Electric Cars Have Hit an Inflection Point

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https://www.theatlantic.com/newsletters/archive/2021/09/electric-cars-have-hit-inflection-point/620233/

Source: By Robinson Meyer, The Atlantic. 

Excerpt: One sign EVs are no longer the auto industry’s neglected stepchild? Norway could sell its last gas-powered car as soon as next year. ...Last night, the automaker [Ford] and SK Innovation, a South Korean battery manufacturer, announced that they were spending $11.4 billion to build two new multi-factory centers in Tennessee and Kentucky that are scheduled to begin production in 2025. The facilities, which will hire a combined 11,000 employees, will manufacture lithium-ion vehicle batteries and assemble electric F-series pickup trucks. ...this will be its first plant in Tennessee in six decades. ...and its first new American vehicle-assembly plant in decades. ...GM, Ford, Volkswagen, Toyota, BMW, and the parent company of Fiat-Chrysler have all pledged that by 2030, at least 40 percent of their new cars worldwide will run on a non-gasoline source. ...More remarkably (and importantly), automakers are spending like they actually believe that goal: The auto industry as a whole will pump more than $500 billion into EV investment by 2030. …

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