According to the Bloomberg, there will be 50 electric vehicles available on sale by 2022, as a plan of automakers goals of making transportation cleaner.
General Motors, who are a part of this group, have recently indicated a plan of introducing two more EVs within 18 months and selling 20 new all-electric models by 2023. The vacuum cleaner Dyson has announced that he would also like to jump in with its intention to make an electric vehicle and batteries.
One reason for the EV push is government regulations in California that require automakers to make EVs or buy credits from the competition, in addition to China’s EV production mandate. Erich Joachimsthaler, CEO and founder of Vivaldi, a brand strategies firm, told Bloomberg that government regulations and Tesla are forcing the world’s big automakers to make electric vehicles. However, that does not quite work for them. Automakers would have to face major losses because consumers haven’t yet embraced electrification and the costs of battery tech remains high. General Motors, for instance, lose $9,000 for every Chevrolet Bolt EV sold, according to Bloomberg. The U.S.-market Fiat 500e, on the other hand, causes FCA to lose a huge amount of money, $20,000 a pop.
However, prices for lithium-ion batteries, are expected to be knocked down with GM indicating that it now costs $145 per kilowatt hour. The main thing right now is to get that price below $100 per kWh. Bloomberg New Energy Finance expects that battery costs will drop to $109 per kWh in 2025 and $73 per kWh by 2030, which is possible to help electric car sales in taking over those of internal combustion engine vehicles.
After China announced that it will rule out combustion vehicles by 2030, she became the main reason for the continued push toward all-electric vehicles. Marchionne points out in an interview with Bloomberg that legacy automakers could be left behind and that they have to speed up decision making in order to keep up with new players. He also believes that automakers need to be open to whatever technology wins out in the future.
The long list of electric vehicles coming in the next few years includes Audi’s e-Tron Quattro, the Porsche Mission E, an all-electric Mini hatchback and BMW X3 crossover, Mercedes-Benz’s lineup of EQ models, Tesla’s small crossover said to be called the Model Y, and Volvo models made from 2019, all of which will be offered only as hybrids, plug-ins, or EVs.