$1.2 trillion will be spent on electric vehicles and batteries by 2030

The world’s major automotive manufacturers plan to spend around $1.2 trillion by 2030 on raw materials used in the manufacture of electric vehicles and batteries.

Automotive and battery manufacturers are planning to produce electric vehicles at unprecedented levels, according to Benchmark Mineral Intelligence and manufacturers’ data.

The size of the investment in electric vehicles has not been officially disclosed, but the amount mentioned in the news was calculated based on investment estimates previously published by Reuters and is more than double the amount released a year ago.

If you look at Alphabet, which includes Google and Waymo, to understand the size of the investment, the market value of the company is $1.3 trillion.

According to analysts, automotive manufacturers plan to produce 54 million battery-powered electric vehicles by 2030. This number will correspond to more than 50% of the total vehicle production.


Automotive and battery manufacturers aim to increase their battery production capacity to 5.8 terawatts/hour (TWh) by 2030 for electric vehicle production.

Tesla is the leader in electric vehicle investments. The company CEO outlined his plan to produce 20 million electric vehicles by 2030.

It is thought that 3 terawatt/hour batteries will be needed for this production.

Volkswagen plans to spend $100 billion to build its global electric vehicle portfolio by 2030, establishing new battery factories in Europe and North America, and thus securing key raw material supplies.

Toyota aims to invest $70 billion to produce electric vehicles and increase battery production, and to sell at least 3.5 million battery-powered electric vehicles by 2030.

Ford continues to increase the budget allocated to new electric vehicles. The company, whose current investment budget is $50 billion, aims to produce approximately 3 million electric vehicles by 2030. This level corresponds to half of Ford’s current production volume.

Mercedes-Benz allocates at least $47 billion for electric vehicle development and production, while BMW, Stellantis and General Motors each plan to spend at least $35 billion on electric vehicles and batteries.

Source: NTV / Translated by Irem Yildiz

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button