DETROIT—General Motors Corp. recently announced that it will spend $27 billion on all-electric and autonomous vehicles through 2025, an increase of $7 billion, or 35%, from initial plans announced in March. The increased investment will support GM’s plans to release 30 new EVs globally by 2025, including more than 20 just for North America.
GM says that it has moved up the release of 12 electric vehicles, including pickups for its Chevrolet and GMC brands. It is targeting 1 million in global EV sales by 2025.
Tesla last year accounted for roughly three out of every four EVs sold in the U.S. New electric vehicles from GM, Audi, and others in recent years have done little to take away from Tesla’s sales as it releases new products for its growing and loyal fan base, including an electric pickup.