# Auto industry on front line of transition to carbon neutrality

- Link: https://www.thailand-business-news.com/thailand-prnews/auto-industry-on-front-line-of-transition-to-carbon-neutrality-thailand-pr-news
- Published: 2022-11-21T18:57:57+07:00
- Author: Thailand PR News

Renault recently announced it is creating two separate subsidiaries to manufacture
its electric vehicle (EV) and traditional combustion vehicle businesses so it can
finance the investment needed to ramp up its development of electric cars.

The manufacturer is facing the same challenges as the vast majority of industry 
actors (not just other car manufacturers but also equipment suppliers and dealers):
the recent drop in sales, market volatility, gloomy economic prospects and tightened
environmental standards. Against this background, low-carbon mobility (electric,
hybrid and hydrogen) is a pivotal area of development for the decades ahead.


## Low-carbon mobility now a major global challenge

Vehicle electrification has turned into a global competition. Players across the
board – advanced and emerging economies, mining countries and so forth – are gearing
up to make sure they do not miss the boat that is low-carbon mobility.

[China](https://www.coface.com/Economic-Studies-and-Country-Risks/China) has already
made its mark as a key actor in battery production: it boasts 60% of the world’s
lithium refining capacity, 77% of global battery cell production and 60% of global
battery component manufacturing.

[Source : Auto industry on front line of transition to carbon neutrality / News / News & Publications ](https://www.coface.com/News-Publications/News/Auto-industry-on-front-line-of-transition-to-carbon-neutrality)

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