GM ups EV spending, says 40% of U.S. lineup electric by 2025


DETROIT — General Motors on Thursday said it is upping its spending on autonomous and electric vehicles by 35 percent to $27 billion and that 40 percent of its U.S. lineup will be electric by the end of 2025.

GM said it will move up the scheduled launches of some EVs and introduce at least 30 EVs globally through 2025, including 20 in North America.

“Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle,” CEO Mary Barra said in a 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.”

GM previously said it would spend $20 billion on EVs and autonomous technology by 2025 and have 20 EVs globally by 2023. More than half of the company’s capital and nearly 60 percent of its product development team will be dedicated to EV and AV programs, GM said.

GM also moved up the production timelines for the GMC Hummer EV, three other GMC EVs, four Chevrolet EVs and four Cadillacs. The Lyriq, Cadillac’s first full EV, will launch in the first quarter of 2022, nine months sooner than officials previously said.

It now plans to introduce a Chevy pickup 11 months sooner than planned, a Chevy compact crossover by 21 months and a second electric GMC pickup by 40 months.

Today, GM’s only EV in the U.S. is the Chevy Bolt. It plans to update the Bolt and start selling a crossover version of it next year.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *