Can electric vehicles help Bangladesh achieve its emission reduction plan?

It is hoped that by encouraging the uptake of electric vehicles — among two-, three- and four-wheelers — Bangladesh can achieve its goal. The production of locally made lithium batteries and transformation of the sector through electric vehicles will aid the country’s emission reduction plan, industry insiders say.

Will Bangladesh phase out internal combustion engines?

To lessen pollution and reliance on fossil fuels, Bangladesh intends to phase out internal combustion engines in favor of electric vehicles. EVs favor lithium-ion battery technology over other types of batteries for propulsion. As part of this, lithium battery production is the first step to implementing the targets.

Are EV manufacturers working in Bangladesh?

According to government data, several local and international investors, including Bangladesh Auto Industries Ltd., Nitol Motors Ltd., Omega Seiki and others, are currently working to set up EV manufacturing facilities in Bangladesh with the collaboration of giant automobile producers like Toyota.

How big is the lithium-ion battery market in Bangladesh?

According to Mordor Intelligence, a market intelligence and advisory firm, the Bangladesh lithium-ion battery market size is likely to rise from $256 million in 2023 to $373.89 million by 2028, at a compound annual growth rate of 7.87% during that period.

What is Bangladesh's energy mix?

According to the Bangladesh Power Development Board, natural gas (49.07%), coal (11.46 %), furnace oil (26.95) and diesel (5.49%) constitute the most significant shares in the country’s energy mix. In comparison, renewable energy, including solar and hydro, has a share of only about 2.08%.

Will Bangladesh set up a lithium battery production plant?

In order to fulfill its promise of cutting greenhouse gas (GHG) emissions as part of the country’s nationally determined contribution (NDC) under the Paris Agreement, Bangladesh is on the way to setting up a lithium battery production plant with an annual capacity of 1 gigawatt.