GROUP ASSIGNMENT [MGT103] – SPRING 2024

TOPIC: SUSTAINABLE BUSINESS PRACTICES: THE RAPID GROWTH OF THE

ELECTRIC VEHICLE INDUSTRY ADHERING TO ( ESG ) CRITERIA

Course MGT103
Instructor La Thị Cẩm Tú
Class MKT1905
Group members Nguyễn Văn Học – SS181054
Trần Anh Phương Linh – SS181123
Ngọ Thu Hằng – SS181141
Trương Mỹ Dung – SS181157
Bùi Lê Anh Khoa – SS180836
Trần Xuân Khanh – SS181115
Contents
I. Cover Page:.................................................................................................................................. 3
II. Introduction ................................................................................................................................ 4
1. Briefly introduce the chosen topic .......................................................................................... 4
2. State the purpose and scope of the report:............................................................................... 4
2.1 Purpose: ............................................................................................................................. 4
2.2 Scope: ................................................................................................................................ 4
III. Literature Review...................................................................................................................... 5
1. Overview of existing research & discusses key concepts, theories and models related to
ESG of sustainable business practices ........................................................................................ 5
1.1 Sustainable business practices definition .......................................................................... 5
1.2 ESG: .................................................................................................................................. 6
1.3 The Triple Bottom Line & Model ..................................................................................... 8
IV. Background and Context ........................................................................................................... 9
1. Overview of the Electric vehicle industry in the current management landscape .................. 9
V. Analyze and Discussion ............................................................................................................ 13
1. Apply management theories and concepts related to Sustainable Practices ......................... 13
1.1 Battery Technology and Cost Management: ................................................................... 13
1.2 Charging Infrastructure and Economics.......................................................................... 16
1.3 Government Incentives and Policy Management ........................................................... 17
1.4 Lifecycle Analysis and Sustainable Practices ................................................................. 18
2. Analyze challenges, opportunities, and implications: ........................................................... 20
2.1 Challenges: ...................................................................................................................... 20
2.2 Opportunity: .................................................................................................................... 21
VI. Recommendations: ................................................................................................................. 22
1. Offer practical recommendations based on your analysis: .................................................... 22
VII. Conclusion: ............................................................................................................................ 23
VIII. Reference: ............................................................................................................................ 25
IX. Appendices:............................................................................................................................. 28

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I. Cover Page

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II. Introduction
1. Briefly introduce the chosen topic
With consideration of the past fact that groups like environmental conservation, technological
innovation, and globalization have had a direct impact on the invention and progress in terms of
the specific technology of electric vehicles, it is right to allow that the future for electric vehicles
is promising. Nevertheless, we have observed from this report that the international electric vehicle
market is projected to be worth above $980 billion by the year 2028, and it is estimated to grow at
a compounded annual growth rate of 24.5% from 2023 to 2028 (Facts & Factors, 2022). The sector
of electric vehicles touches fiercely the ring of competition that involves previously manufactured
cars and is opening to a new space for start-ups. They endeavor to capture all available market
share, entertain their current customers, ensure that they remain committed, and find that place
that will let them emerge as leaders. The major dissimilarity is the character of the players.
Participation is in compliance with the criteria of ESG (environmental, social, and governance),
which measure the impact on the planet and people. ESG standards are to be used by investors,
regulators, and customers in the electric vehicle industry to assess companies enabling
sustainability and responsible business practices. In this paper, we will discuss some of the current
car issues, the company objectives, and their ESG criteria designs as a case in point. We aim to
pinpoint the market gap and business opportunities that might be available in this field of green,
low-carbon "electric vehicles" while also exploring the relevant sustainability issues for such
ventures and possibly advising further research and strategic practice.

2. State the purpose and scope of the report:

2.1 Purpose: Human activity and globalization are the root causes of global environmental issues
like pollution, acid rain, ozone depletion, overpopulation, waste management, deforestation, and
biodiversity loss due to unsustainable resource usage. (Singh,2016). Increasing concerns revolve
around climate change, and the involvement of alternative modes of transportation is putting
pressure on the demand for traditional cars. So that’s the premise for promoting the trend of
investing according to ESG criteria, or sustainable investing, in recent years.

2.2 Scope: The goal of this report is to study and propose solutions within the electric vehicle (EV)
industry regarding sustainable performance, which include:

Topic Overview: This industry report is specifically about the electric vehicle industry, which has
gained a lot of well-deserved popularity. It intends to find out how the established car companies
and the new startups interact during the undefined energy transformation. Through a
comprehensive international electric vehicle market analysis, the report discloses the details. The
article deals with the growing popularity of electric cars, which has a direct influence on the car
market in general. Four key indicators are the number of electric cars running on the roads, the
market share, and regional trends.

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Competitive Landscape: The competition of the established automakers against the new startups
is also pointed out in this paper. This is what it explains, namely, which companies approach the
EV market. There are several elements, including innovation, technology, and sustainability, that
one expects to make a difference in the future of the business.
Adherence to ESG Criteria: The report stresses that ESG (Environmental, Social, and
Governance) aspects are a key issue to consider. It presents an overview of how businesses are
incorporating ESG aspects into their business designs. Topics may include carbon emissions
reduction, collaborating with ethical stakeholders, and social responsibility.

Challenges and Opportunities: The paper pinpoints the questions confronting not only the large-
scale players but also the new companies. This also identifies chances to increase profitability,
innovation, and environmentally sustainable means of production. Regulational change, social
attitudes, and technological evolution are the areas of focus.

Recommendations: With respect to the analysis, the report could offer ideas for companies to
improve their eco-friendly behaviors. Strategies for achieving the balance between profitability
and environmental and social impact are likely the theme of this paragraph. First of all, the goal
of this report is to explain the sustainability practices in the industry of electric vehicles in detail,
to show the competitive dynamics in the market, and, at the end, to show the role of the ESG
criteria in the future development of the automotive industry.

III. Literature Review

1. Overview of existing research & discusses key concepts, theories and models related to
ESG of sustainable business practices
1.1 Sustainable business practices definition

Sustainability: In this line, Hart and Milsten (2003) understand sustainability as a process that
helps in the improvement of present social and environmental outcomes without compromising
future generations ability to meet their fair expectations. The definition of Daly, which is based
on measurement, enriched the notion and gave it scientific meaning.
Business: An enterprise operates in accordance with the production, wholesale acquisition, retail
sale, and supply of goods and services on the one hand, and on the other hand, it aims to make
profits. The show will be made up of different areas. These sections will be dedicated to subjects
such as management, operations, marketing, finance, and strategy. On the other hand, there are
virtually all sorts of business structures, including the following: individuals, coops, corporations,
and legal entities. The central goal of every business is to bring value to the shareholders and
connect with the customers by more intensively exploring their needs and, eventually, by growing
the business.
Sustainable business: Sustainable business models are reliant not only on directly generating
profit but should ensure that business processes do not take place to the detriment of future
environmental as well as social and economic conditions. Sustainable organizations mostly do that

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by leveraging tools, approaches, and strategies that allow them to use resources at their optimal
maximum, ensure environmental safety, and be socially responsible while maintaining positive
workplace ethics. To put it briefly, it is a pleasant and efficient work atmosphere.

