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Digitalization

The digital economy – the economic activity that results from billions of daily digital interactions among people, businesses, devices, data, and processes. It encompasses the creation, production, distribution, and consumption of goods and services that are enabled by information and communication technologies (ICTs), such as the internet, mobile devices, and digital platforms. The digital economy includes industries such as e-commerce, online marketplaces, digital media, and the sharing economy, as well as newer industries such as the Internet of Things (IoT) and blockchain. It also encompasses the way in which digital technologies are used to improve existing businesses and create new business models. The digital economy has significant impact on many aspects of society, including employment, education, and the way goods and services are consumed.

Decarbonization

Decarbonization refers to the process of reducing carbon emissions in order to combat climate change. It typically involves transitioning away from the use of fossil fuels, which are the primary source of carbon emissions, and towards cleaner, low-carbon energy sources such as renewable energy (e.g. solar, wind, hydro). It also involves the implementation of energy efficiency measures to reduce energy consumption, as well as carbon capture and storage technology, which captures and stores carbon emissions before they are released into the atmosphere. Decarbonization is seen as a crucial step in addressing climate change and achieving global goals such as the Paris Agreement, which aims to limit global warming to well below 2 degrees Celsius above pre-industrial levels.

EV

EV stands for electric vehicle. An electric vehicle is a vehicle that is powered by an electric motor, rather than an internal combustion engine. Electric vehicles use energy stored in batteries, which can be recharged through various means such as plugging into an electric power grid or through regenerative braking.

EVs are considered as one of the key technologies to help decarbonize the transportation sector, as they emit no tailpipe emissions and can be powered by clean and renewable energy sources. Moreover, they can also help to reduce dependence on fossil fuels and improve air quality.

There are different types of electric vehicles available in the market, such as battery electric vehicles (BEVs) that runs only on electricity and plug-in hybrid electric vehicles (PHEVs) that combines a gasoline engine with an electric motor. Other types of EVs include hybrid electric vehicles (HEVs) and fuel cell electric vehicles (FCEVs)