GM Boosts EV, AV, Electric Battery Investments 75%

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GM Is Pouring Billions of Extra Dollars into EVs, AVs, Fuel Cells & Battery Plants


           Source: GM Electric Hummer & Self-Driving Cruise

CEO Mary Barra's Electric & Autonomous Road

GM is pouring billions of extra dollars into electric and autonomous vehicles.  The company is increasing spending by 75% or $35 billion by 2025.  CEO Mary Barra's goal is to build and sell 1 million electric vehicles (EVs) by 2025. These developments have just been disclosed. The $35 billion will also be used to build an additional two US battery plants on top of the two previously announced.  CEO Barra said that GM is aggressively investing in a "comprehensive and highly integrated plan to make sure that GM leads in all aspects of the transformation to a more sustainable future".  The investments are across a range of new technologies including EVs, autonomous vehicles (AVs), battery plants and GM's Hydrotec hydrogen fuel-cell system.

GM Will Have All Electric Model Lineup

By 2030, GM expects to have 30 EVs in its showrooms with electric vehicle sales crossing the 1 million milestone in 2025.  GM is committed to being an all electric automaker by 2035. As demand for electrification grows among drivers, GM is increasing production of its new Ultium batteries that it has developed in a JV partnership with South Korea's LG Chem.  Their 1st two battery plants open in Ohio and Tennessee later this year.  Locations for two more Ultium plants have not been announced.  However, these plants will very significantly lift US production of lithium-ion batteries.  Currently, 93 plants in China produce the technology and only 4 in the US.  Expanding that capacity is a key component of President Biden's infrastructure plan.

Autonomous Driving Vehicles (AVs)

GM's Cruise division is accelerating testing of its autonomous vehicle technology.  It's been cleared by California authorities to use fully driverless cars to transport passengers.  And, Cruise is launching an AV ridesharing service in Dubai.  Finally, in Japan, Honda is launching an AV pilot program using Cruise technology.  GM is clearly accelerating its investments in and the development of new forms of electric, zero emissions and autonomous travel technologies.  

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