Leading Automakers’ Electrification Goal


According to Global EV Outlook 2023 and  International Energy Agency (IEA), many leading automakers are setting ambitious goals for the electrification of their vehicles. One of the main drivers driving the development of electric vehicles (EVs) is the need to reduce greenhouse gas emissions and combat climate change.

Automakers are announcing targets in terms of total sales volumes, sales shares, or a complete transition to all-electric vehicles. These targets often go beyond regulatory requirements and government ambitions, demonstrating the industry's commitment to tackling climate change.

The European market, in particular, has seen some of the most ambitious targets as the newly amended CO2 emission standards would require all new cars and vans to be zero-emission by 2035. However, automakers are also setting targets in other regions, including China and the United States.

Chinese automakers, in particular, have set shorter-term targets that are within reach of current NEV (New Energy Vehicle) market shares. This demonstrates China's commitment to becoming a world leader in EV adoption and production.

Automakers are also investing heavily in electrification and digital technologies, with seven major OEMs collectively spending over USD 55 billion on emerging automotive technologies since 2019, including manufacturing facilities.

Some major automakers that have announced electrification goals include:

Volkswagen (VW): Volkswagen aims to sell 1 million electric vehicles per year by 2025 and has committed to invest 30 billion euros in electric vehicle technology by 2023.

General Motors (GM): GM plans to launch 20 new electric vehicles by 2023, with the goal of an all-electric future.

Ford: Ford has committed to investing $11 billion in electric vehicle technology by 2022 and announced plans to launch 16 pure electric vehicles by 2022.

Nissan: Nissan aims to achieve annual sales of 1 million electric vehicles by 2022, including pure electric vehicles and hybrid vehicles.

5. Tesla: Already a major player in the electric vehicle market, Tesla plans to increase its production of electric vehicles to 1 million vehicles per year by 2020.

6. Hyundai/Kia: Hyundai and its sister company Kia plan to launch 38 green vehicles by 2025, including hybrids, plug-in hybrids, pure electric vehicles and hydrogen fuel cell vehicles. Overall, vehicle electrification is becoming an increasingly important trend in the automotive industry. Governments around the world are also encouraging the transition to EVs through subsidies, tax breaks and other means. It's all about reducing pollution and greenhouse gas emissions, and moving towards a more sustainable future.

Post time: May-08-2023

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