Global carmakers to invest at least $90 bn in EVs; Ford doubles spend

With the world's top automakers poised to introduce dozens of new battery electric models over the next 5 years, executives continue to ask: Who will buy all those vehicles?

Ford Motor’s plan to double its electrified vehicle spending is part of an investment tsunami in batteries and electric cars by global automakers that now totals $90 billion and is still growing, a Reuters analysis shows.

That money is pouring into a tiny sector that amounts to less than 1 per cent of the 90 million vehicles sold each year and where Elon Musk’s Tesla, with sales of only three models totalling just over 100,000 vehicles in 2017, was a dominant player.

With the world’s top automakers poised to introduce dozens of new battery electric and hybrid gasoline-electric models over