GM has increased the money it allocates to its combined investment in electric vehicles and autonomous driving from 2020 to 2025 to $ 35 billion. The largest automaker in the United States originally planned to invest $ 20 billion in the company, but decided to give it a boost and up to $ 27 billion at the end of last year. Now like CNBC reports, he devotes even more effort to go electric and driverless.
The company will use this additional investment to accelerate production of its battery and fuel cell technologies. It will build two more battery factories in the United States in addition to the two that are already under construction, most likely in an effort to ensure that it does not encounter a shortage of batteries as it increases its production of electric vehicles. . By having its own battery factories (as Tesla does with its Gigafactories), GM would not be at the mercy of third-party manufacturing partners in the future.
In the past, GM has said it plans to have 30 EVs on the market by the end of 2025 and sell exclusively electric vehicles by 2035. So far, GM has already introduced the Hummer VE and the new one Chevy Bolts. among other models, but we’ll see the company reveal more in the years to come as it continues to electrify its brands’ vehicles – especially as the company has said it will expand those plans with the additional investment. GM has not provided any additional details on its new targets. CFO Paul Jacobson has only said that the automaker “feels[s] good about everything [its] current projects. He added: “We are moving forward aggressively and there is a lot of exciting things to come for us. “
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through any of these links, we may earn an affiliate commission.
