How much will the global automotive industry cost the transition to electricity by 2030?

How much will the global automotive industry cost the transition to electricity by 2030?

FineAuto

Over the next nine years, automakers around the world will invest $ 515 billion in the development of electric vehicles, according to Reuters analysts. Just three years ago, a similar forecast was about 300 billion, but the planned prohibitions of internal combustion engines and the shift of the market towards “battery” cars have made their own adjustments. Many countries plan to end sales of new gasoline and diesel cars by 2030, while the US plans to increase the market share of electric vehicles to 50 percent over the same period

The Volkswagen Group, which is still recovering from the 2015 diesel scandal, will become the leader in terms of the amount of invested funds. The concern is investing $ 110 billion in electric cars and batteries – 20 percent of the total – as part of a plan to sell millions of electric trains in Europe, China and North America.

Other German manufacturers, BMW and Daimler, will jointly invest 75 billion dollars, and American General Motors and Ford are going to spend about 60 billion more.

Among Chinese companies, the largest investment of $ 100 billion is planned for SAIC, a partner of Volkswagen and General Motors. Japanese brands are lagging behind the trend: Honda, Toyota and Nissan together will spend less than $ 40 billion.

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