$90BIL “Tsunami” Of Global EV Spending

Global carmakers to invest at least $90 billion in electric vehicles

Paul Lienert (w/Joseph White, David Shepardson, Norihiko Shirouzu, Nick Carey, Laurence Frost, Alexandria Sage, Andreas Cremer, and Matthew Lewis), January 15, 2018 (Reuters)

“Ford Motor Co’s plan to double its electrified vehicle spending is part of an investment tsunami in batteries and electric cars by global automakers that now totals $90 billion and is still growing…That money is pouring in to a tiny sector that amounts to less than 1 percent of the 90 million vehicles sold each year…With the world’s top automakers poised to introduce dozens of new battery electric and hybrid gasoline-electric models over the next five years - many of them in China - executives continue to ask: Who will buy all those vehicles? …[Experts say Tesla faces real competition as the sector prepares to provide 15% to 20% of 2030] new vehicle sales in the United States…Investments in electrified vehicles announced to date include at least $19 billion by automakers in the United States, $21 billion in China and $52 billion in Germany…The largest single investment is coming from Volkswagen AG (VOWG_p.DE), which plans to spend $40 billion by 2030 to build electrified versions of its 300-plus global models…” click here for more

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