustainability.  While EVs are by no means perfect, as the industry needs to become better at recycling and less harmful battery compositions, they remain one of the best solutions for battling the effects of fossil fuels.  If we were to wait for a perfect solution, we would never move forward.  EVs provide enough benefits to warrant adoption, with a goal of ironing out its major kinks along the way.