1.2 ESG:

It is also known as sustainability (environmental, social, and governance), which is a group of

standards to measure the success of the company in social and government aspects as well as the
positive impact on the environment and surrounding ecology. A higher ESG rating for this
enterprise emphasizes its more serious attitude towards ESG norms. ESG is basically an approach
to sustainability that administers the micro- and macro-aspects like the environment, society, and
governance. Finally, it is supposed to support the planning process, which ultimately could satisfy
environmental, social, and governance aspects. Although the expression 'the shareholders' is most
widespread among the companies' owners and managers, these places are occupied by the clients,
suppliers, and employees, who influence the company's performance and provide for its good
name. Those standing against this ESG concept had some shadows there, although the validity of
the concept was always debatable and had raised the question long before. On the economic side
of the debate, these investors consider a trade-off between financial, environmental, social, and
governance advantages, and this will boost the ESG investment principles to one of the most
important values of investing than was the case when such issues were ignored.
The last two years of the COVID-19 pandemic have further sped up this development, with the
onset of ESG factors playing a larger role in investment strategies being taken than traditional
financial indicators. Doubts about ESG have been cast by many, but there is never a shortage of
money flowing into ESG-compliant businesses, as written by the Financial Times. Mr. Stendevad,
the Investment Director in the Sustainable Development department at Bridgewater Associates
Fund, stated that in particular, for Europe, green and security ambitions are now placed together,
with ensuring energy and energy security being part of it. This power is an important mechanism
for overcoming the resistance to the transition to renewable energy, as countries do not want to be
dependent on other countries for their energy supply. In the last few decades, due to concern with
global warming and air pollution, governments globally, including the United States, European
Union, and China, started to provide subsidies for electric vehicles and set higher emissions
standards—and more stringent—for new fossil-fueled cars. The report from an energy research
group, ‘Bloomberg NEF', suggests that lithium-ion battery costs have also decreased by about 80%
since 2013. This makes electric vehicles more competitive with vehicles using traditional
combustion engines, but they face challenges with most consumers, such as the lack of easy access
to charging stations.

For both moral and business-related reasons, companies are expected to put ESG (environmental,
social, and governance) matters among their first priorities. First of all, starting with ESG standards
leads to the development of a sustainable business model, which is vital for building a successful
enterprise. This would entail handling organizational impact on the environment, social issues, and

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corporate governance well. Another important issue is that firms should not forget about adding
value for their shareholders and investors. Nowadays, it is evident that more and more people pay
attention to ESG factors, and they usually go for companies that are leading in those areas. ESG
development, which is, in this case, not only good for shareholders but also helps to ensure that
funds flow from socially responsible investors. Furthermore, sustainability demands have to be
met as customers, business partners, and communities become more and more environmentally
conscious. Firms that embed ESG in their goals and operations have a proactive business
environment that reflects the current needs of the market. Also, one of the advantages of ESG best
practices is that they maintain oversight and reduce risks. The implementation of ESG principles
will enable companies to fulfill regulatory requirements as well as mitigate risks to the
environment, society, and governance. In addition, businesses must generate favorable effects on
society and the environment too. Understanding sustainable business practices can help to
maintain community well-being and save nature's heritage for descendants. In sum, addressing
ESG is not only an enterprise requirement but also a chance to create sustainable value for all the
players involved. By integrating ESG into their operations, companies become better adapted to
turbulence, improve their brand image, and experience long-term financial growth that also serves
the wellbeing of people and the planet.

Through the creation of environmental, social, and governance (ESG) norms, business processes
can have an array of benefits. A major advantage lies in not only the reinforcement of brand value
and reputation but also in the adoption of sustainable efforts. Companies acquire a positive image
among their communities and customers through initiatives for environmental and social
responsibility. They can be successfully implemented. This particular consideration not only
results in brand positivity but also brings in new customers as well as keeping the existing ones in
a company. Furthermore, alignment with the ESG framework is a prerequisite for enhanced risk
management pertaining to environmental, social, and corporate governance matters. Through this
proactive method, organizations substantially minimize expenses that would otherwise be spent
on risk mitigation and regulatory compliance. Companies that have adopted sustainable plans may
meet new opportunities, such as the manufacture of green products and services or moving into
niche markets. ESG compliance also means the opportunity to obtain investments and funding. In
addition, investors and financial institutions are paying greater attention to ESG criteria when they
are thinking through their decisions. Companies with ESG principles are recognized faster and
receive a larger amount of investment from investors who care about the future. In fact, it should
be understood that ESG does not always contribute immediately or directly to profitability. If you
follow the ESG standards, the long-term benefits might take some time to come into effect.
However, implementing ESG principles often helps businesses achieve long-lasting value in the
future, so sustainability becomes a crucial factor in strengthening the resilience and success of
enterprises.

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1.3 The Triple Bottom Line & Model

The Triple Bottom Line (TBT): referring to TBL as a strong and

penetrating metaphor, Henriques (2007, p. 26) provides an account
of its classification as the TBL concept by Elkington in 1997. Back
then, in the late 1990s, it was a far cry from a known term.
Currently, there are more than 5,000,000 web pages appearing in
the Google search list upon entering the phrase "TBL,” contrary to
the 52,400 pages in 2004 (Norman & MacDonald, 2004).
Undoubtedly, TBL means an additional framework to examine
issues that encompass a wide range of environmental (eco-social
and economic) aspects. (Elkington, 1997) TBL gives a framework
for assessing company performance and then organizational success on the basis of economic,
social, and environmental criteria. It was also portrayed as an integrative design framework
featuring a sustainability point of view (Roger & Hudson, 2011). In the case of businesses, the
core principle of the TBL approach is consistency and fairness in regard to the economic, social,
and environmental activities of organizations.
Environment sustainability: pay attention to Generation Next innovations that facilitate the
continuity of growth and development in human society. Incorporating green productivity
technologies such as bioenergy and renewable energy earns space for the concerns of agronomists
(Thangavel, P., Sridevi, G., 2015). Preserve the natural environment and habitat to maintain the
optimal health and welfare status of present and future generations. Therefore, the driving force
behind environmental development is the emphasis on the orientation role of the environment.
(Sphera, 2020). General term, which refers to the very fact of maintaining balance, as that can help
humans utilize natural resources without causing decimation of ecosystems capacity to grow their
services and keep ecosystems healthy. (Vos,2007).

