General Motors to invest $ 27 billion for electric cars

It plans to launch 30 battery-powered models around the world by 2025. Photo: AFP

The General Motors Company announced that will invest 27 billion dollars for the development of batteries and technology autonomous with the aim that 40% of their cars are electric.

According to CEO and President Mary Barra, the Detroit-based company’s aggressive strategic shift includes become the North American market share leader in technology over the next few years.

“We believe that the development of electric vehicles is essential to grow our business and create value for shareholders.”

Mary Barra, CEO of General Motors.

America’s largest automaker plans to launch 30 battery-powered models worldwide by 2025, two-thirds of which will be available to North American customers of its Cadillac, GMC, Chevrolet and Buick brands.

The first new model to get the lowest cost Ultium battery pack from General Motors is the GMC Hummer EV due out in late 2021, followed by the Cadillac LYRIQ crossover coming in early 2022.

GM’s investment also increase battery production and review existing facilities to switch to make cars and battery-powered trucks, while better utilizing its extensive global network of R&D laboratories and test facilities for this new generation of vehicles.

An additional $ 7 billion will be added for electric vehicles

In the past decade, the company has steadily increased its presence in the electricity market, starting with the plug-in hybrid Volt and the Bolt EVBut it kept its focus on making money on coal-fired trucks and SUVs.

Our work to accelerate our leadership in technology and electric vehicles is an important company, but we know that we control everything necessary to lead and win, “said Barra, adding that”we will invest an additional 7 billion in electric vehicles until 2025, which brings our total investment in electric vehicles and (autonomous vehicles) to more than 27 billion ”.

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