The World’s Top 5 Automakers and their EV plans

The global automotive market is pushing for electric mobility at record rates. In a world there are literally hundreds of start-up automotive firms promoting electric mobility solutions, the electric plans of the world’s top 5 automakers deserve special focus.

The automobile, since its inception in 1885 by German engineer Carl Benz, has certainly taken the globe by storm. No other invention has had the kind of impact on humanity and our environment in such a short period.

After entering commercial markets in the first half of the decade, electric car sales have soared. By the end of the year 2021, the EV sector had set a record milestone. The year ended with an annual EV sale of a whopping 6.6 million, almost doubling from the year earlier.

So just what are the global top 5 automakers up to on the EV front?

#1 Volkswagen Group

Revenue (2021): $289.16 billion

Total Vehicles sold (2021)– 9.3 million

PHEV/BEV sold (2021)– 452k

Date for Carbon Neutrality: 2050

VW Group is the global leader in the automobile market. The German heavyweight designs and manufactures passenger vehicles, trucks, and LCVs including buses. In the electric vehicle segment, the group nearly doubled its BEV deliveries year-on-year to 452,900 units, which represents a 5.1 percent share of the German conglomerate’s total deliveries last year. VW Group comprises ten brands from five European countries: Volkswagen, Volkswagen Commercial Vehicles, ŠKODA, SEAT, CUPRA, Audi, Lamborghini, Bentley, Porsche, and Ducati

Future EV goals – Volkswagen leads the world with its investment plans for EVs and batteries through 2030. It has plans to spend 35 billion euros on battery EVs by 2025. Notably, in the year 2018, Volkswagen set a goal of totally phasing out combustion engine vehicles by 2026. Volkswagen expects its network of fast-chargers to nearly quadruple to about 45,000 by 2025 as it aims to emerge the global EV market leader by then.

#2 Toyota Motor Corporation

Revenue (2021): $270.18 billion

Total Vehicles sold (2021)– 10.5 million

PHEV sold (2021)– 2.5 million

Date for Carbon Neutrality: 2050

Japanese automaker Toyota manufactures a variety of mobility options – car, truck, mini-van, and a range of commercial vehicles. It has subsidiaries – Daihatsu Motor Co., Ltd., and Hino Motors, Ltd. The company delivered a total of 10,495,548 vehicles globally last year, comfortably beating Volkswagen Group with its 9,305,000 sales from all brands. Toyota was an early pioneer in electrification, but the company has fallen far behind its competitors. Yet, Toyota is the market leader among hybrids. Its Prius line was the world’s best-selling hybrid as of 2020. Moreover, the firm has set a goal of being carbon neutral by 2050.

Future EV goals – Toyota has goals to release 70 electrified models (including hybrids) by 2025. Further, the Japanese carmaker staked over $17 billion to roll out 30 pure EVs by 2030. In addition, Toyota vowed to sell 3.5 million battery EVs globally by 2030. This includes transforming Lexus into an EV-only brand by 2035. The company has plans of a 2 trillion-yen ($17.6 billion) investment in battery vehicle technology. Unlike other car majors, Toyota is yet to release a long-range electric vehicle. Though, another Japanese automaker Subaru is working with Toyota on its first EV ever: the Solterra, due out in 2022.

#3 Daimler AG/Mercedes-Benz Group AG

Revenue (2021):$187 billion

Total Vehicle sold (2021)– 2.4 million

PHEV/BEV sold (2021)– 227,458

Date for Carbon Neutrality: 2039

The German group of companies manufactures passenger cars, vans, off-road vehicles, and commercial vehicles, such as transport trucks and buses. The automaker provides vehicles for a variety of brands – Daimler, Mercedes-Benz, FUSO, Western Star, smart, and others. With its upmarket positioning, a Daimler pivot to EV’s by 2030 means the firm believes battery prices will come down faster, as that is the only way it can maintain its margins and prices.

Future EV goals – In July 2021, the company sped up its earlier plans as Mercedes now aims to sell only electric vehicles by 2030. Previously, the company said that it would produce the last gasoline-powered cars around 2040. By 2022, Mercedes-Benz will have battery electric vehicles (BEV) in all segments the company serves. It plans investments of about $47 billion between 2022 and 2030 in EV.

#4 Ford Motor

Revenue (2021): $134.61 billion

Total Vehicle sold (2021)– 3.9 million

BEV sold (2021)– 27k (in the US only)

Date for Carbon Neutrality: 2050

American auto-major Ford delivers and services cars, SUVs, vans, and trucks. The business also offers vehicle finance and leasing. In 2021, the Ford Motor Company sold about 3.9 million vehicles to dealers and distributors worldwide. Evidently, Ford boosted its EV segment only in 2021; it was negligible before that. It sold just about 27,000 electric vehicles in fiscal 2021, or the period that ended on Dec 31, 2021.

Future EV goals – The firm discarded any spin-off of the electric business. The U.S. automaker said last month it will have the annual capacity to build 600,000 EVs globally within 24 months. Earlier, Ford planned $22 billion for EVs through 2025. Interestingly, it targets 76 percent carbon reduction by 2035.

#5 General Motors

Revenue (2021): $130.93 billion

Total Vehicle sold (2021): 2.2 million

BEV sold (2021)– 24.8k

Date for Carbon Neutrality: 2040

General Motors is an American automaker that includes various major brands – Chevrolet, GMC, Buick, and Cadillac. General Motors Co. and its dealers delivered 2.2 million vehicles in 2021. This represents a 13% drop in sales compared to the previous year. Surprisingly, GM sold only 26 EVs during the fourth quarter of 2021!

Future EV goals – At CES 2021, GM made waves with its announcement. It declared it would stop producing emissions-spewing gas and diesel vehicles by 2035. Instead, the company will expand its electric options.

Recently, GM said it will invest roughly $6.6 billion in its home state of Michigan through 2024. This is intended to increase electric pickup-truck production and build a new EV battery cell plant. The announcement forms part of a plan to increase GM’s North American production capacity to build 1 million electric vehicles, spending $35 billion, by 2025.