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General Motors expands its Electric Vehicle investments and plans to build more battery manufacturing capacity

General Motors expands its Electric Vehicle investments and plans to build more battery manufacturing capacity
The Siliconreview
21 June, 2021

General Motors, an American multinational corporation has stated that it will increase its EV investments to $35 billion through 2025.The automaker made an initial commitment in March 2020 to invest $20 billion including capital, engineering expenses, and other development costs. GM said that it plans to become carbon neutral by 2040. The company worked with the Environmental Defense Fund to develop a vision of an all-electric future.

GM has also outlined plans to transition to electric vehicles or other zero-emissionse vehicle technologis The automaker said at the time that it believed that the energy sector was well on its way to a decarbonized grid and that an all-electric future would be supported by renewable infrastructure and technology.

GM has also confirmed that it plans to launch its third-generation HYDROTEC fuel cells with greater power density and lower costs by mid-decadewith two-thirds available in North America. The company also said it would deliver 30 new EV models by 2025 globally. In addition, GM will add U.S. assembly capacity for EV SUVs, and the details will be available soon.