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Global carmakers and the big EV switch

World over, carmakers are shifting gears towards electric vehicles and ecosystems, with some planning to go all-electric in a few years

By Ruchika Shah
Feb 15, 2018, 16:51 IST1 min
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General MotorsFord plans to introduce 24 hybrid cars and 16 all-electric cars by 2022, and has a $11 billion investment plan. Early in 2017, General Motors announced it will go all-electric with 20 EVs by 2023. Its Chevrolet Volt, launched in 2010, was the first mass produced plug-in hybrid.
Image by Forbes
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TeslaTesla, the California-based company, that manufactures the S, 3, X and Roadster models, is setting up a factory, the Gigafactory, in Nevada to make batteries. Its network of superchargers has 1,130 charging stations with 8,496 chargers in Asia, North America, Europe and the Middle East.Instead of targeting longer range, Honda is researching how far it can go on 15 minutes of battery charge. The target is 150 miles on 15 minutes of charge by 2020.
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ChinaSeven Chinese carmakers—the Warren Buffett-backed BYD, SAIC, FAW Group, Geely (owners of Volvo), Great Wall Motors, BAIC and Dongfeng—are formidable players in the EV market. FAW, China’s oldest carmaker, is one of the country’s ‘big four’ BAIC is Daimler’s Chinese partner, while Dongfeng has an alliance with Renault-Nissan BYD is the world’s largest EV maker.China’s biggest electric carmaker Beijing Electric Vehicle Co—valued at $4.5 billion, and with 1.03 lakh EVs sold last year—is on its way to become the first state-backed new energy carmaker to get listed on a mainland stock exchange.
Image by Forbes

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