In the more than one hundred year history of the automobile, such a rain of money has never been seen: global investments in electric cars and charging infrastructures, from 2020 to today, are increasing by 60/70 percent per year. And this is already a record. But there's more. This increase is frightening because we are talking about abnormal figures given that today we are at 300 billion dollars a year. the data comes from the Energy Transition Investment Trends report, prepared by BloombergNEF and speaks clearly about the “boost” that this new technology is receiving from governments and companies.
At the forefront there are, needless to say, the USA: President Joe Biden has invested 174 billion as part of the 2,000 billion dollar American Jobs Plan, intended to relaunch the economy and employment, just to win the global race of electric vehicles. Plus another $2.8 billion in grants to companies that will build batteries for electric cars in the United States. But the USA is not alone in this “battle”: car manufacturers, banks and obviously other governments are doing the same. The latest “push” comes from Automotive Cells Company (Acc) – the joint venture for the production of batteries for electric cars created by Stellantis, TotalEnergies and Mercedes Benz – which, thanks to bank financing of 4.7 billion dollars will be able to advance gigafactory projects in Europe. This was reported by the Bloomberg agency which talks about negotiations with the banks and expects the announcement of an agreement in the next few days and the fact that Acc will use the money for the factory already built in France, for the sites in Germany and Italy.
All this money has one purpose: to counter China's dominance of electric cars. It is no coincidence that last year Biden signed the executive order on 2030 when all new cars built in the USA must be electric. America, Biden said, will become the “manufacturing center of the world.”
Electric cars, the US president underlined, “are part of the plan towards the ecological transition”. It is a “challenge”, Biden admitted, “but for us to move to a zero-emissions economy is a great opportunity”. We'll see: we can already see many shadows on the horizon, linked to the fact that if Trump were to win the elections, this whole electric strategy will go to waste. Those who hate battery-powered cars will rejoice. But he will be in the company of all the Chinese who at that point will have more competitors in conquering the automotive world.
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