General Motors Expects To Produce Only Electric Cars Within 15 Years

2021-01-28   |   by CusiGO

General motors, the auto group with brands such as Chevrolet, Cadillac, Buick and GMC, today announced its goal of producing only electric vehicles by 2035, which has impacted the energy transformation. As a result, the Detroit group is pushing forward its transformation strategy to compete with the California brand Tesla and large automotive industry groups.

The company’s first step will be to invest 22.3 billion euros (27 billion dollars) to provide 30 all electric vehicles by the middle of this century, accounting for 40% of the U.S. product catalog. This investment is 7 billion euros higher than the pre pandemic plan, which is also a step in the direction of transforming GM into a carbon free group in 2040, five years ahead of the plan so far, thanks to investment in renewable energy power generation.

“We encourage others to follow suit and have a significant impact on our industry and the economy as a whole,” said Mary Barra, chairman and chief executive of general motors. Like other groups, the challenge is to reduce the price of low-end electric vehicles to democratize their sales, a process that has so far been severely constrained by the impact of battery prices.

Barra’s Roadmap includes batteries, but does not rule out potential bets on hydrogen fuel cells, which is the next step the industry is considering in developing a “zero emission” vehicle supply plan.

GM also wants to work hard to make sure that the energy used by EV charging points comes from solar and wind power plants. It also promised to promote the construction of 2700 rapid loaders by 2025.

According to a report by Bloomberg, General Motors’ bets put it in the lead in the battle against Tesla because it pushed ahead with plans put forward by its historic rival Ford. Tesla announced on Thursday its first annual profit of $600 million.