Oct 19, 2021

Automakers are spending billions to produce battery cells for EVs in the U.S.

Posted by in category: futurism

Based on a rolling five-year average of announced investments, AlixPartners expects companies to invest $330 billion in the next five years throughout the EV supply chain globally. About a third of that is expected to be for batteries, largely in the China and Europe, while the U.S. attempts to catch up.

That forecast is up by 65% from an expected $200 billion from 2,018 according to Kumar.

“Electrification is occurring faster than many were thinking even a few years ago,” he said. “The plans OEMs have in place have started to change dramatically.”

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