Automakers invested $ 90 billion in electric cars and hybrids

Automakers invested $ 90 billion in electric cars and hybrids

January 17, 2018 0 By autotimesnews

The total investment of the largest manufacturers in the production of hybrids and electric cars was $ 90 billion, reports Reuters. At the same time, the share of such cars in the total number of cars sold is about one percent.

One of the manufacturers, who invested a significant amount in the development of electrocars, was Ford. At the Auto Show in Detroit brand announced that until 2022 will spend on expanding the line of electrified models 11 billion dollars. In just four years, Ford plans to produce 40 plug-in hybrids and electric cars.

Earlier, Mercedes-Benz announced its plans. For the development of ten purely electric models and 40 hybrids, the company intends to spend almost 12 billion dollars.

However, the largest amount of investments – 40 billion dollars – is planned to attract the Volkswagen concern. By 2030, the company is going to convert all its models to electric traction.

Chinese car manufacturers also refuse to produce cars with ICE and switch to the production of environmentally friendly vehicles. So Chongqing Changan Automobile will stop the production of conventional cars by 2025 and will incur $ 15.1 billion into a “new energy” strategy.