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Infrastructure - NOVEMBER 20, 2020

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GM to spend $27b to develop electric cars

by Released

General Motors has plans to invest $27 billion in electric vehicles through 2025, representing 40 percent of GM models sold in the United States.

“Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle,” said Mary Barra, GM CEO. “We are transitioning to an all-electric portfolio from a position of strength, and we’re focused on growth.”

GM previously made a $20 billion commitment to the development of electric and fully autonomous vehicles during the next five years.

At the virtual Barclays Global Automotive Conference, Barra and Doug Parks, GM executive vice president of global product development, purchasing and supply chain, will share key elements of GM’s plan, including:

By 2025, GM will launch 30 EVs around the world, and more than two-thirds will be available in North America. Cadillac, GMC, Chevrolet and Buick will all be represented, with EVs at all price points for work, advent
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