Maxwell Bernstein | March 26, 2021
As humans change the climate with the production of greenhouse gasses, car companies are shifting to electric vehicles to mitigate climate change disasters. According to the EPA, transportation accounts for about 28% of greenhouse gas emissions. Here are the car companies that plan on investing and working toward electric-vehicle production.
General Motors (GM): American company General Motors plans on having an all-electric lineup by 2035. Their plan for this all-electric lineup has begun with the release of two Chevy Bolt models and an all-electric GMC Hummer EV pickup truck, according to CNBC.
Ford: Ford said that their European cars will be fully electric or plug-in hybrid by mid-2026 and all-electric by 2030. Ford has plans to spend $22 billion in electrification through 2025, according to Reuters.
Volvo: On Tuesday, the Chinese-owned automotive company said they will become a “fully electric car company” by 2030, with the complete removal of internal combustion engines, according to CNBC.
Tata Motors: Located in India, Tata motors who owns Jaguar and Land Rover will have Jaguar going all-electric from 2025 and Land Rover rolling out six electric vehicles over the next year.
Volkswagen: The German company Volkswagen plans on releasing 70 all-electric vehicles by 2030 and plans on investing around $42 billion in battery electric vehicles.
Kia: Located in South Korea, Kia will release 11 electric vehicles by 2026, and the all-electric Kia EV6 by the end of this month, according to Car and Driver.
As of March 18, 2021, shares for Ford Motor Co. were up 42%, GM was up 42%, and VW shares were up 46%. Investors are gaining confidence in these carmakers as they reinvent themselves as producers of electric-vehicles, according to the Wall Street Journal.