General Motors plans to increase its investment in electric and automated-driving vehicles again by 2025, from the last planned $27 billion to $35 billion, according to a media report. Meanwhile, GM offshoot Cruise has unveiled the first nearly 100 pre-production models of its Cruise Origin.
A brief review: In November 2020, General Motors announced its intention to increase its investment in electric and automated vehicles from 20 to 27 billion US dollars by 2025 - garnished with the prospect of 30 purely electric models worldwide and e-car sales of 40 percent by 2025. Now Reuters, citing people privy to the plans, writes that GM intends to add another 8 billion dollars to its investment. Interesting detail: Less than a month ago, US competitor Ford had already made public its intention to increase its e-mobility spending by 8 billion to a good 30 billion dollars by 2030.
Part of GM's additional investment will go towards two more battery factories in the U.S., according to various media outlets. The Associated Press news agency, citing statements from GM President Mark Reuss, reports that plans for these additional battery factories will be officially announced this week. However, according to other sources, the company has not yet decided exactly where the plants will be built.
Together with LG Energy Solution, GM is already building a battery factory in northeast Ohio; Ultium Cells, the joint venture of the two companies, plans to build a second plant in Spring Hill in the U.S. state of Tennessee. The opening of the 2.3 billion dollar factory is planned for 2023. The background to the battery initiative is that GM wants to completely abandon the internal combustion engine by 2035.