Economic Sustainability: regardless of whether businesses operate financially or not, they can
still expand while focusing more on social and environmental issues. The objective is the
development of the economy, which comprises the compatibility of the processes of growth and
development in order to bring a positive change to business. (Stephanie Safdie,2023). Economic
sustainability seeks to boost the provision of goods and services in a short period of time and again
increase the income of a particular group of people. (Texeira et al., 2016). Actions that ensure
sustainable management of the environment, culture, and society, as well as favorable economic
development of a company or country. In the long run, not many organizations sustain themselves
economically because they, to some extent, already know about the kinds of businesses that pollute
the environment. (Joseph J. Bish, MS, 2021).
Social sustainability: providing for people's needs at the moment and doing so in such a way as
not to jeopardize the future. It is part of having other people maintain material items yet still obtain
what they want. (Maya Fischhoff,2021). Making sure that the community is not just surviving, but
it also has the ability to grow and exist in a way that is healthy, fair, and equitable. Through quality

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of life improvement and relationships's strengthening, people can realize their potential. (Susanne
Ricee,2022). Stress the positive and negative effects of people on business. How much the
employees, workers, customers, and local community are affected by the behavior of a company
is impacted by its interactions and engagement with stakeholders, hence the need for proactive
intervention to minimize any negative impacts. The three key factors discussed above are critical
and form the basis of the business, which is in a position to grow sustainably. Additionally, several
vital components, including law, supply chain, consumer behavior, business model, product
lifecycle, technology, and innovation (CSR), are also essential to mention.

IV. Background and Context

1. Overview of the Electric vehicle industry in the current management landscape

The electric vehicle (EV) sector is a very dynamic and fast-growing one in the entire global
economy, and it has quite a number of impacts on the management landscape that are undefined.
The market for electric vehicles is showing a fantastic rise that is based on support policies,
technological innovations, personal tastes, and concerns about nature. In the majority of cases, the
IEA states that the number of electric vehicle sales exceeded 10 million units worldwide last year
and is expected to rise to 14 million units this year. In 2022, they made up 14% of the total model
sales and might possibly reach 18% this year. The competition in the electric vehicle industry is
quite high, where both old car manufacturers and new startups struggle for shareholders and
consumers’ preferences. The rankings of these three companies are: BYD, Tesla, and SAIC-GM-
Wuling, lagging behind BYD due to the competition with other electric vehicle models. Regional
disparities also play a role in the competitive landscape; for instance, Chinese dominance of the
electric vehicle market, Europe's stronger growth, and no commendable performance from the
United States. Furthermore, the electric vehicle industry is confronted with a number of challenges
as well as uncertainties, such as raw material availability and prices, infrastructure development
and deployment for charging stations, rules and standards of electric vehicles, electric vehicle
integration with the power grid, customer acceptance of electric vehicles, the adoption of electric
vehicles, and much more.

Thus, the electrical car market is such a complex and growing industry that the analysis of the
factors and the study of their influence on the market are of no small importance for the successful
activity of the companies. Now, the market puts emphasis on ESG criteria. This is, in fact,
important for investors, consumers, and regulators as well. ESG factors are a non-monetary
assessment standard that is relied on for sustainability problems, corporate governance, and
product impact on ethics. EV adoption facilitates the achievement of ESG objectives by reducing
greenhouse gas emissions, upholding human breathing standards through air purity, securing
energy, unleashing job creation [mediators], and overall stimulating innovation. The electric
vehicle industry is very fluid, and it needs capabilities and complex management strategies and
skills, for instance, skills that defeat uncertainty and change nothing that happens rapidly, skills
that work together and competition, sector and region alignment, skills to achieve balance between

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innovation and efficiency, and skills to cease integration practices, skills to consider the
environment and sustainable governance (ESG) in the decision-making, and skills that allow
communication and engagement of different Summarizing EVE industry management, including
its development and hidden threats and possibilities, is one of the burning questions for managers,
enterprises, and society. Conjointly with the EV industry and the green transition, there is an
intensifying demand for a zero- and low-emission future. In recent years, there has been significant
advancement in the electric vehicle (EV) industry, making a notable impact on the global
automotive market. In recent years, there has been significant advancement in the electric vehicle
(EV) industry, making a notable impact on the global automotive market.

Global Electric Vehicle Industry Progress: The dominance of the electrical vehicle (EV) sector
has been enormous, with over 10 million electric cars all over the world last year, up by about 43%
from the prior year. In 2020, respectively, 2/3 of new electric vehicle registrations and stock were
BEVs. Significantly, the country with the greatest presence on the market was China with 45
million electric vehicles, while Europe had the biggest growth with 32 million electric cars.
Market Trends: Economically, the pandemic will have done great damage by the end of 2020,
but electric vehicle registrations in key markets are increasing. Worldwide electric vehicle (EV)
sales nearly amount to 46 million units that were sold in 2020, with almost 3 million new electric
cars bought. It was Europe that had the highest rating among new registrations, with 14 million,
followed immediately by China with 12 million and the United States with 295 thousand
registrations.
Emerging Markets: Countries like India, Thailand, and Indonesia experienced a particularly high
rate of growth in electric vehicle sales. However, this was from a rather small base. Taken together,
these countries increased their electric car sales to 80000 units in 2022, which is twice as much as
what they sold in 2021. The Indian EV industry and EV component sector benefited from various
incentives, both fiscal and non-fiscal.
Policy Initiatives and Climate Goals: National policies and incentives, which are considerable
in their role of developing and promoting electric vehicle usage, will remain a driving force of the
industry. The IEA (International Energy Agency) Stated Policies Scenario forecasts a 35% market
share for electric vehicles worldwide by 2030, it claims. The main actors in this transition, such as
China, the United States, and Europe, are the centers of attention. The competitiveness is getting
more complicated with the coming out of companies that are well established that overthrow those
who are starting businesses. The adoption of electric vehicles (EVs) by companies that consider
environmental, social, and governance (ESG) benchmarks is promising for future sustainable
development. It will be growth intertwined with increased adoption and a continued effort to
innovate.

