Future of Transport Policy Brief

FUTURE OF TRANSPORT | La Jolla Conference 30 th Anniversary Policy Brief

The process of creative destruction is a driving force of progress that is present across all industries, whereby novel methods and technologies supplant incumbents. Rarely do these sea changes occur overnight or in totality, as exemplified by the various transformations that have occurred throughout the history of transport; the current evolution that the world is witnessing in land, sea, and air transport is no exception. Advancements in Artificial Intelligence, energy storage, and fuel technology, alongside a shifting climate in global demand by businesses and individuals, have been the prime movers in the push towards improved safety, comfort, and sustainability in the ways in which the world moves people and products. This Policy Brief is based upon discussions as part of the Institute of the Americas 30 th La Jolla Energy Conference and a Virtual Roundtable held under Chatham House Rules. The goal is to summarize and add context to those discussions wherein industry leaders and experts posited their thoughts and

opinions on the future of transport and the electric vehicle, air, maritime, and autonomous mobility segments.

Electric Vehicles

Why are electric vehicles the way of the future?

Sustainability: Traditional non-electric vehicles are powered by internal combustion (“IC”) engines, which convert the chemical energy in fossil fuels, such as gasoline and diesel, into mechanical work that can physically move vehicles. Although IC engines have become much more efficient over the years, they still produce unwanted byproducts such as pollutants, greenhouse gasses, and noise. Electric vehicles (“EVs”), on the other hand, convert electricity – stored in battery systems – into mechanical work through a variety of complex processes, such as induction. Proponents of EV’s also note the potential to charge these battery systems using electricity that is generated through renewable processes, like wind and solar. In that case, EVs create fewer negative externalities than those powered by fossil fuels. Greater adoption of EVs powered by renewable energy would also result in lower CO 2 emissions, create less noise pollution, and provide immense benefits to public health through reductions in the concentration of harmful pollutants.

FUTURE OF TRANSPORT | INSTITUTE OF THE AMERICAS

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