$515 Billion for EVs, Batteries Much much nickel required please take a number !!!
Germany's VW Group, which is still recovering financially from the 2016 Dieselgate emissions cheating scandal, continues to lead the rest of the industry, with more than $110 billion in EV and battery investment commitments through 2030. Those commitments, which represent more than 20% of the industry total, underpin VW's aggressive rollout plans for millions of EVs in Europe, China and North America over the next decade.
VW's investments, like those of many of its rivals, are aimed at improving the range and performance of batteries and lowering the cost of EVs, as well as expanding battery and EV production across the globe, according to public data released by the companies.
VW and fellow German automakers Daimler AG and BMW AG are planning to spend a combined $185 billion through 2030, while U.S. automakers GM and Ford expect to spend nearly $60 billion through 2025.
Chinese automakers, led by VW and GM local partner SAIC Motor, have announced well over $100 billion in investment targets over the next decade. Japanese automakers lag far behind, with Honda Motor, Toyota Motor and Nissan Motor so far publicly committing less than $40 billion combined.
These investments do not include the tens of billions of dollars being invested in additional production capacity by the world's largest battery companies, many in cooperation with their automaker partners.