2. Adherence to ESG Criteria:

The eco-friendly vehicle sector advances as good governance, social well-being, and ecological
sustainability arenas (ESG areas) are adhered to. In consideration of environmental focus, the main
target speaks of decreasing carbon emissions relevant to transportation. Even though the

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automotive industry remains a significant source of greenhouse gas pollution, battery electric
carmakers have taken on the challenge of finding an effective solution to this pivotal
environmental problem. To begin with, the power switch to electricity greatly lowers the emissions
stemming from the tailpipe, given that the traditional ones do. Moreover, the goal of spreading
efficiency in the supply chain among eco-friendly materials and high-level logistics solutions helps
reduce the total impact on the environment. By carrying out a lifecycle assessment of EVs, from
production to disposal, a general understanding of the impact and social advantage of EVs can be
addressed.
Regarding ethical stakeholders, the question of social accountability is always necessary. This is
happening through building relationships with employees, communities, and consumers through
actions such as test driving and training for mechanics. Vocabulary: Fostering: encouraging,
nurturing, and promoting. The maintenance of fair labor standards in the manufacturing field,
employment creation and infrastructural development among local communities, and consumer
education on how EV trips contribute significantly to society are some of the strategies that may
be utilized in this context. Regarding the governance standards, the key issues require that
competitive dynamics and transparency be maintained. The EV sector is up against not only the
established big enterprises but also a burst of start-up automotive companies. Facilitating
democratic leadership, transparent decision-making processes, competent senior executives,
ethical values, and powerful accountability mechanisms are the basis of corporate control.
Regulating the activities to follow the norms and rules and evaluating technology specifically with
market shifts and supply chain disruptions remain fundamental obligations of governance. Finally,
a general and consequential integrated vision within the developing electric vehicle industry needs
to encompass the concerns of the environment, the duty of society, and the efficiency of
governance. The organizations and companies that follow the guidelines of ESG are not only
aiming to achieve success but also manage the future of the planet in the common interest.
3. Historical Context:

2.1 Historical background:

The electrified vehicle industry has gone through ups and downs, having been born at the end of
the 19th century and the beginning of the 20th century. By that token, electric cars started to
compete with conventional vehicles (such as steam vehicles). and oil to overcome diesel for the
supremacy of market share. For various reasons, including weak charging networks, short range,
and low battery performance, EVs had become uninteresting and lost their share in the automotive
market around 2012. The electric vehicle industry has experienced a renaissance, which began in
the late 20th and early 21st centuries, in response to mounting pressures connected to the
environmental and social costs of internal combustion engine-powered cars. Typical problems in
this case are assigned to air pollution, greenhouse gas emissions, oil dependence, and energy
security. The governmental interventions also played an important part in the development and
marketing of electric vehicles. They introduced emission standards, subsidies, and tax benefits for
electric cars, and they also invested in charging infrastructure.

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The electric vehicle field has increasingly become smarter in technology and cost reduction,
especially in the battery, motor, and charging. With these advances, the performance, range,
reliability, and cost of electric vehicles become comparable to or even exceed those of internal
combustion engines. In addition, this industry is also influenced by shifts in consumer demands
and choices, like the rise in awareness regarding environmentally friendly and sustainable
products, the use of new mobility services, and the coming of new business trends, as well as the
coming up of new markets and niches. In the e-mobility market, competition is increasing more
than anything. Not only existhicle manufacturers, but also the later are geared to obtain new clients
and keep their market share. The top three in the 2022 ranking are in the following order: BYD,
Tesla, and SAICGM Wuling, in which Tesla has come after BYD as the number of models by the
competitors has grown.
The competitive strategy is pushed by ethnic diversity, like China’s electric vehicle market
dominance, while Europe is accelerating its growth and the USA is lagging behind. This
development is interesting because the electric vehicle industry is winding up to meet ESG
standards (environmental, social, and governance), which are gaining significance amongst
drivers, i.e., customers, investors, regulators, and society in general.

2.2 Important milestones:

As much as the mind-boggling breakthroughs realized in this sector have been surprising, the
broader implications of the emergence of the electric vehicle (EV) sector are even more
momentous. On the one hand, established car manufacturers invest in transitioning to alternative
fuels, managing their own emission output, or responding to public demand for greener practices.
The pivotal moment has come after the spinning wheels of the company since 2003, during the
period of its establishment. Concentrating on the original Gen 3 of EV Teslas underlining long
driving ranges of about 300–400 miles caused the other market players surprise because both new
EV models and consumers were quite determined. It was the bird that shook the cage, but all the
other birds also had to start flying because of Tesla’s success, which put some pressure on other
car companies as well. Government policies and schemes may well be important in the EV
industry, and without them, it would become stranded and untenable. Governments from all across
the globe have had this mission to make policies and plans in order to prepare for the future through
the use of such measures as tax pardons, rebates, and directives for vehicles with no emissions.
These two policymakers are responsible for catalyzing the switch of consumers and automakers
to electric vehicles with their practical policies. Following that, building these policies into the
rule is essential for the government. Nissan Leaf, released in 2010, set forth new trends for the
push of production all-electric vehicles by being the first car of its kind, a contribution that is and
will be crucial for the market of green vehicles. These vehicle models exhibited by their company
are both within the reach of many and practical enough that their example might just have set the
path for others to follow.

E-vection growth in People’s Republic of China is the end result of the working concertedly of
several factors. By means of both the substantial governmental subsidies, long-term manufacturing
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plans and the growing middle class population in China manufacturers of electric cars have hit a
big stride and become a real game changer on the world stage. In their 2020 decision to be
"firstmovers" and the EV manufacturing industry leader, Volkswagen showed a clear side towards
100% electric mobility. This strategic decision clearly highlights the Changan Automobile's
interest in the already existing trend of replacing the traditional combustion engines with EVs as
the automotive sector moves in a new direction. The availability of charging infrastructure on a
large scale around the globe has been central in putting driver's Range Anxiety in the back and
moving towards electric vehicles (EV) adoption. The extension and upgrading of the charging
infrastructure network have significantly increased convenience, which is one of those factors
having an effect that has been contributing to the progress of the EV industry. As the state of the
art in the rechargeables progresses especially in the solid-state batteries, they can offer superior
performance, including longer EV ranges, and quicker charging periods. The consequent
innovations in the EVs have not only changed the driving experience, but they have also helped in
paving the way for EVs into the mainstream market by improving their economic efficiency and
cost effectiveness. The involvement of carmakers in the production of EVs has resulted in a
division of labor, which has made it possible for them to effectively share resources, competencies,
and economic tradeoffs. This has been the driving force behind the improvement of the overall
sector. These alliances have led to product development by pooling knowledge and skills, which
has in turn given the EV sector an edge over the internal combustion engine technology.

