TECHNOLOGY
The reality of powering the electric future
Behind all the electric car hype, car makers and the industry are starting to realise the reality, writes Michael Taylor
A move to fully electrified cars will cost customers more than €3-trillion for batteries alone, Volkswagen CEO Herbert Diess has cautioned. China recently announced that it was working on a deadline to end fossil-fuel cars on its roads, while the UK and France have both put a 2040 deadline on a switch to electric or fuel-cell cars. Diess has warned that some car makers could miss China’s target date for ending internal combustion power because of a shortage of batteries and lithium. China, which he believes will lead the world towards electric cars, already has car makers working towards a target of 15% electrification by 2025. "If you think about 15% of electric cars by 2025 [globally], we need between 60 and 100 gigafactories, with an investment for each one of €5bn," Diess says. "Who is putting the money in? How long do they take to build? I think it [battery supply] will be a constraint." On Diess’s figures, moving to 100% battery electric vehicles (BEV) would demand between 400...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.