Are the carbon footprints of EVs really as drastically lower than that of internal combustion engine vehicles? When considering the amount of carbon and CO2 created from assembling lithium ion batteries, one firm thinks the difference could be “negligible”.
Such was the topic of a new blog post by natural resource investors Goehring & Rozencwajg (G&R), a “fundamental research firm focused exclusively on contrarian natural resource investments with a team with over 30 years of dedicated resource experience.”
The firm, established in 2015, posted a blog entry entitled “Exploring Lithium-ion Electric Vehicles’ Carbon Footprint” this week, where they call into question a former ICE vs. EV comparison performed by the Wall Street Journal and, while citing work performed by Jefferies, argue that there could literally be “no reduction in CO2 output” in some EV vs. ICE comparisons.
Their analysis “details the tremendous amount of energy (and by extension CO2) needed to manufacture a lithium-ion battery.” Because a typical EV is on average 50% heavier than a similar internal combustion engine, the analysis notes that the “embedded carbon” in an EV (i.e., when it rolls off the lot) is therefore 20–50% more than an internal combustion engine.