The debut of an up-and-coming American company named Rivian that, in addition, is shining due
to its innovation in electric vehicles, in particular trucks and SUVs, showed the true potential of a
new player in this market to disrupt the market. The fact that Rivian has gained so much traction
proves that in the harshly competitive market of EVs, both innovative and differentiating strategies
are key. Besides that, the whole issue of adding environmental, social, and corporate governance
(ESG) principles to business strategy models became globally popular and was recognized as an
effective approach towards achieving sustainable business growth. Societal stakeholders today no
longer just attribute a company's reputation to the manner in which it conducts business but also
consider its environmental sustainability, social responsibility, good governance, and ethical
practices. These non-traditional investor groups are increasingly attracted to enterprises whose
natural resource conservation and ethical pillars align. The emergence of such trends drastically
changed the atmosphere in the wide-spread electric vehicle industry. As it once did, the field now
places a great deal of attention on sustainability factors, innovation, and ethics as the significant
pillars of its growth and development.

V. Analyze and Discussion

1. Apply management theories and concepts related to Sustainable Practices
1.1 Battery Technology and Cost Management:

While theoretical management is fundamental to battery technology, whether it be on the

management or cost management component, it revolves around the use of measures that reduce

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the cost of supplies, the production process, and the logistics of supply and deliverability.
Nevertheless, it should be taken into account that the production of batteries must follow the
sustainable development goals, taking into account the ESG factors. This will be achieved by
raising the triple bottom line of emission reduction, sustainable materials, and a collaborative
fabric of fair working conditions.

1.1.1 Tesla:

By using Tesla the demo of ESG shows the company addressing all three ESG issues:
environmental, social, and governance. Moreover, EVs are the only components that make the
blue sky possible as they keep the air breathable. The leading electric vehicle manufacturer, Tesla,
has brought an array of super high performance electric vehicles to the market among the which
we can mention the Model S, Model X, Model 3 and Roadster while all of these fully replacing
vehicles that burn fuel so they stand to prevent emissions into the environment. As a first
confirmation of it, they have clearly demonstrated their ambition in the field of fighting the air
pollution as well as the emission of CO₂ and their commitment to electromobility. When such a
tendency goes on growing, then people learn and adapt to these renewable, more convenient means
of transport. On the other hand, Tesla have, so far, established the environmental source where
EVs and batteries are bought from. But this kind of businesses doesn’t just want to be
environmentally conscious operators but they also want to have a stable supply of their companies’
products. Tesla is also very much aware of the cleaner energy production issue and the engagement
in using solar panel as the rechargeable source by the batteries is one of them. The point of this
step is the cut of production of greenhouse gases and it aims to involve people into green movement
with clean energy consumption that corresponds with the agenda green policy. As a company
management leadership, Tesla has done this by incorporating all ESG measurements equally to
their job responsibilities along with alignment of various governance activities. As a result, it
guarantees that long-term shareholders with an ESG view create values for their companies that
attract financiers who have ESG tags on their portfolios. The Tesla company's main aims to
provide electric cars to the market and to eliminate air pollution point to the only real commitment
of the company in developing green technologies which tests that they care about the environment.

1.1.2. Geely Auto

The massive electric drive development, and also the ESG practices of Geely Auto - the well
known car conglomerate of Chinese automotive were in line. Here are some significant points to
note: Below are some notable aspects:
Emission Reduction: Geely Auto aims to achieve carbon-neutral through its general outlined value
proposition, which requires evidence and commitment of great reduction in emissions during both
the production and usage steps. Their Corporate Sustainability Report outlines the plan to halfway
by carbon emission per vehicle in the next 8 years before zero emission vehicle in 2045.

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Electric Vehicle Innovation: As an organization that heavily invest in the developement of EVs
that are in line with UNs Sustainable Development Goals, the Green Company recognizes clean
and sustainable future one of its key priorities. Geely Auto categorized EV into one of thriving
leadership businesses by putting more emphasis on powertrain improvements as a step toward an
electrified future.

ESG Integration in Governance: As Geely Auto realizes its ESG strategy, having envisaged an
ESG future that envisages the implementation of sustainability and improved living standards for
the consumers is something that the firm gears towards. Promoting the use of sustainable resources
which enables the creation of an innovative magnetic system transport in the town is the priority
of the purpose statement of this organization. This planet is committed to getting the renewable
energy which is use in different sectors. It has six objectives of sustainable development which
include climate neutrality, nature, safety, digital aspects, innovation, good life to the citizens and
ethical governance. At the end, the are the Geely Auto projects aimed at optimization of batteries
manufacturing, as well as creation of the most modern electric cars technologies, which are
trending in the world today to create of pollution-free environment. Along with that, the procedure
should be coherent with the ESG principles considered in the auto industry section.

Hyundai Motor:

Mainly, ESG practices within the operations of Hyundai Motor will be achieved within a
framework of sustainability which involves a holistic approach. And among the main contributing
factors is the road toward carbon neutrality at 2045. This pertaining goal embraces all the sectors
of operation, be it the starting point of the material source, the production processes and even when
the vehicle usage phase comes into a play. While Hyundai is introducing eco-friendly cars that
have low emissions, the brand has gone a step further and included reduction of emissions during
the production of its cars in its strategy to combat climate change. Sustainable energy conversion
is another main move which will be done by Hyundai in this way. By 2050, the company aims to
be in an all-renewable energy powered mode of operation. This critical action manifests the global
commitments on imperative reduction of carbon footprint, moreover the production of electric
vehicles which are expected to solve the problems of the future endangered transportation.
Following their promise of sustainability, Hyundai is actively participatory in the DVEVS
movement and green energy solutions. Through the support and determination to keep developing
eco-cars with hybrid and pure electric models and exploration of innovative ways of generating
green energy, Hyundai undertakes to speed up the process of the introduction of environmentally
friendly modes of transportation by at the same time, reducing carbon emissions from the
traditional cars.

Collaboration acts as a curtain rod to sustainability measures taken by Hyundai. Collaboration with
the prominent industry actors such as SK and LG Energy Solutions that provides consistent
supplies of batteries and green energy will fuel the power of EV. These collaborations allow

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Hyundai not only to have the operational efficiencies which are critical to its existence but also
promote sustainability amongst its peers in the business and other stakeholders. It is notable that
through this proactive approach at the level of emissions reduction and adoption of
environmentally responsible solutions, the company demonstrates its clear vision to bring into the
automotive industry a positive change. With innovation as driving force, collaboration as the driver
and a resolute commitment to ESG, Hyundai stays that path for build a more eco-sustainable future
for the mobility.

