General Motors invests $35 billion in electric and autonomous vehicles

According to the information Reuters obtained from sources close to the company, the US giant decided to increase its previously announced investment of 27 billion dollars by 30 percent.

While automotive giants continue to invest in electric and autonomous vehicle technologies, investments continue to rise as competition in this area increases. According to the information received, General Motors also decided to invest more in electric and autonomous vehicles .

According to the news Reuters based on sources close to the company, General Motors has decided to increase its investment by 30 percent until 2025 . Looking back, we learned that the manufacturer would invest $20 billion in electric and autonomous vehicle technologies for the first time in March 2020, that is, during the pandemic. The company later announced that it had increased this investment to $27 billion.

With the current upgrade news, GM’s investment amount has increased to around 35 billion dollars. Another US automotive giant, Ford, announced in the past weeks that it will invest $30 billion to develop electric and autonomous vehicle technologies by 2030. It was noteworthy that GM increased its investment amount again after this statement.

GM will build two new battery factories in the US as part of its announced investment. Details of the facilities in question, including location information, are not yet known. On the other hand, we know that the company is currently under construction of two battery factories in partnership with LG Chem. These two facilities will also join them in the future. It is stated that GM will invest $2 billion in each of its new battery factories.

GM has a goal of delivering 30 electrified models globally by 2025 . The company wants to become a manufacturer that sells 1 million electric vehicles annually in the USA and China by the same year. 

Write a Comment