- Ford expects to spend $5 billion in 2022 on EVs. In addition, the company plans to inject $50 billion through 2026 into capital expenditures (CAPEX), direct investments, and expenses.
- General Motors (GM) says it will spend $35 billion through 2025 on EVs and battery tech. Meanwhile, GM and LG are using a $2.5 billion DOE loan to build three US battery factories.
- Toyota has announced it will spend 8 Trillion yen (around $70 billion) to reach its goal of reaching 3.5 million BEVs by 2030.
- Over the next five years, Volkswagen is spending around 73 billion euros (around $73 billion) on electrification and digital tech. So far, the legacy automaker is seeing high demand for its BEVs as global deliveries grew 27% in the first half of 2022.
Lastly, other legacy automakers such as Nissan are playing catch up after being one of the first to release an EV, the Nissan Leaf.
