Automobile Original equipment manufacturers (OEMs) are expected to invest $323 billion by 2070 to decarbonize the transportation sector, with electric vehicle (EV) sales potentially contributing $9.6 trillion to OEM revenues by that period, as per report by Climate and Sustainability Initiatives (CSI). 

The Singapore-headquartered CSI, a global entity dedicated to reducing carbon emissions in Asia and Africa, stated in its report that reaching net zero goals by 2070 necessitates elevating investments from $7 billion over the five years ending in 2025 to $70 billion in the five years leading up to 2070.

“The largest share of investments — amounting to around $263 billion until 2070 — is likely required in the four-wheeler category. Additionally, truck manufacturers are anticipated to invest over $45 billion by 2070 to meet domestic demand,” the report said.
 
The report also estimated that EVs might contribute $9.6 trillion to OEM revenues by 2070, with cars becoming the primary contributor starting in 2030. By 2030, it is projected that electric vehicles will account for 7.5 percent of the overall OEM auto sales income. “After 2030, we expect cars to become the largest revenue contributor, contributing over USD 8 trillion in sales during 2020-2070, accounting for 83 per cent of total EV revenues,” the analysts said.