1.2 Charging Infrastructure and Economics

In the context of charging infrastructure and economics, the application of economic theories plays
a significant role in the development of charging stations. This includes considering fixed costs
related to installation and equipment, as well as variable energy costs influenced by electricity
prices. Moreover, ESG considerations are paramount when designing charging stations to promote
sustainability. This can involve integrating renewable energy sources, optimizing energy
efficiency, and addressing social equity by ensuring accessibility for all communities.

1.2.1 Planning Charging Infrastructure: Strategically stand installing charging stations which
makes them more available and less expensive to install by analyzing the traffic flow, population
density and other infrastructure to place them where the eyes them the most.
Smart Charging Algorithms: The algorithms that are run on this grid will effectively manage
charging demand. Therefore, the grid congestion will be prevented and peak loads will be balanced
out. The algorithms that are used consider the user preferences, grid capacity, and the energy
availability among other factors.
Charging Demand Prediction: Precise predictive models have a huge potential to help to foresee
charging needs, better resource allocation and loading-balancement delivery, i.e.

1.2.2 Renewable Energy Integration:

Solar-Powered Charging Stations: Installing solar panels on the charging stations helps to produce
clean energy which is essentially taken from the grid and the cost of operation is being reduced.
Wind Turbine-Powered Stations: Using wind energy to charge EVs, i.e., in windy areas, is not only
a sustainable energy option but another one of many.
Hybrid Charging Infrastructure: The combined power of solar, wind, and grid electricity is
designed to achieve dependability and sustainability in charging stations.

3. Energy Efficiency Measures:

Energy Storage Systems (ESS): On-site energy storage station and charging station can store
energy that is not needed during off-peak times and may be used during maximum demand periods,
reducing the problems to which the grid is subjected and improve energy supply.
Vehicle-to-Grid (V2G): EVs accompany with grid during peak demand times and act as a mobile
charging system. V2G technology improves the grid stability keeping the expenses minimal.

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1.3 Government Incentives and Policy Management

Analyzing policy frameworks and incentives is essential for encouraging the adoption of electric
vehicles (EVs) through effective management strategies. Understanding how government
interventions influence market dynamics is key to fostering growth in the EV sector. Furthermore,
evaluating policies based on their environmental impact, social implications such as job creation,
and governance effectiveness, including transparency, is crucial for promoting sustainable growth
in the EV industry.

Market Growth and Industry Forces: To navigate market trends, competitive forces, and disruptive
innovations effectively, applying strategic management concepts is vital for positioning EV
companies for success. By studying industry dynamics, companies can adapt to changes and
capitalize on emerging opportunities. In terms of ESG considerations, assessing industry growth
in relation to its environmental impact, social benefits like improved air quality, and governance
compliance is essential for ensuring sustainable development within the EV sector. Governments
which create incentives for a wide-spread switch to an electric car are the cornerstone of EVs
adoption within the international community. These incentives constitute a wide range of policies
and provisions that aim to attract more car owners to own an EV, and to ease the financial burden
on the drivers because of buying and operating an EV. What I will be discussing are a few
strategies countries that are actively making it easier for consumers to drive EVs have to put in
place.

1. Purchase Subsidies and Tax Rebates: There are some nations that give financial support to have
the start-off cost of an EV lessened. Numerous mechanisms, such as advantageous purchase taxes
and vehicle registration rebates, may help to achieve this. The Scandinavian country became the
leader back then in that field making the gap in the prices of such cars and regular vehicles
tighter. By successfully implementing this policy from its own experience of progress, the USA
began the EV incentives in 2008, while China chose a similar path in 2014. Further, the Union has
been important in holding up the sales’ figures of electric cars by the EU's standards.(Lu, J,2018)

2. Fuel Economy and Emissions Standards: The market competitiveness in fuel economy and CO2
emissions has also come to the fore with the increase of EV adoption There is a status quo now
where more than 85 percent of global sale of cars are subject to these high criteria.(NHTSA,2022)

3. Mandatory Targets for EV Sales: Although this market has confronted problems like a Japanese
disaster and sector slowdown due to COVID-19, there remain significant numbers of lucrative
opportunities. Projections show that by 2026, electric vehicle market will have a market size of
USD 606.1 billion. This growth can be explained by the already established presence of region in
the EV market, which has set targets for EV penetration. Other regions like
California.(Environment and Climate Change Canada, 2022)

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4. Charging Infrastructure Support: The opening of EV charging infrastructure for broad
application echo demands convenient and inexpensive stations. The administration installs public-
charging points to provide a two-way approach promoting charging at home by EV owners. In
some places the demand for these new stations is creating the need for additional construction
projects which now includes charging abilities. (Mg, L, 2022)

5. Enhanced Value for EVs: Cities locate charging stations and set up zero-emissions zones
strategically which leads to EVs becoming popular. They make sure that incentive programs for
certain lanes mean increased use of electricity-based transport. (McKinsey&Company,2021)

6. Government Funding for Affordable EVs: In the UK, the government awards lumpsum grants
of up to £1,500 for electric cars that cost less than £32,000, thereby encouraging the poor to access
and embrace EVs as well. (Harrison,,2021)

7. Rebates and Tax Exemptions: Countries like Australia, for instance, provide rebates up to $3,000
for EVs priced below $68,750, besides some other benefits, including, e.g., exemptions from stamp
duties and road user charges for these vehicles.( Bourke,2022)

8. Global Trends: By 2022, the portion of the all-electric passenger vehicles being sold across the
world will account for 10%, a robust number compared to the previous five years. Factors
including, declining cost, development of technology, and government efforts serve as a power
behind this growth. (International Energy Agency,2021)

In summary, therefore, these incentives are very important for the introduction of a greener and
more sustainable form of transport that comes with cleaner atmosphere and less carbon pollution.

1.4 Lifecycle Analysis and Sustainable Practices

Implementing lifecycle cost analysis methodologies is key to understanding the overall economic
impact of EVs throughout their lifespan. This analysis considers factors such as manufacturing
processes, vehicle usage, and end-of-life disposal practices to optimize sustainability efforts.
Promoting sustainable practices across the entire lifecycle of EVs, including responsible sourcing
of materials, efficient recycling initiatives, and waste minimization strategies, is crucial for
reducing environmental impact and enhancing the long-term viability of electric transportation.
Among those things, ELVs (electric vehicles) have sustainable practices to reduce the burden on
the environment and to make sure they can satisfy the long-term needs of EVs.

