Barbados' $2.3 Billion Investment in Electric Vehicles by 2040
Key Ideas
  • Barbados plans to spend $2.3 billion on the purchase of electric cars by 2040, with a projection that EVs will outnumber fossil fuel cars by 2035.
  • The country aims to achieve net zero carbon emissions by 2035, with a focus on electrifying vehicle fleets and shifting away from internal combustion engines.
  • The investment plan includes increasing the number of electric vehicles, building charging infrastructure, and transitioning car fleets to EVs, with a significant portion of capital investments allocated to this transition.
  • Barbados also plans to encourage a shift from private vehicles to public transport to further reduce emissions in the transport sector.
Barbados is set to make significant investments in the adoption of electric vehicles (EVs) as part of its efforts to achieve net zero carbon emissions by 2035. The country plans to spend around $2.3 billion on the purchase of electric cars by 2040, aiming for complete saturation of EVs by that year. The Barbados Energy Transition And Investment Plan outlines a strategy that includes the importation of 10,000 four-wheel passenger cars annually between 2020 and 2035, with projections indicating that EVs will outnumber fuel-powered cars by 2035. The plan emphasizes the importance of transitioning the transport sector to EVs and away from internal combustion engines to reduce carbon emissions. It forecasts a significant decrease in carbon emissions from the transport sector by 2035 and highlights the need for electrifying vehicle fleets. The country also plans to invest in charging infrastructure and shift the car fleet predominantly to EVs over the next two decades. Barbados aims to encourage a shift from private vehicles to public transport to further reduce emissions in the transport sector. The plan also addresses challenges such as limited availability and high costs associated with EVs, with strategies to overcome these barriers by 2030. Additionally, the plan emphasizes the need for investment in manufacturing capacity for EVs and components to create industrial and job opportunities. Overall, the plan is optimistic about Barbados' transition to EVs and its potential to significantly reduce carbon emissions in the country's transport sector. By focusing on electrification, infrastructure development, and policy frameworks, Barbados is taking significant steps towards a sustainable and environmentally friendly transport system.
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