World needs to be prepared for a future with EVs, says Siemens CTO
In a world that is rapidly evolving with technological advancements, the future is set to be dominated by Electric Vehicles (EVs). To shed light on the importance of preparation for this inevitable transition and the role of e-fuels, CNBC-TV18 spoke to Peter Koerte, Chief Tech & Strategy Officer at Siemens. Peter Koerte strongly believes that companies must take proactive steps to invest in decarbonisation efforts if they aim to achieve carbon neutrality by 2030.
In a world that is rapidly evolving with technological advancements, the future is set to be dominated by Electric Vehicles (EVs). To shed light on the importance of preparation for this inevitable transition and the role of e-fuels, CNBC-TV18 spoke to Peter Koerte, Chief Tech & Strategy Officer at Siemens.
Peter Koerte strongly emphasises the need for the world to prepare for a future where Electric Vehicles (EVs) become a norm rather than an exception. EVs represent a significant step towards reducing carbon emissions and mitigating the effects of climate change.
E-fuels, also known as synthetic fuels, have been considered a bridging technology on the path to decarbonisation. These fuels are created by converting renewable energy into liquid or gaseous fuels, which can be used in various applications, including internal combustion engines. However, Koerte raises an important point: the production of e-fuels necessitates a substantial amount of renewable energy and therefore is inefficient.
"There is not much life for internal combustion engines (ICEs). There is a conversation about hydrogen particularly for heavy-duty vehicles such as tractors, trucks etc, but no so much of e-fuels," Koerte added.
Peter Koerte strongly believes that companies must take proactive steps to invest in decarbonisation efforts if they aim to achieve carbon neutrality by 2030.
Koerte points out that India, with its vast potential and growing economy, is an ideal destination for investment. He highlights that they prefer the railway industry, infrastructure and industrial sector for investment in India.
Watch the accompanying video for the entire conversation
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Rapido offers free rides to voters to polling stations on May 13 in Hyderabad, 3 other cities
May 6, 2024 5:49 PM
Lok Sabha elections 2024: Seats to date, all you need to know about third phase of voting
May 6, 2024 4:49 PM
Concerns on low voter turnout a "myth"; absolute number of voters correct way to analyse: Report
May 6, 2024 2:57 PM
Haryana Lok Sabha elections 2024: A look at JJP candidates
May 6, 2024 2:26 PM