The role of electric vehicles and eco-friendly technologies in reducing CO2 emissions.

By retaining heat in the atmosphere, pollution from the transport industry plays an indispensable role in climate change. In order to reduce transportation-related emissions, employing electric vehicles (EVs) offers an economical solution for attaining emission-free road mobility. In this context, the present study revisits the Environmental Kuznets Curve (EKC) and evaluates the consequences of EVs, innovations in environment-related technologies and renewable energy on the environment. To accomplish this, the study analyzed panel data from 38 economies covering the period 2013-2023, using the system GMM technique. The results demonstrate that employing EVs, renewable energy sources, and environmental technology are each significantly associated with reductions in carbon emissions. Specifically, a one-unit increase in EV adoption is linked to a decrease in carbon dioxide emissions by approximately 0.00000732 units, whereas renewable energy and environmental technology reduce emissions by 0.0005975 and 0.0548603 units, respectively. The findings support an N-shaped relationship between economic growth and CO2 emissions and a U-shaped link between innovations in environment-related technologies and CO2 emissions. To reduce emissions associated with transportation, this study suggests installing renewable energy to power EVs. Further, the study offers policy recommendations aimed at accelerating electric vehicle adoption, promoting sustainable economic growth, and supporting advancements in environmental technologies to effectively reduce CO2 emissions, while also outlining avenues for future research.