The Drive Electric Campaign, a global initiative to boost EV uptake, has said it has received $100 million in funding from the IKEA Foundation.
The funding will be provided over a four-year period.
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The donation will be used to help support campaigning and lobbying for the EV transition in Africa, Latin America and Southeast Asia under an initiative named the “Leapfrogging Partnership”.
Rebecca Fisher, Drive Electric Program Director said: “Most of the growth in vehicle demand is expected to occur in emerging economies by 2050, and the next several years present an opportunity for emerging markets to ‘leapfrog’ over dirty combustion vehicles to sustainable, zero-emission transportation.”
The Leapfrogging Partnership is launching with support from the IKEA Foundation, a strategic philanthropy with over 140 partners focused on tackling poverty and climate change.
Edgar van de Brug, Head of the Real Economy Portfolio said: “Decarbonising road transportation is essential to decarbonising society.”
According to Carbon Tracker, a Drive Electric partner, switching to battery-powered vehicles will save over $100 billion annually across Africa, Latin America, and Southeast Asia by cutting fuel import taxes and costs.
