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, including Tesla /zigman2/quotes/203558040/composite TSLA +12.66% , 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, a brand known for its luxury cars and owned by Germany’s Volkswagen AG /zigman2/quotes/206919008/delayed XE:VOW +2.01% , has promised to have battery-electric vehicles comprise 35% of its sales by 2025. By that time, Audi buyers will choose from about 20 EV models.
BMW AG /zigman2/quotes/202432319/delayed XE:BMW +2.16% , a luxury-car maker from Germany, was among the first EV innovators. It launched its i3 compact EV eight years ago, then as one of the few serious competitors to Tesla Inc.’s vehicles.
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.
Mercedes-Benz, owned by Daimler AG /zigman2/quotes/201850364/delayed XE:DAI +0.95% , expects that between 15% and 25% of its sales will be comprised of EV sales by 2025; by 2030, that percentage is expected to grow to 50%. Mercedes-Benz is slated to end 2021 offering three new electric passenger car models and more to come in 2022.
Ford Motor Co. /zigman2/quotes/208911460/composite F -1.72% has said that 40% of its global sales by 2030 will be sales of EVs . Ford is aiming to have dozens of electrified models by 2022, the year that will also mark the debut of its much-awaited all-electric F-150 Lightning pickup truck.
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.
On Sept. 27, the company announced another $11.4 billion investment to build three battery factories and one electric pickup truck plant in the U.S. with a South Korea supplier.
General Motors Co. /zigman2/quotes/205226835/composite GM -0.02% surprised Wall Street in January by saying it aims to phase out all of its internal combustion engine vehicles by 2035 and only sell zero-emission vehicles by then. The auto maker also promises to be carbon-neutral by 2040.
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.