1. Life Cycle Analysis (LCA): By leveraging the power of technology, machine learning
algorithms such as these will play a huge role in shaping the future of healthcare and enabling
individuals to take more control over their own healthcare. Carrying out a complete life cycle

18
assessment is the main criterion for analyzing the environmental impacts of EVs with regard to
various phases of their lives. This analysis comprises various factors, including the consumption
of energy during the entire lifetime of EVs, the related carbon emissions, and others. As an
instance, the City of Vancouver’s study contrasts the ecological efficiency of an ICEV Ford Focus
and an EV Mitsubishi i-MiEV spanning a 150,000 km lifecycle. The data analysis demonstrated
the EV to be very environmentally friendly indeed, as it emitted fewer carbon emissions overall
and consumed less energy for every kilometer.

2. Recycled Materials in Car Production:

The automobile providers of the electric vehicles are now implying a very high rate of
incorporating the recycled materials in their construction methods. The fact that manufacturers are
adopting recycled plastics, metals and others components of inputs, then contributing to
environmental protection through the reduction of environmental impact of the manufacturing
process. This is an approach that favors conservation and recycling of materials and ultimately
aiding the reduction of the use of virgin materials.

3. Efficient and Long-Lasting Batteries:3. Efficient and Long-Lasting Batteries:

The ability to build batteries of high performance which have a long life span is needed for the
EVs to sustainability. High-quality battery technology confidently allows EVs to continue their
service more often avoiding repetitive replacements. Sturdy batteries not only make EVs more
sustainable but also allows to increase reuse of the resources which in turn eventually reduces
waste generation.

4. Renewable Energy-Powered Charging Infrastructure:4. Renewable Energy-Powered Charging

Infrastructure:
Setting up power outlets for charging powered up by renewable sources will make sure that fuel
for EVs is sourced from clean and sustainable forms of energy. Solar panels, wind turbines, and
other renewable equipment are suitable to act as the the power sources of these stations. This
method is in alignment with the aim of the EV infrastructure establishers to put off the greenhouse
gas emissions produced by EV charging.

5. Carbon Offset Programs:

Certain EV producers and charging networks developed carbon-offset programs bought
voluntarily by customers. These schemes help passengers to overcome the emission of their
vehicle's by investing funds in the projects that either decrease or catch the carbon altogether on
another venture. Reclaiming wetlands, biodiversity restoration, green energy programs, methane
capture projects can be considered as a part of such efforts.

6. Closed-Loop Manufacturing Processes:

Closed-loop manufacturing needs to formulate items and procedures that should bring about the
minimization of waste. In an EV context, this includes extracting all components from the end-of-

19
life vehicles and introducing them back into the manufacturing process. Such as, BMW's material
recovery program decomposes the old EVs and uses the recycled elements back again for the
manufacturing processes.

2. Analyze challenges, opportunities, and implications:

2.1 Challenges:

Survey shows that electric vehicle range and price remain challenges. The higher cost of buying
an electric car and the lack of charging stations like gas stations makes consumers worried. Wang,
Z, 2021). Subsidies can help reduce costs, but they are often short-lived. These issues relate to the
performance and cost of the engine systems, with range depending on efficiency and power/torque
density. There is still no comprehensive research on the design and control of electric vehicle
motors capable of traveling long distances.

2.1.1 Battery:

Lithium-ion batteries (LIBs) are essential for decarbonized future energy and transportation
systems. Current safety standards in the auto industry have benefited from more than 130 years of
development and improvement, and Electric Vehicles (EVs) and LIBs are still in their infancy.
Even when operating under normal conditions, batteries still generate heat, especially in hot
weather conditions or in large battery packs (Paul,A,2021). Temperature increases can cause
unwanted parasitic reactions, leading to uncontrolled heat loss in the battery. In mechanical,
electrical and thermal situations, such as case damage, electrical and thermal overload, which can
occur when an accident occurs, increase the battery's thermal runaway rate (Metais,M.O,2021).
Therefore, understanding the performance of lithium-ion batteries under unsafe conditions is
critical to producing safer battery cells.

When a battery is overcharged or over discharged, or is being subjected to an external short circuit,
unwanted electrochemical reactions will occur in the battery. There are many causes of battery
overcharging. One of them is the heterogeneity of battery cells. If the management system cannot
effectively monitor the voltage of the battery cells, there is a risk of the battery being overcharged.
Because excess energy is stored in the battery, overcharging is dangerous. Usually, batteries are
charged to a specific SOC level, but some batteries have a higher SOC before charging, leading to
them being overcharged. The first overload causes decomposition of the electrolyte at the cathode
surface. This increases the battery temperature slowly. Then, the excessive reduction of Li ions
from the cathode leads to the formation of Li dendrite. The generation of heat and gas in the side
reactions can lead to safety accidents, such as cell overheating and rupture. Under normal voltage
and temperature, only Li ion exchange occurs in the electrolyte during the charge and discharge
cycles at the battery's cathode and anode. However, at higher temperature and voltage conditions,
the electrochemical reactions become more complex, including the decomposition of the solid
electrolyte interface (SEI) membrane, the release of oxygen on the cathode side, and

20
Electrolyte/electrolyte side reactions. Decomposition of the SEI film and initial surface reactions
accelerate the process temperature increase, increasing the risk of oxygen release from the active
cathode materials. These reactions eventually lead to thermal run away from the battery, causing
battery rupture and explosion due to the reaction between hot flammable gases from the battery
and surrounding oxygen
Many incidents have provided important safety lessons, especially where the use of lithium-ion
batteries (LIBs) is concerned. These problems can arise from using new or reused batteries a
second time of unknown origin, increasing risks and safety concerns. The final treatment of LIBs,
whether first or second generation, is necessary and will become increasingly important as the
electric vehicle market develops.

2.1.2 Infrastructure

Large-scale adoption of electric vehicles faces many challenges. One of them is that the purchase
price of electric vehicles is still quite high, although the purchase price is expected to decrease in
the near future. In terms of total costs to own and operate, electric vehicles are already cheaper in
some countries. Another barrier is anxiety about the range of electric vehicles. Although the battery
capacity is enough for daily needs, the worry of running out of battery while traveling is still
there(Jack, N,2020). Increasing battery capacity or providing efficient charging infrastructure can
help alleviate this concern. However, deploying charging infrastructure is expensive and faces
technical and economic limitations. The Energy Transition Act in France targets 7 million electric
vehicle charging stations by 2030, at a minimum cost of around 2 billion euros. Similarly, ICCT
estimates say about $1 billion in investment is needed for the United States to fill the public
charging infrastructure gap. To solve this problem, the first step is for operators to invest in
infrastructure. Then, optimal deployment of electric vehicle refueling infrastructure is also a
challenge. Coverage and location models can be applied to refueling stations, but need to take into
account the unique characteristics of electric vehicles, such as longer charging times compared to
refueling. Models developed since the 2000s have taken these characteristics into account

2.2 Opportunity:
2.2.1 Customer demand:

Although electric vehicles are going through a period of initial popularity, attracting only a
small portion of users, this group is distinct from the general population. But according to
experts' predictions about the future of electric vehicles, there will be strong growth ranging
from 10% to 70% of the market share in the next 20 years, showing a lack of consensus on the
speed of transition. The following personal benefits have helped electric vehicles receive favor
from consumers. First, electric vehicles are often cheaper in terms of electricity than diesel
vehicles. Calculations show that traveling by electric vehicle can save costs compared to using
oil. Second, maintenance costs and inconveniences associated with conventional vehicle
maintenance are often significantly less when using electric vehicles, because electric vehicles

21
have fewer moving parts and are less prone to problems. Third, electric vehicle owners can
charge their vehicles at home through the home's electrical system, eliminating the need to use
external commercial charging stations. Ultimately, electric vehicles offer a better driving
experience, from incredible acceleration to a quieter driving experience.

