GM is increasing its investment in electric and autonomous vehicles to $35 billion through...

[Shawn Knight]

What just happened? General Motors has said it will pump even more money into electric and autonomous vehicle research than previously planned. The automaker now expects to pour $35 billion into its EV and AV programs through 2025, a 75 percent increase from the initial $20 billion commitment made in March 2020 in the very early days of the pandemic.

Last November, GM upped its planned investment to $27 billion.

It’s all in an effort to become the market leader in EVs in North America, a global leader in battery and fuel cell tech and the first to safely commercialize self-driving tech at scale.

Specifically, GM will use the money to accelerate plans to build two battery cell manufacturing facilities in the US. They’ve also signed an agreement with Wabtec Corporation to help develop the world’s first battery-powered locomotive.

GM cited a strong public reaction to its new Hummer EV, which enters production this year. Rival Ford has also fielded lots of interest from its recently announced F-150 Lightning.

GM CEO Mary Barra said the company aims to sell more than a million EVs annually by 2025. To help put that number into perspective, Tesla in the first quarter of this year delivered nearly 185,000 vehicles. That’s not an apples to apples comparison, mind you, but it does help to highlight where one market leader currently stands versus where GM hopes to be by the end of 2025.

Permalink to story.

https://www.techspot.com/news/90085-gm-increasing-investment-electric-autonomous-vehicles-35-billion.html

 

[TheBigT42]

I guess that's why they discontinued the popular Volt.

 

[wiyosaya]

Though GM has had a reputation for poor quality in the past, I think it is about time that a major automaker like GM has committed to EVs in a big way. I wonder, though, if this is just because there is a democrat president and whether GM will reverse this decision should the political winds blow in the other direction in a few years.

EDIT: Seems like every time political winds shift, a dirt pile is moved from one side of the whitehouse lawn to the other.

 

[umbala]

For years and years we've been hearing all these auto makers pledge to spend billions upon billions on electric cars. You'd think by now these EVs would be all over the place. Yet there's barely any of them to choose from now. Reminds me of those battery techs they keep announcing that never actually arrive. Sounds to me like they're just trying to grab the headlines.

 

[Underdog]

"You'd think by now these EVs would be all over the place."

That's because the auto makers still haven't addressed the issues of limited range, charging infrastructure, and purchase price................not to mention the difficulty of selling a secondhand one a few years down the line when the battery bank is dying. Anyone can make claims about future sales. As you say, it is just to grab headlines.

 

[kiwigraeme]

"You'd think by now these EVs would be all over the place."

That's because the auto makers still haven't addressed the issues of limited range, charging infrastructure, and purchase price................not to mention the difficulty of selling a secondhand one a few years down the line when the battery bank is dying. Anyone can make claims about future sales. As you say, it is just to grab headlines.

What to run your own business? - start thing of ways to use these battery banks - it's already happening . A battery struggling to power a SUV/pickup is still very powerful ( those vehicles are heavy ) - at least whenyou build your bugout shelter in Montana or Arizona desert - you can use it as a power store from sun( Arizona ) - slow water turbine(Montana )- yeah a business selling them to preppers

 

[Mr Majestyk]

As long as they are spending $33 billion of that on getting quality control up to standards.

 

[scavengerspc]

I guess that's why they discontinued the popular Volt.

The problem with the Volt (besides quality) was a design with no expansion possibilities. As Hybrids gained in popularity, the demand was for more range from the battery and there was no room for bigger ones.

Similar to the Focus, except it was an EV made from an existing gasoline engine car. There was no way to put a bigger battery in one.

 

[Ludak021]

"General Motors Chapter 11 "
35 billion of tax payers money is being invested into lining.

 

[Bobbydpue]

For years and years we've been hearing all these auto makers pledge to spend billions upon billions on electric cars. You'd think by now these EVs would be all over the place. Yet there's barely any of them to choose from now. Reminds me of those battery techs they keep announcing that never actually arrive. Sounds to me like they're just trying to grab the headlines.

The development time for EV's and other cars takes years to go from concept to the showroom floor. It costs billions to develop and build vehicles on a large scale.