General Motors Chairman and CEO Mary Barra announced the OEM will increase its spending on electric and autonomous vehicles to $35 billion (USD) by 2025. The move accelerates the company’s investment in the sectors by 75% compared to a March 2020 announcement. “We are investing aggressively in a comprehensive and highly integrated plan to make sure that GM leads in all aspects of the transformation to a more sustainable future,” GM Chair and CEO Mary Barra said in a statement. The increased spending is expected to help GM reach a goal of selling more than 1 million battery electric vehicles by mid-decade and will fund the building of two additional plants for its lithium-ion batteries.

For more: https://www.thedetroitbureau.com/2021/06/gm-bumps-ev-av-investment-plans-to-35b-will-add-two-more-u-s-battery-plants/

© 2022 First XV. All rights reserved.