Chasing Tesla: Here are the current electric vehicle plans of every major car maker
At President Joe Biden’s urging, the auto industry pledged to boost production of electric vehicles to the point that they account for about half of total U.S. sales by 2030, a plan that raises hopes that EVs can shift from niche to normal.
EVs accounted for 2.4% of U.S. cars sold in 2020, up from 0.7% five years ago, according to BloombergNEF. The research provider expects that share to increase to 11% in 2025; by 2030, it expects that slightly over a third of vehicles sold in the U.S. will be electric.
Several auto makers had already announced bigger EV ambitions even before the White House call.
Here are each major car maker’s stated plans for EVs, including, when available, investment amounts and the range of models they hope to bring to market.
This information was collated from company sites, previous reports, and BloombergNEF projections, and will be updated regularly.
Audi
Audi, a brand known for its luxury cars and owned by Germany’s Volkswagen AG VOW,
BMW
BMW AG BMW,
BMW’s EV pipeline has slowed, but the auto maker has promised that 25% of its European sales will be all-electric and hybrid vehicles this year, and that all sales of its Mini brand will be battery electric by 2030. It expects to launch more than 10 battery EVs models in the next couple of years.
Daimler/Mercedes-Benz
Mercedes-Benz, owned by Daimler AG DAI,
Ford
Ford Motor Co. F,
Ford has called the Lightning the “pillar” of its more than $22 billion bet on EVs, which includes EV models for other best-selling vehicles such as the Mustang and its Transit van.
GM
General Motors Co. GM,
GM has said that it will offer 30 all-electric models globally by mid-decade, and that 40% percent of the company’s U.S. models will be battery electric vehicles by the end of 2025. Its Hummer electric is expected for next year, with production starting this fall.
Honda
The Japanese maker HMC,
Hyundai
The Korean car maker 005380,
Mazda
Mazda plans to offer 5% of its vehicles as battery electric by 2030, but EV sales targets as a percentage of total sales are unknown at the moment. Mazda does not offer EVs in the U.S., but sells a few EV and hybrid models elsewhere.
Nissan
Nissan Motor Co. Ltd. 7201,
Nissan plans to offer 20 EV models in China by next year, and for the U.S. the company recently said it plans that more than 40% of its U.S. vehicle sales by 2030 will be fully electric.
Porsche
The car maker and almost synonym of sports cars is aiming to have half of its sales be of EV vehicles by 2025.
Stellantis
Stellantis NV STLA,
By that year, Stellantis is expected to derive 31% of its U.S. sales and 38% of its European sales from EVs, percentages that are seen growing to 35% of U.S. sales and 70% of European sales by 2030.
Subaru
The Japanese maker is expected to derive 40% of its sales from EVs and hybrid electric vehicles by 2030.
Toyota
Some 70% of sales for the world’s No. 1 car maker TM,
Volkswagen
The car maker is expected to derive 70% of its European sales from EVs and 50% of its U.S. sales from EVs by 2030. Volkswagen has pledged to spend about $40 billion through 2025 on EVs.