To put the figure in context, Alphabet (GOOGL.O), the parent company of Google and Waymo, has a market cap of $1.3 trillion.
Automakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production, according to the analysis.
To support that unprecedented level of EVs, carmakers and their battery partners are planning to install 5.8 terawatt-hours of battery production capacity by 2030, according to data from Benchmark Mineral Intelligence and the manufacturers.
Japan's Toyota Motor Corp (7203.T) is investing $70 billion to electrify vehicles and produce more batteries, and expects to sell at least 3.5 million battery electric models (BEVs) in 2030.
It plans at least 30 different BEVs and expects to transition the entire Lexus range to battery electric over that span.