GM Boosts Investment, Grows Electric Portfolio to Lead in EV Race

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General Motors chairman and CEO Mary Barra revealed that the company will offer 30 all-electric models globally by mid-decade. Forty per cent of the company’s U.S. entries will be battery electric vehicles by the end of 2025. Barra also announced an increase in GM’s financial commitment to EVs and AVs today to US$27 billion through 2025 – up from the US$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,” said Barra. “We are transitioning to an all-electric portfolio from a position of strength and we’re focused on growth. We can accelerate our EV plans because we are rapidly building a competitive advantage in batteries, software, vehicle integration, manufacturing and customer experience.”

At the virtual Barclays Global Automotive Conference, Barra and Doug Parks, GM executive vice president of Global Product Development, Purchasing and Supply Chain, will share key elements of GM’s plan, including:

  • By 2025, GM will launch 30 EVs around the world, and more than two-thirds will be available in North America. Cadillac, GMC, Chevrolet and Buick will all be represented, with EVs at all price points for work, adventure, performance and family use.
  • Engineering advances have increased the previously stated GM-estimated maximum range of Ultium-based vehicles from 400. GM’s Ultium-based EVs, when produced, will be capable of driving ranges up to 450 miles on a full charge1.
  • GM’s versatile Ultium platform provides the building blocks for everything, from mass market to high performance vehicles – all from a single, common cell in most markets and a set of interchangeable propulsion components.
  • More than half of GM’s capital spending and product development team will be devoted to electric and electric-autonomous vehicle programs.
  • GM’s second-generation Ultium chemistry is projected to deliver twice the energy density at less than half the cost of today’s chemistry. GM is already prototype testing this next-generation technology, which is expected to be available mid-decade.