Europe’s largest carmaker by unit sales, Volkswagen, recently announced their newly approved 5-year spending plan that furthers the companies goal to become leaders in electric cars. They plan to spend more than 34 billion Euros on new electric car models and autonomous driving technologies by the end of 2022.
This announcement does not come as a shock to other carmakers within the industry. The decrease of battery costs and increase of electric vehicle demand has swayed global carmakers to change from standard internal combustion engines and move towards the electric-dominated future of transport.
This sudden surge of electric vehicle production from carmakers has not only been induced by efforts to gain corporate sustainability reputations, but because of government crackdowns on engine emissions, declination of battery costs, and heavy promotion of commercial and personal electric vehicle usage.
China as a country has massive engine emissions, therefore has set strict quotas for electric and plug-in hybrid cars that will come into effect in 2019. China has goals of reaching 2 million in New-Energy Vehicle (NEV) sales by 2020, and has signalled their long-term goal is to phase out the production of petrol-engine cars.
Below are just a few future projections made by the biggest car industry players;
Tesla are the most recognised electric vehicle manufacturer, and have created a fleet of models that are pioneers for a sustainable future- but they come at a cost. Tesla recently launched their new Model 3, a mass-market car that is just as efficient as their previous models, and at only a fraction of the cost. Tesla originally planned to build 1,500 of their new model however pushed the target back three months due to a production bottleneck. Resurfacing from this issue, Tesla is confident then will produce up to 5,000 models per week in the first quarter of 2018.
Toyota – one of Japans largest carmakers has stated that by 2050 they want all their fleet to be zero emissions. Toyota has championed their hybrid Prius model and focused its efforts on hydrogen vehicle technology. They are also investing heavily on electric vehicle technologies, including the solid-state battery that has the potential to cut costs of making electric cars. Toyota are racing to commercialise these technology innovations by the first half of 2020.
Triggered by its diesel emissions crisis, VW plans to have rolled out 80 new electric vehicles by 2025 from their owned brands; Skoda, SEAT, and Audi. VW aims to sell 2-3 million of their electric vehicles by 2025, and by 2030 replace all their models with electric versions.
General Motors – an American owned car maker has identified Chinas push for zero emissions as an opportunity to sell their future low-cost electric vehicles to them. G.M plan to launch their family of cost-friendly electric vehicles by 2021 and sell 1 million by 2026, mostly to China. G.M traditionally sells large, gasoline powered trucks to its loyal American customers and has released their Chevrolet Bolt as an electric alternative to their traditional fleet.
The U.S based carmaker Ford have no set any electric vehicle production targets; however, they plan to invest $5 billion into its electric vehicle production and by 2022 will have 13 more electric or hybrid models in their books. They are cutting their spending on internal combustion engine production, however still plans to have a third of their vehicles to have internal combustion engines in 2030 – contrary to the plans of some European governments to eliminate petroleum-fuelled cars altogether by that year.
BMW are the leaders in internal combustion engine producers transitioning to electric engines, releasing their first all-electric car the i3 back in 2013. In September this year, the German car manufacturer announced their goal to achieve mass electric vehicle production with 12 fully electric models by 2025.
These are just a few of the carmakers within the industry that have an opportunity to reduce the amount of vehicle-caused emissions through investing in electric vehicle technologies. Many years ago, the idea of electric vehicles becoming a mass-marketed product was a commodity, now it is the journey towards a sustainable future.