Electric vehicle (EV) sales are gaining market share, with internal combustion engine vehicles dropping from 78% to 63% over two years, while EVs nearly doubled their share from 10% to 17.4%. Despite some market declines, particularly in Europe, the overall trend shows a strong shift towards EVs, driven by declining battery costs and improved technology. By 2030, replacing an EV battery is projected to be cheaper than replacing a gas engine, further encouraging consumer adoption.
Bose Corp. has acquired the McIntosh Group, a renowned maker of luxury audio equipment, along with Sonus Faber, expanding its presence in the high-end audio market. McIntosh will continue operations in New York, while Bose aims to leverage this acquisition to reach discerning consumers and explore opportunities in luxury wearables and automotive audio systems.
In 2024, global energy-related CO2 emissions are expected to peak, marking a historic moment amid a slow transition to renewable energy. Despite significant growth in solar installations and electric vehicle adoption, challenges remain in decarbonizing hard-to-electrify sectors and addressing fossil fuel subsidies. A coordinated policy push is essential to achieve the Paris Agreement's climate goals.
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