Russia will invest USD 10.5 billion in electric vehicles

RUSSIA / FSU POLITICS - In Brief 02 Jun 2021 by Alex Teddy
Vedomosti published the news on June 1. The Ministry of Economic Development estimated that the % of electric vehicles (EV) in Russia will increase from 0.05% to 15% in 2030. That would mean 1.5 million EVs and need 20 000 charging stations.The ministry will invest USD 5.5 billion in EVs. USD 1.7 billion will go into hydrogen powered vehicles.In 2022 it is estimated that there will be 29 times more EVs in Russia than in 2020.EVs in Russia are manufactured by Tesla, Porsche, Nissan, Chevrolet. Russia does not make EVs. Ford intends to start an EV factory in the country in 2022. KamAZ is intending to do likewise and has made a prototype EV.In Norway, by contrast, 54% of cars are EVs.

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