General Motors Co. (NYSE: GM) has pledged that it will increase its EV and AV Investments from 2020 through 2025 to USD 35 Billion, a 75% increase from its initial commitment prior to the pandemic. This commitment is focused on accelerating its strategy to become the market leader in electronic vehicles in North America. “We are investing aggressively in a comprehensive and highly-integrated plan to make sure that GM leads in all aspects of the transformation to a more sustainable future,” said GM Chair and CEO Mary Barra. “GM is targeting annual global EV sales of more than 1 million by 2025, and we are increasing our investment to scale faster because we see momentum building in the United States for electrification, along with customer demand for our product portfolio.”
“There is a strong and growing conviction among our employees, customers, dealers, suppliers, unions and investors, as well as policymakers, that electric vehicles and self-driving technology are the keys to a cleaner, safer world for all,” Barra said.
GM has a vision of a world with zero crashes, zero emissions and zero congestion. In March 2020, GM committed to investing USD 20 Billion from 2020 to 2025 in the EV market.