General Motors will increase its investments in electric and autonomous vehicles by 30% through 2025, according to a new report.
Reuters reports that the carmaker will spend $ 35 billion on electrified and self-driving models by 2025. General Motors initially announced a $ 20 billion investment in electric and autonomous vehicles through 2025 in March 2020, before the coronavirus pandemic. In November 2020, he announced an increase in these investments to $ 27 billion.
GM’s increased investment in electric and self-driving cars has been reported just weeks after Ford announced it would invest $ 30 billion in electric vehicles by 2030.
As part of its investment, General Motors will build two new battery factories in the United States. Details, including the location of these objects, remain unclear. But they will join two battery factories already under construction through GM’s joint venture with LG Chem. GM is estimated to invest about $ 2 billion in each of the new battery factories.
General Motors intends to offer 30 models of electric vehicles by 2025 and by the same year plans to increase sales of cars for the year to 1 million electric vehicles in the United States and China.
Reuters adds that GM CEO Mary Barra will meet with US House Speaker Nancy Pelosi and other key Democrats this week to discuss electric cars and vehicle emissions. The automaker has backed President Biden’s $ 174 billion bill for electric vehicles and charging as part of an extensive infrastructure plan.
Read also that GM has recalled more than 280,000 sedans and SUVs due to the airbag warning light.