GM to Invest $27 Billion in 'All-Electric' Future
General Motors (GM) says it will offer 30 all-electric models globally by mid-decade, with 40% of its U.S. models going all-electric by the end of 2025, as part of a recently announced plan to "become carbon neutral" by the year 2040.
In addition to its carbon goals, GM says it is working with the Environmental Defense Fund (EDF) "to develop a shared vision of an all-electric future and an aspiration to eliminate tailpipe emissions from new light-duty vehicles by 2035.
"GM’s focus will be offering zero-emissions vehicles across a range of price points and working with all stakeholders, including EDF, to build out the necessary charging infrastructure and promote consumer acceptance, while maintaining high-quality jobs, which will all be needed to meet these ambitious goals."
Specifically, GM is investing $27 billion in electric and autonomous vehicles over the next five years, up from the $20 billion planned before the onset of the COVID-19 pandemic.
This investment includes the continued development of GM’s Ultium battery technology; updating facilities such as Factory ZERO in Michigan and Spring Hill Manufacturing in Tennessee to build electric vehicles from globally sourced parts; and investing in new sites like Ultium Cells LLC in Ohio.
"More than half of GM’s capital spending and product development team will be devoted to electric and electric-autonomous vehicle programs," say company officials.
"And in the coming years, GM plans to offer an EV for every customer, from crossovers and SUVs to trucks and sedans," while continuing to boost the fuel efficiency of its internal combustion engines.
To address emissions from its own operations, GM will source "100% renewable energy to power its U.S. sites by 2030 and global sites by 2035, which represents a five-year acceleration of the company’s previously announced global goal."
The auto manufacturer also will implement plans to "reduce the impact associated with its supply chain, while supporting grids and utilities to power electric vehicles with renewable energy.
"GM has worked with some of its largest suppliers to create a sustainability council to share best practices, learn from each other and create new standards for the industry. In addition to the council’s work, GM is collaborating with suppliers to set ambitious targets for the supply chain to reduce emissions, increase transparency and source more sustainable materials."