Notes on Climate
Impact of Car Sharing
By Hieu Le, CEO of Bonbon Mobility Pte. Ltd.
Friday, Jun 28, 2024An Invitation
During the height of the COVID-19 pandemic in 2020, I had an important realization: my next venture must align with the global climate goals of 2050, specifically achieving net-zero CO2 emissions. After all, what good is financial success if clean air becomes a luxury or an impossibility?
Reflecting on my childhood in the 1990s in rural Dong Nai Province, Vietnam, I remember cycling to school each day. Back then, a 30°C day was considered hot. Fast forward to 2024, living in Ho Chi Minh City, biking at midday seems crazy, and 34°C has become the new normal. As an outdoor enthusiast and avid cyclist, I have experienced the tangible effects of climate change firsthand.
These experiences have driven me to create BonbonCar, a self-serve car-sharing business. BonbonCar's vision is to provide the comfort and safety of a car to millions of households in Southeast Asia and beyond, in the most sustainable way possible.
Our estimates show that a shared car can reduce CO2 emissions by approximately 0.6 to 1.5 tons annually. If we successfully scale this to millions of cars by 2050, we can remove millions of tons of CO2 from the atmosphere each year. While this alone won't solve the entire problem of the 50 billion tons of annual global emissions, it represents a significant step. With around a hundred similar initiatives, we can achieve the 2050 target. The cost of inaction is simply too high and unpredictable.
I would like to call for your support in making BonbonCar a pivotal part of the solution to our global climate crisis.
Essential Facts
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According to a study by UC Berkeley, car sharing reduces greenhouse gas emissions by 10 to 13 percent per user [1].
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Each Volvo Car Mobility car replaces up to 8 privately owned cars [2].
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Customers who sold a car during their membership in Volvo Car Mobility, reduced their total distance traveled with cars by 43% [2].
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As 25% of energy-related global greenhouse gas emissions come from transport [2].
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Making a new car creates as much carbon pollution as driving it [3].
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The carbon footprint of a new car [3]:
6 tonnes CO2: Citroen C1, basic spec
17 tonnes CO2: Ford Mondeo, medium spec
35 tonnes CO2: Land Rover Discovery, top of the range
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The production and disposal of an electric car is less environmentally friendly than that of a car with an internal combustion engine [4]
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The EU aims to achieve a 90% reduction in greenhouse gas emissions from transport by 2050, compared with 1990 [4] but the CO2 by domestic transport increase (while other decrease) [4]
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In the EU, significantly reducing CO2 emissions from transport will not be easy, as the rate of emission reductions has slowed. Current projections put the decrease in transport emissions by 2050 at only 22%, far behind current ambitions. [4]
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In the EU, Road transport contributes to 70% of CO2 of transport, in which, cars contribute 60% of that 70% [4]
Source
Climate Impact Projection of BonbonCar
| Year | Fleet Size (cars) | CO2 Reduced - Low (tons/year) | CO2 Reduced - High (tons/year) | Percentage of Global Emission - Low (%) | Percentage of Global Emission - High (%) |
|---|---|---|---|---|---|
| 2024 | 1,000 | 600 | 1,500 | 0.000016% | 0.000041% |
| 2025 | 10,000 | 6,000 | 15,000 | 0.000162% | 0.000405% |
| 2030 | 500,000 | 300,000 | 750,000 | 0.008108% | 0.020270% |
| 2035 | 1,000,000 | 600,000 | 1,500,000 | 0.016216% | 0.040541% |
| 2040 | 5,000,000 | 3,000,000 | 7,500,000 | 0.081081% | 0.202703% |
| 2050 | 10,000,000 | 6,000,000 | 15,000,000 | 0.162162% | 0.405405% |