GM Plans to Up Spending on EVs, Autonomous Cars by 35 Percent to $27 Billion
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.