|November 17, 2017 / 12:07 PM / a day ago|
Factbox: Automakers get serious about electric cars
6 Min Read
(Reuters) - Volkswagen’s ( VOWG_p.DE) leaders on Friday approved a five-year spending plan that aims to further the German carmaker’s goal of transforming itself into a leading force in electric cars.
A sign is pictured on an electric car charging station at the United Nations in Geneva, Switzerland June 2, 2017. REUTERS/Denis Balibouse
Europe’s largest carmaker by unit sales will spend more than 34 billion euros ($40 billion) on electric cars, autonomous driving and new mobility services by the end of 2022.
Several carmakers have unveiled plans to mass produce electric vehicles, spurred on by government crackdowns on engine emissions, falling battery costs and an increasing range of electric cars.
China has set strict quotas for electric and plug-in hybrid cars that come into effect from 2019. It has a target of 2 million so-called new-energy vehicle (NEV) sales by 2020 and has signaled that longer term it will phase out the sale of conventional petrol-engine cars.
Here are carmakers’ plans for a technology that has only played a marginal role until now:
continues at reuters.com
The rest of the article includes a summary of many major US and EU car manufacturers' plans for electric and autonomous vehicles.