GM to bring 30 new electric vehicles to market in next 5 years
By Jamie L. Lareau, Detroit Free Press
Tribune Content Agency|
Nov 20, 2020 at 12:22 PM
DETROIT — General Motors is expanding the number of electric vehicles it will bring to market by 2025.
At the Barclays Global Automotive Conference on Thursday, GM CEO Mary Barra said the automaker will bring to market 30 all-electric models globally by mid-decade.
GM had previously said it would bring 20 electric models to market by 2023.
Barra said 40% of the vehicles GM will offer in the United States will be battery electric vehicles by the end of 2025.
“This is how we will win. We are pivoting to a growth strategy and a zero emissions future from a position of strength,” Barra said. She added GM’s goal is to be the top seller of electric vehicles, saying the EVs will be profitable and increase shareholder value.
GM has also created a new organization called EV Growth Operations, which is focused on the EV business and driving customer adoption, Barra said.
Barra also said GM will boost its financial investment in developing EVs and self-driving cars. GM will invest $27 billion through 2025, up from the $20 billion planned before the onset of the COVID-19 pandemic.
“Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle,” Barra said in a statement. “We can accelerate our EV plans because we are rapidly building a competitive advantage in batteries, software, vehicle integration, manufacturing and customer experience.”
One of the first all-electric vehicles GM will bring to market is the GMC Hummer all-electric pickup, due late next year. It will be assembled at Factory ZERO in Detroit and Hamtramck, which GM has invested $2.2 billion to retool to make all electric vehicles in the future.
Because GM has made advancements in virtual technology, it is moving faster in EV development, Barra said. GM has been able to cut its product development time in half and it will pull forward the launch of many EVs, she said.