OEs to put big money towards EVs, batteries

Image credit: Depositphotos.comThe world’s top automakers are preparing to spend more than a trillion dollars by the end of the decade on developing and producing electric vehicles, batteries and the raw materials to support production.According to Reuters, which analyzed public data and projections released by carmakers, the investment of $1.2 trillion (all figures in U.S. dollars) is more than double its most recent calculation from just a year ago.The companies plan to build 54 million battery electric vehicles in 2030, making up more than half of the total vehicle parc, Reuters found.With so many EVs, Reuters cited data from Benchmark Mineral Intelligence and manufacturers that showed automakers and their battery partners are planning to install 5.8 terawatt-hours of battery production capacity by 2030.Tesla plans to build 20 million EVs in 2030 — it hopes to sell 1.5…

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