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Company so, the alliance intends to make a $11.5 billion investment to develop new powertrains and electric technologies.391 Tesla • The company plans to plan to spend between $2.5 and 3 billion per year for the next two fiscal years at Gigafactories 1, 2 and 3, and in “other infrastructure growth”393 • $2.5 to $3 billion Porsche • Announced in 2018 that it would double its investment in plug-in hybrids and pure EVs to more than 6 billion euros (USD$7.43 billion) by 2022392 • $7.43 billion Toyota Motor Company • Under its Environmental Challenge 2050 strategy, the company has promised to eliminate most—if not all—carbon dioxide emissions in the company’s new vehicles no more than 31 years from now.394 • In April 2018, announced it would be marketing and selling more than 10 electrified models around the world by the end of 2020.395 • In December 2017, announced it plans to sell more than 5.5 million electrified vehicles per year, including 1 million zero-emission vehicles, by 2030396 • Has promised to invest approximately $13 billion in to the development of battery technology through 2030397 • $13 billion Volkswagen AG • Announced it will gradually phase out the internal combustion engine following the release of its next generation of gas and diesel cars in 2026398 • In May 2018, announced it plans to invest $48 billion into an electrification transition by 2030399 • Over 30 new electric models to launch by 2025, which translates to 15 million EVs on the roads400 • Expects to be selling 2-3 million electric cars per year by 2025, representing 20- 25% of the company’s total sales401 • In January 2019, announced plans to invest $800 million to expand an electric vehicle plant in Chattanooga, Tennessee402 • $48.8 billion Volvo • Announced it will aim for 50% of sales to be fully electric by 2025403 • In October 2018, Volvo bought a stake in FreeWire technologies, a California- based EV charging business404 • N/A Total Announced Investments By Selected Automakers $164.5 to $167.6 billion 391 https://www.triplepundit.com/story/2019/reviewing-automakers-sustainability-and-ev-commitments/81991 392 https://www.theverge.com/2018/2/5/16975752/porsche-electric-cars-investment-smart-mobility 393 https://cleantechnica.com/2018/11/08/tesla-plans-to-spend-up-to-3-billion-a-year-on-gigafactories-over-next-24-months/ 394 https://www.triplepundit.com/story/2019/reviewing-automakers-sustainability-and-ev-commitments/81991 395 https://cleantechnica.com/2018/10/29/worlds-10-biggest-automakers-their-ev-plans/ 396 https://newsroom.toyota.co.jp/en/corporate/20353243.html 397 https://cleantechnica.com/2018/10/29/worlds-10-biggest-automakers-their-ev-plans/ 398 ibid 399 https://cleantechnica.com/2018/09/07/how-serious-is-volkswagen-about-electric-revolution/ 400 https://www.autonews.com/article/20181116/OEM05/181119778/vw-s-ev-commitment-is-15-million-vehicles-not-50-million 401 https://cleantechnica.com/2018/10/29/worlds-10-biggest-automakers-their-ev-plans/ 402 https://www.ccn.com/tesla-faces-squeeze-as-volkswagen-invests-800-million-in-us-electric-car-plant 403 https://electrek.co/2018/04/25/volvo-electrification-plan-fully-electric/ 404 https://www.cnbc.com/2018/10/25/volvo-buys-a-stake-in-electric-charging-firm-freewire.html KELLEHER RESEARCH STUDY ON REUSE AND RECYCLING OF BATTERIES EMPLOYED IN ELECTRIC VEHICLES FINAL REPORT SEPTEMBER, 2019 PAGE 196PDF Image | Reuse and Recycling of Batteries Employed in Electric Vehicles
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