GM increases EV investments to $35B through 2025

Mittwoch, 16. Juni 2021 15:24

General Motors Co. announced on Wednesday that it will boost its investments into electric vehicle (EV) and automated vehicle (AV) technologies to $35 billion by the end of 2025.

According to the company, this marks a 75% increase over its prior commitments, as it accelerated plans to construct two new Ultium battery cell factories in the United States, in addition to the two that are already being built. Furthermore, General Motors intends to add additional assembly facilities in the US for EV SUVs and to provide a $5 billion credit scheme to scale up the Cruise's Origin fleet, which was the first company to receive regulatory approval for self-driving vehicles.

GM Chair and Chief Executive Officer Mary Barra commented on the investment: "GM is targeting annual global EV sales of more than 1 million by 2025, and we are increasing our investment to scale faster because we see momentum building in the United States for electrification, along with customer demand for our product portfolio."

Enlaces afines: General Motors Company
Autor:
Breaking the News / OL