Chasing Tesla: Here are the current electric vehicle plans of every major car maker
At President Joe Biden’s urging, the auto industry pledged to boost production of electric vehicles to the point that they account for about half of total U.S. sales by 2030, a plan that raises hopes that EVs can shift from niche to normal.
EVs, including Tesla TSLA, accounted for 2.4% of U.S. cars sold in 2020, up from 0.7% five years ago, according to BloombergNEF. The research provider expects that share to increase to 11% in 2025; by 2030, it expects that slightly over a third of vehicles sold in the U.S. will be electric.
Several auto makers had already announced bigger EV ambitions even before the White House call.
Here are each major car maker’s stated plans for EVs, including, when available, investment amounts and the range of models they hope to bring to market.
This information was collated from company sites, previous reports, and BloombergNEF projections, and will be updated regularly.
Audi
Audi, a brand known for its luxury cars and owned by Germany’s Volkswagen AG XE:VOW, has promised to have battery-electric vehicles comprise 35% of its sales by 2025. By that time, Audi buyers will choose from about 20 EV models.
BMW
BMW AG XE:BMW, a luxury-car maker from Germany, was among the first EV innovators. It launched its i3 compact EV eight years ago, then as one of the few serious competitors to Tesla Inc.’s vehicles.
BMW’s EV pipeline has slowed, but the auto maker has promised that 25% of its European sales will be all-electric and hybrid vehicles this year, and that all sales of its Mini brand will be battery electric by 2030. It expects to launch more than 10 battery EVs models in the next couple of years.
Daimler/Mercedes-Benz
Mercedes-Benz, owned by Daimler AG XE:DAI, expects that between 15% and 25% of its sales will be comprised of EV sales by 2025; by 2030, that percentage is expected to grow to 50%. Mercedes-Benz is slated to end 2021 offering three new electric passenger car models and more to come in 2022.
Ford
Ford Motor Co. F has said that 40% of its global sales by 2030 will be sales of EVs. Ford is aiming to have dozens of electrified models by 2022, the year that will also mark the debut of its much-awaited all-electric F-150 Lightning pickup truck.
Ford has called the Lightning the “pillar” of its more than $22 billion bet on EVs, which includes EV models for other best-selling vehicles such as the Mustang and its Transit van.
Honda
The Japanese maker HMC, which owns the namesake Honda brand and also the luxury-car brand Acura, is projected to derive 40% of its sales from EVs and fuel-cell electric cars by 2030. In April 2020, Honda and GM announced a partnership to develop Honda electric cars using GM’s Ultium batteries.
Hyundai
The Korean car maker KR:005380, which also owns Kia, is aiming to have 40% of its Kia and Hyundai brands sales to be of EVs and fuel-cell electric vehicles by 2025. Its Hyundai brand plans on more than 30 electric passenger vehicles by then.
Mazda
Mazda plans to offer 5% of its vehicles as battery electric by 2030, but EV sales targets as a percentage of total sales are unknown at the moment. Mazda does not offer EVs in the U.S., but sells a few EV and hybrid models elsewhere.
Nissan
Nissan Motor Co. Ltd. JP:7201 was among the first auto makers to offer an all-electric vehicle, and its the Nissan Leaf for years was one of the few options available for those without the deep pockets needed for a Tesla Inc. TSLA Model S.
Nissan plans to offer 20 EV models in China by next year, and for the U.S. the company recently said it plans that more than 40% of its U.S. vehicle sales by 2030 will be fully electric.
Porsche
The car maker and almost synonym of sports cars is aiming to have half of its sales be of EV vehicles by 2025.
Stellantis
Stellantis NV STLA, the global auto maker formed earlier this year through the merger of Fiat Chrysler Automobiles NV and France’s PSA Group, said in July it was investing $35 billion in EVs and adjacent technologies through 2025.
By that year, Stellantis is expected to derive 31% of its U.S. sales and 38% of its European sales from EVs, percentages that are seen growing to 35% of U.S. sales and 70% of European sales by 2030.
Subaru
The Japanese maker JP:7270 is expected to derive 40% of its sales from EVs and hybrid electric vehicles by 2030.
Toyota
Some 70% of sales for the world’s No. 1 car maker TM are expected to come from EVs and fuel-cell electric vehicles by 2030. Toyota plans to offer 15 battery EV models by 2025. The car maker, of course, broke ground with its hybrid Toyota Prius two decades ago.
Volkswagen
The car maker XE:VOW3 is expected to derive 70% of its European sales from EVs and 50% of its U.S. sales from EVs by 2030. Volkswagen has pledged to spend about $40 billion through 2025 on EVs.
Volvo
Volvo is aiming to derive 50% of its global sales from EVs by 2025, with the rest being hybrid vehicles. By 2030, the company expects to sell only EVs, and to be carbon neutral by 2040.
Source : marketwatch.com
