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Huge Investments in EV market in next 5 to 10 years

A Reuters analysis of 29 global automakers found that they are investing at least $300 billion in electric vehicles, with more than 45 percent of that earmarked for China.

By Paul Lienert and Christine Chan

PUBLISHED JAN. 10, 2019

Global automakers are planning an unprecedented level of spending to develop and procure batteries and electric vehicles over the next five to 10 years, with a significant portion of their budgets targeted at China, according to a Reuters analysis of public data released by those companies.

Automakers’ plans to spend at least $300 billion on EVs are driven largely by environmental concerns and government policy, and supported by rapid technological advances that have improved battery cost, range and charging time. The accelerated rate of industry spending — much of it led by Germany’s Volkswagen — is greater than the economies of Egypt or Chile.

EV INVESTMENT FLOWS BY COUNTRY OF ORIGIN OF AUTOMAKER

In billions of dollars.......

Goto https://graphics.reuters.com/AUTOS-INVESTMENT-ELECTRIC/010081ZB3HD/index.html for complete write up.