Automakers are racing to electric cars

With electric vehicle sales on the rise and regulations favoring zero-emissions vehicles, a flurry of new ads has shown how the global auto industry is beginning to make headway as it races to outgrow the age of fossil-fueled cars.

And as part of its €30 billion ($34.7 billion) electricity plan. Stellantis said it has entered into a preliminary agreement with battery maker LG Energy Solution. To produce cells and battery units for North America.

The world’s No. 4 car manufacturer expects that more than 40 percent of its sales in the United States will be electric vehicles by 2030.

This follows a recent announcement that Daimler is acquiring a 33 percent stake in battery cell maker ACC. which was founded in 2020 by Stellantis and TotalEnergies.

Automakers are racing to secure a battery supply as they switch to electricity. With the planning of dozens of new battery factories across Europe and America.

Ford’s plans to switch to electrification in Europe have received a boost. The company said it was investing up to 230 million pounds ($316 million) to retool an engine plant in northern England. This is to produce electric power units for cars instead of the combustion engine transmission.

The No. 2 US automaker said its car lineup in Europe will be all-electric by 2030.

Companies such as Daimler have warned that switching to electrification is leading to fewer jobs at combustion engine plants. So Ford’s announcement is a boost for workers who make fossil-fuel engines at its plant in Hallwood, near Liverpool.

The switch to electrification has also been accompanied by changes in the automotive landscape. A large number of start-ups hope to become the next Tesla company.

Read also: Foxconn showcases electric car prototypes

Adoption of electric cars is accelerating

This caught the attention of Taiwan’s Foxconn. Which has ambitious plans to diversify away from its role in building consumer electronics for Apple and other tech companies.

Foxconn revealed its first three prototypes – an SUV, a sedan and a bus – made by Foxtron. It is a project between Foxconn and Taiwanese automaker Yulon Motor.

She first mentioned her ambitions for electric cars less than two years ago and moved relatively quickly. And this year it announced deals to build cars with US startup Fisker and Thai energy group PTT Pcl.

The need for speed was also the reason why Volkswagen asked the CEO of Tesla to give a speech via video call. In front of top executives of the German automaker.

and why lighten up Herbert Diess, CEO of Volkswagen, outlined his ambitions to chase and overtake Tesla, the world’s leading electric car maker.

But in a LinkedIn post. Des said he invited Elon Musk as a surprise guest. This is to ensure that Volkswagen needs faster decisions and less bureaucracy for what he described as the biggest transformation in the company’s history.

Read also: Tesla moves its headquarters to Texas