2.2.2 Improve reputation:

Demand for electric vehicles has increased in recent years based on the fact that CO2 emissions
from the transportation sector are growing faster than other sectors. These emissions come from
the carbon fuels the industry uses, mainly gasoline and diesel. In 2018, the transportation sector
accounted for about 14% of total greenhouse gas emissions and a quarter of emissions from
burning fossil fuels. Passenger vehicles are responsible for the majority (72%) of emissions.
Therefore, fuel substitution is important in reducing climate impact. Second, it is now clear that
electric vehicles produce significantly less CO2 emissions in most countries than conventional
vehicles. The cleanliness of electric vehicles depends on many factors, including operatin g
efficiency and power supply. As the grid becomes cleaner, electric vehicles will help reduce
local air pollution. Another benefit is reduced oil imports, increased security of supply and
reduced price volatility. In short, the transition to using electric vehicles brings many worthy
social benefits, electric vehicle manufacturing businesses have also created trust from
customers about environmental responsibility, enhanced position and its competitiveness

2.2.3 Support from the government:

Governments around the world have introduced incentives for purchasing electric vehicles.
Without these incentives, electric vehicle purchases would be more limited than the current
situation. But for now, there are no signs that government incentives will not continue. Social
benefits from the transition to electric vehicles appear to be an integral part of the automotive
environment. Governments have different incentives with varying degrees of positivity. These
measures include raising awareness about electric vehicles, building better infrastructure and
subsidizing the purchase of electric vehicles. Measures to raise awareness often include
building websites and organizing events to introduce electric vehicles. Measures to support
better infrastructure include building more charging stations and distributing parking permits
and electric vehicle lanes. Electric vehicle purchase subsidies include rebates and tax credits.
Disincentives may also be applied, such as imposing high taxes on conventional vehicles and
restricting conventional driving in some locations

VI. Recommendations:
1. Offer practical recommendations based on your analysis:

Improved range: Focus on investment in R&D to develop cleaner batteries extending the range of
driving per charge. This could be a consequence of the discoveries in battery chemistry that will
bring us improved energy density and the development of rapid charging solutions.

22
Cost reduction: Make cutbacks in the production costs of batteries via using economies of scale,
technology innovation and appointing suppliers strategically. Furthermore, the governments will
incentives or subsidies to be provided to electric vehicle manufacturers so as to ensure reduction
in the production costs and hence make the electric vehicles inexpensive for consumers.

Infrastructure development: Expand charging infrastructure to cater to the longer driving range
anxiety and induce wider EV buying. Such program could be worked out with private-public
cooperation to erect charging stations along avenues like freeways, urban communities, as well as
as attract excise companies to set up charging stations on their premises their.

Enhanced safety: Develop and improve battery safety equipment to keep the temperature under
control and prevent overcharging as the power of batteries. This may include the innovation of
exceptional battery management systems, thermal management solutions, and equipment to the
electric vehicle that will be delivering high safety for them.

Market Awareness and Education: Institute campaigns aimed at raising consumer awareness on
the benefits of electric cars that are through the reduction of operating cost, lessening of
environmental degradation and driving experiences. Governments, industry coordinators and
electric vehicle manufacturers could be joined in a conjoint project to clarify electrical cars
possibilities and help this vehicle to spread.

Policy support: Lobby for the set up of regulations and subsidies that will fasten the adoption of
the electric-vehicle technology. Possible measures that can be taken in this regard include charging
incentives promotion, subsidies for charging infrastructures, and regulations to encourage the use
of zero-emission vehicles.

International cooperation: Support the development of standardization across borders which will
ensure that electric vehicle projects meet the United Nations agreements such as the Paris
Agreement. This, for instance, might take the form of knowledge and technology transmission,
together with joint research efforts for technology convergence, and developing the harmonization
of electric vehicle technology and charging infrastructure.

The major stakes players of electric vehicles investment can solve the presented problem through
the implementation of these recommendations as it will be a step taken to long term sustainable
growth and market coverage of the electric vehicles.

VII. Conclusion:

The article is ESG (Environmental, Social, and Governance) analysis with the central aim being
sustainability, standards, and ESG criteria in the electric-electric mobility (EV) industry. The initial
part focusses on the EV emergence, green future, and ESG significance while the in addressing of

23
ESG for evaluating firms. A report is introduced in two principal objectives, particularly an
examination of the EV segment expansion, competitive landscape, adherence to ESG criteria,
major obstacles, outstanding situation, and recommendations. The literature review explains the
sustainable business practices, the mainstreaming of ESG principles and their inclusion in
operational activities, and the Three Goals Approach (TBL) targeting the economic, social, and
environmental spheres. As well, it focuses on the global implication of ESG investing where
strategies are adopted and implementation is emphasized for long-term success, with an ESG view.

The introductory section, on regard of worldwide EV sector, states its proliferation in response to
support policies, tech innovation, and environmental issues. This includes its efforts in the
competitive landscape, imbalances within a region, and the development of infrastructure. The
power and necessity of ESG characteristics is demonstrated in an effort to promote sustainability
and innovation, too. This section of analysis and discussion, therefore, refers to management
notions that are related to the sustainable manufacturing technologies and practices specially in
the industry of EVs that include battery technology, charging infrastructure, government
incentives, market growth and lifecycle analysis. Moreover, it investigates personally held
challenges, possibilities and ramification in the EV realm including issues such as shorter range,
high price, safety issues, growing customer appetite, government subsidy and environmental
benefits. Generally, the document delivers the faithful overview of the industry development,
sustainability, barriers, and chances, concerning the responsible business approach and profitable
investments.

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Z. Wang, T. W. Ching, S. Huang, H. Wang and T. Xu. (2021).Challenges Faced by Electric

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IX. Appendices:

28