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26 January 2018

$90B Greens

$90 Billion dollars invested in what many automotive experts several years ago said would not happen. Reminds me many great thinkers ahead of their time, not listening to the experts and forging ahead anyway. As Mark Stevenson writes, “Countries around the world—especially China, France, the U.K., and Norway—are aiming to phase out the sale of new fossil-fuel vehicles entirely between 2025 and 2040. So it’s in automakers’ best interests to begin planning and investing now in vehicle lineups that will comply with that regulatory environment when it comes. But the amounts of cash that will require are not trivial. In fact, they’re relatively staggering. In total, global automakers have earmarked more than $90 billion to develop plug-in electric vehicles, mostly for the burgeoning electric-car market in China. Reuters collected all the publicly announced investments from automakers to come up with that $90 billion total. Of that amount, $19 billion comes from automakers in the United States, $21 billion in China, and a remarkable $52 billion in Germany”. And the automotive experts like Ford Motor Executive Chairman Bill Ford Jr said at the North American International Auto Show in Detroit. ““We’re all in,” the only question is, will the customers be there with us?” and Daimler AG Chief Executive Dieter Zetsche pondered an even more dire outcome. “We will see whether demand will drive our (electric vehicle) sales or whether we will all be trying to catch the last customer out there,” Zetsche said. “Ultimately, the customer will decide.” And with nearly all in on green transportation, the air getting worse by the day and investments in going green worldwide at an all time high, let’s all decide with our wallets and conscious!

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