EV - What Are the Initial Costs for Automakers?

The build up of large format battery production is one of the largest movements of CapEx in such a short time, probably in the history of automotive. The announcements on increases in battery capacity to fulfill that transition are massive. If we go back to the whole net zero path, if we're serious about net zero, most of passenger vehicles need to be EV by the end of the decade. That's a pretty incredible target. It would require an even faster scale up.