GM may increase investment in electric vehicles by 30% to 35 billion U.S. dollars to build two more-Auto & Transportation-Hmeonline: Leading B2B Source & Platform Since 2005

GM may increase investment in electric vehicles by 30% to 35 billion U.S. dollars to build two more

2021-06-16

According to people familiar with the matter, General Motors (60.81, 0.02, 0.03%) plans to spend 35 billion U.S. dollars in the field of electric vehicles and autonomous driving in the next five years, 30% higher than the latest forecast, and strive to become a leader in the electric vehicle industry .

As part of this expenditure, the company will build two more battery plants in the United States and promote some electric vehicle investments.

Previously, General Motors President Mark Reuss revealed in an interview last weekend that the company plans to announce plans to build more battery plants in the United States later this week.

GM has announced plans to build two battery plants in the United States in the past two years. The company plans to launch 30 new electric vehicles globally by 2025, and both plants are to support this goal. But if sales increase, the battery output of these two factories will obviously not be able to meet the needs of all factories.

According to people familiar with the matter, General Motors CEO Mary Barra will meet with Democratic leaders of the US Congress on Wednesday to discuss electric vehicles and vehicle emissions.

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