The global market share of electric cars doubled in 2021, with United States electric vehicle sales reaching over half a million. Despite the supply shortage and the pandemic’s effect on the auto market, the interest in electric vehicle development is only growing.
Here are some manufacturers and their latest commitments to the electric vehicle industry:
- Maserati announced that it would be going fully electric by 2030. The manufacturer also reported that it will be offering battery-electric versions of all its vehicles by 2025.
- Hyundai announced plans to invest $16B and sell almost 2 million electric vehicles by 2030. The manufacturer is also launching 17 new electric models across the Hyundai and Genesis brands.
- Ford announced plans to sell more than 600,000 electric cars by 2026. The manufacturer also announced plans to sell only fully electric vehicles in Europe by 2030.
- Peugeot announced it will be electric-only in Europe by 2030 as well.
- On the other hand, Nissan plans to keep offering full-hybrid models while everyone else commits to going fully electric. The manufacturer plans on offering both electric and hybrid vehicles by 2030.
- Similarly, Toyota plans to go at least 50% electric by 2030 and will increase its offerings depending on customer demand.
- Subaru partnered with Toyota to develop its first all-electric SUV.
- Sony announced in January that it would be launching its own electric vehicle.
GM and Hydro
Some manufacturers have started to look at ways these commitments could impact other sects of the transportation industry. Earlier this year, GM announced plans to launch power generators that would be powered by the manufacturer’s Hydrotec hydrogen fuel cell technology. These chargers can be installed at existing fuel stations and can charge up to four vehicles at the same time, with an estimated target full charge time of 20 minutes. Not only do these generators have the capability to replace gasoline- and diesel-burning generators, they also avoid the need for permanent charge points. These generators could also be used as a backup energy source during blackouts.
According to GM’s executive director of the global Hydrotec business, the company’s vision of an all-electric future is broader than just passenger vehicles and even transportation; the manufacturer plans to explore how this new Hydrotec technology could be used in aerospace, aviation, locomotive and heavy-duty truck industries.
As manufacturers develop big plans for their electric vehicle commitments, some are looking inward, too. In addition to announcing extensive plans to go fully electric by 2030 across Europe, Ford announced its newest initiative, Electric University, which is a program that would train dealers, salespeople and service technicians about all things EV. Not only would this initiative alleviate common pain points when trying to sell an electric vehicle; it also pushes dealers to understand the benefits of investing in EVs and advocate for sales to meet the manufacturers’ lofty goals.
The company will be conducting a multi-day education program near its headquarters to immerse chosen employees into the world of electric vehicles. Details have yet to be disclosed, but the chairman of Ford’s National Dealer Council mentioned that it would include explanations of ownership benefits and the differences in performance capabilities between electric and internal combustion vehicles.
As the electric vehicle industry continues to grow and build, these moves and commitments are opening up conversations in other areas of the industry. From education and training programs to consolidating efforts across all transportation industries, it's interesting to see how the next big thing in the market bleeds into other aspects of the industry and pushes the boundaries of what the market could really look like.