Automakers to invest $90 billion in electric vehicles

Reuters reports that we are witnessing an “investment tsunami in batteries and electric cars by global automakers that now totals $90 billion and is still growing.”

It notes that the world’s top automakers are poised to introduce dozens of new battery electric and hybrid gasoline-electric models over the next five years. Those models currently account for less than 1 percent of the 90 million vehicles sold each year.

Investments in electrified vehicles announced to date include at least $19 billion by automakers in the United States, $21 billion in China and $52 billion in Germany.

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