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Car manufacturers massively increase investments in electric cars

Although it took a long time, the German automotive industry’s changeover to electric cars finally seems to be picking up speed. The consulting firm EY reports that companies are currently massively increasing their investments in such factories.

22 Jun. 2019
Photo: Opel (Groupe PSA)

According to the EY study , 8.4 billion euros in investment projects related to the production of e-cars were announced or launched in 2018. This corresponds to an increase of 97% compared to 2017. Companies apparently saved the money in other areas: the total value of other recently announced investments, such as plant expansions or new test sites, fell by 16%. The developments are described by Constantin Gall of EY as a “foretaste of the coming years” – many manufacturers are currently putting all their eggs in one basket, which is a “courageous and expensive bet on the future”.

Opel is no exception: the carmaker recently announced that all Opel model series will have an e-version by 2024. The first will be the battery-powered electric Corsa-e , which is to be delivered to the first customers in the spring of 2020.