Automakers Plan to Double Spending on EVs, Batteries to $1.2 Trillion by 2030, Analysis Reveals

Automakers are planning to double their spending on the development and production of millions of electric vehicles to nearly $1.2 trillion (roughly Rs. Rs. 98.4 lakh crore) through 2030, analysis by Reuters reveals. Manufacturers have forecast plans to build 54 million battery EVs in 2030, representing more than 50 percent of total vehicle production. Tesla has the m…