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Exclusive: Automakers to double spending on EVs, batteries to $1.2 trillion by 2030
“Automakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production, according to the analysis.”
“While Tesla has not fully disclosed its spending plans, such exponential growth - a 13-fold increase over the estimated 1.5 million vehicles it hopes to sell this year - will come at a cost of hundreds of billions of dollars,…
Germany's Volkswagen (VOWG_p.DE), while lagging behind Tesla, has ambitious plans through the end of the decade, targeting well over $100 billion to build out its global EV portfolio
Japan's Toyota Motor Corp (7203.T) is investing $70 billion to electrify vehicles and produce more batteries
Ford Motor Co (F.N) keeps boosting its spending level on new EVs - now at $50 billion
Mercedes-Benz (MBGn.DE) has earmarked at least $47 billion for EV development and production
BMW (BMWG.DE), Stellantis (STLA.MI) and General Motors (GM.N) each plan to spend at least $35 billion on EVs and batteries”
https://www.reuters.com/technology/exclusive-automakers-double-spending-evs-batteries-12-trillion-by-2030-2022-10-21/