By 2030, the world’s largest automakers plan to invest nearly $1.2 trillion in electric vehicles, including batteries and raw materials. This is according to a study based on information received from all these organizations.
A year ago, the study claimed that major automakers would increase production of electric vehicles. They said that the amount of investment that will be made in this case, the new figures show that the amount of investment is double.
The world’s biggest automakers plan to produce around 5.5 million electric vehicles by 2030, according to new figures from a Reuters study. This number currently represents more than 50% of the total global vehicle production. The world’s largest automakers have gradually weathered the drought in global car sales in the Covid climate. So why this decision?
It is believed that there are two main reasons car manufacturers are turning to electric vehicles. First, the pollution caused by gasoline-diesel vehicles around the world. Second, the subsequent increase in the price of petroleum products on the world market.
Gasoline-diesel vehicles are responsible for approximately 16% of carbon emissions to the environment. Almost every country in the world has long made commitments to reduce carbon and “greenhouse gas” emissions in order to improve the country’s overall situation. Ecologists and environmental scientists have repeatedly complained that first and third world countries have not taken seriously the commitments made in the Kyoto Protocol in 1992. After the United Nations Conference on climate change (COP25) in 2019, protests to save the environment began. Due to which various countries have demanded to be more aware of pollution.
And in this environment, this decision by the world’s largest car manufacturers is considered “significant”.
On the other hand, the increase in the price of petroleum products has also become a concern for the populations of most countries of the world. Although this concern is relatively less among people in first world countries, it is much higher among people in third world countries like India. This concern has been exacerbated by the rise in world oil prices following the Russian-Ukrainian conflict. Due to the price of gasoline and diesel, many cars were parked in the garage. According to various statistics, there is a reluctance among people to go out on the road with a car even if they have one. The demand for electric cars is gradually increasing in the market. With this in mind, automakers are moving towards increased production of electric cars, according to a panel of experts.
According to Benchmark Mineral Intelligence data, major automakers have also started developing more powerful batteries to attract buyers to electric vehicles. According to statistics, Elon Musk’s “Tesla” company is committed to playing a leading role in this area. This technologically advanced electric vehicle manufacturer has decided to produce 2 crores of electric vehicles by 2030.
Along with this, the German automaker “Volkswagen” has also decided to manufacture more electric vehicles and batteries. According to statistics, the “Toyota Motor Corporation” of Japan plans to invest Rs 7,000 crores in manufacturing electric cars and accessories. ‘Ford’, ‘BMW’ and ‘Mercedes’ have also decided to follow the same path.