General Motors is increasing its financial commitment to electric vehicles and predicts that 40% of the company’s US entries will be battery electric vehicles by the end of 2025.
Chairman and CEO Mary Barra revealed that the company will offer 30 all-electric models globally by mid-decade. Forty percent of the company’s U.S. entries will be battery electric vehicles by the end of 2025. Barra also announced an increase in GM’s financial commitment to EVs and AVs today to $27 billion through 2025 – up from the $20 billion planned before the onset of the COVID-19 pandemic. “Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle,” said Barra. “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 said in the press release that it plans to launch 30 EVs around the world by 2025, and more than two-thirds will be available in North America. Cadillac, GMC, Chevrolet and Buick will all be represented. More than half of GM’s capital spending and product development team will be devoted to electric and electric-autonomous vehicle programs.