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Electrifying Investments
Carmakers plan to invest more than $140 billion over five years on battery-powered vehicles
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Nine of the largest carmakers plan to spend more than $140 billion over five years on vehicle electrification alone, according to Bloomberg NEF. That compares with their overall investment of $109 billion last year. Most are focusing on China, where domestic manufacturers are accelerating their efforts to meet sales quotas and build brands in a growing market.