GM Aims for More Competitiveness in EV and AV after a Further $35B Investment

GM Aims for More Competitiveness in EV and AV after a Further $35B Investment

(General Motors) General Motors Co. has said it will raise its EV and AV investments by 75%, or $35 billion up to 2025.

GM aims to become a market leader in the North American EV industry and lead globally in battery and fuel cell technology.

The increase in allocation follows another $20 billion announced in March 2020 to enhance the company’s transition to EVs and AVs between 2020 and 2025.

GM also increased investments in EVs and AVs between 2020-2025 to $27 billion in November 2020.

Strong demand for automobiles is expected to push GM to its projected first half EBIT of between $8.5-$9.5 billion.

GM: NYSE is up +2.40%.

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