Global EV transition goals major car manufacturers

Several major automakers have already said that by 2030, 100% of their new vehicles would be totally electric. By 2040, even more will have reached this milestone. However, several drivers are still revving their engines on the starter's block, risking being passed by the competition.

Published

November 2022

Industry

Electric Vehicles

Author

evmarketsreportscom.acc.teamexpedition.nl

Polestar and Tesla are the only companies now producing only fully electric vehicles, leaving their rivals in the dust. With goals to entirely electrify their fleets to Battery Electric Vehicles (BEVs) between 2030 and 2040, Volvo, Ford, and Volkswagen are leading the pace among conventional automakers.

Volvo has already committed to having all of its fleet BEV by 2030, while Ford has set a goal of having all battery electric vehicles, including vans, on the road by 2035 – in line with the implementation of strict fuel economy rules. Volkswagen, the runner-up, plans to sell only BEVs by 2040; in contrast, Hyundai, Kia, and Mazda have set partial goals for 2030 (36%, 30%, and 25%, respectively). Honda, Nissan, Mitsubishi, Toyota, and Isuzu are lagging behind since they haven’t outlined specific BEV ambitions.

Volvo has announced that, four years before its worldwide promise, it will sell only electric vehicles in Australia starting in 2026. Mazda, Hyundai, and Kia have established objectives for being completely electric between 2030 and 2040, along with partial BEV ambitions, making the middle of the field a tight race.

Honda doesn’t have a BEV target, but it wants to go all electric by 2040. Nissan and Mitsubishi are lagging behind, with no BEV objective and simply a goal to electrify 50% of their fleet by 2030. The final two manufacturers to pledge to making their fleets all electric are Toyota and Isuzu.

Source: Climate council

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