GM Plans To Invest $35 Billion In Electrified And Driverless Vehicles By 2025

GM has indicated that its investment in electrified and driverless vehicles would be increased to $35 billion by 2025.

In a news statement, GM chair and CEO Mary Barra stated, “We are investing aggressively in a comprehensive and highly-integrated strategy to ensure that GM leads in all elements of the transformation to a more sustainable future.”

Prior to the outbreak, GM promised a $20 billion investment in electrified and self-driving automobiles.

The investment, according to GM, would help the business expand Ultium battery production in the United States, with plans to establish two additional Ultium battery manufacturing sites by the middle of the decade.

“Among our workers, customers, dealers, suppliers, unions, and investors, as well as policymakers, there is a strong and increasing belief that electric vehicles and self-driving technology are the keys to a cleaner, safer future for all,” Barra said.

The funds will also be used to extend the availability of electric vehicles to customers. Last year, General Motors announced that by 2025, it will have delivered 30 new electric vehicles to the market.

“GM is aiming for annual worldwide EV sales of more than 1 million by 2025, and we’re boosting our investment to expand quicker because we see electrification momentum growing in the United States, as well as consumer demand for our product lineup,” Barra added.