- General
- November 19, 2020
- 6 minutes read
GM Unveils Bigger EV Plan
American automaker General Motors has unveiled an upgraded plan for its spending on electric and autonomous vehicles, a plan whereby…
American automaker General Motors has unveiled an upgraded plan for its spending on electric and autonomous vehicles, a plan whereby it’s committed to spend $27 billion on both technologies from now through 2025, representing a $7 billion top-up from its previous commitment of $20 billion for that period.
GM touts wanting “to be part of the solution [to climate change] by putting everyone in an electric vehicle”.
Under its upgraded plan, GM plans to have launched 30 electric vehicles globally by 2025. With engineering advances from when it unveiled its previous plan, the automaker now plans to offer electric vehicles with a range of up to 450 miles compared to its previous limit of 400 miles.
GM says that more than half of its capital spending and product development team will now be devoted to electric and electric-autonomous vehicle programs. Notably, the automaker recently unveiled its “Ultium” battery project which is an essential part of its electrification ambition.
GM already has a top-selling electric vehicle which is the Chevy Bolt. The automaker has also unveiled several other electric models that haven’t yet gone into production, a recent one being the GMC Hummer EV.
 |
| GMC Hummer EV. Photo credit: GM |
Already, GM is a major seller of electric vehicles in the US and China but doesn’t record profits from the segment due to ever-increasing investment there with hopes of securing future market share.
“Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle,” GM’s CEO Mary Barra said in a press statement.
“We are transitioning to an all-electric portfolio from a position of strength and we’re focused on growth. We can accelerate our EV plans because we are rapidly building a competitive advantage in batteries, software, vehicle integration, manufacturing and customer experience,” she said.
Photo: GM CEO Mary Barra by World Economic Forum is licensed under CC BY-NC-SA 2.0
