That represents a 75% improve since March, 2020. At that point, GM had mentioned it could spend $20 billion on electric vehicles in that timeframe — an quantity that was later elevated to $27 billion, and has now been elevated once more.
The automaker additionally introduced it can increase manufacturing of battery cells within the US and can pace up plans to construct two new battery vegetation. This is as well as to battery vegetation already below building in Tennessee and Ohio.
“GM is targeting annual global EV sales of more than 1 million by 2025,” GM chairperson and CEO Mary Barra mentioned in an announcement, “and we are increasing our investment to scale faster because we see momentum building in the United States for electrification, along with customer demand for our product portfolio.”
The firm can be working to improve purposes for its hydrogen gas cell know-how, through which hydrogen fuel is used to create electrical energy inside a automobile quite than relying on batteries. GM lately introduced it can provide gas cells to Wabtec Corp., an organization that’s creating a battery-powered locomotive. GM may also provide gas cells to Navistar, which is creating hydrogen-powered vans and Liebherr-Aerospace to be used as auxiliary energy models for passenger jets.