Automakers plan to build 54 mln EVs in 2030

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STORY: Source: Reuters analysis

The world’s top automakers are set to spend $1.2 tln through 2030 on EVs, batteries and raw materials

Automakers have forecast plans to build 54 mln battery electric vehicles (BEVs) in 2030

That is more than half of the total cars they plan to produce

The investment figure is more than double last year's calculation and dwarfs previous Reuters estimates

Tesla is leading the charge, with Elon Musk's audacious plan to build 20 mln EVs in 2030

Source: Reuters analysis

That’s a 13-fold increase from what Tesla hopes to sell in 2022 and will cost hundreds of billions of dollars to achieve

Germany's Volkswagen has targeted well over $100 bln to build out its global portfolio

Japan's Toyota is investing $70 bln and expects to sell at least 3.5 mln EVs in 2030

Ford plans to invest $50 bln and is aiming to produce 3 mln BEVs in 2030, or half its total volume

Mercedes Benz has earmarked at least $47 billion for EV development and production

BMW, Stellantis and GM each plan to spend at least $35 billion