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General Motors Announced Yesterday That It Will Increase Investments in Electric and Autonomous Cars by 75% from the Amount Announced Before the Pandemic
General Motors – GM – announced yesterday that it will invest US$ 35 billion, about R$ 175 billion, in electric and autonomous cars by 2025. The amount represents a 75% increase from what was announced before the pandemic. The boost in investments is a strategy by GM to seek leadership in the electric car market in North America. Also see: Ford Joins the Electric Race of General Motors and Volkswagen, Planning to Develop Fully Electric Trucks and Cars by 2025
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Investments in Electric and Autonomous Cars by General Motors
Automaker General Motors expects to deliver results better than expected in the second quarter, despite the impact of semiconductor shortages across the industry. The invested capital aims to accelerate the production of Ultium battery cells in the United States; market Ultium batteries made in the USA and Hydrotec fuel cells; expand and accelerate the launch of electric cars for retail and fleet customers and safely implement autonomous driving technology on a large scale.
GM President and CEO Mary Barra states that General Motors has a global goal of selling more than 1 million electric cars annually by 2025, increasing investments to gain scale faster as they believe this is the right time for electrification in the United States, along with customer demand for their product portfolio.
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The bridge that holds the largest stone railway arch in the world: built over 100 years ago, destroyed in the war, and rebuilt to continue operating to this day, it still carries trains over the Soča River in Slovenia.
Increases in Investments to Be Made by GM
As part of the investments, General Motors announced it will build two additional battery factories in the U.S. by the middle of the decade. The automaker also stated that the details on where these factories will be built will be announced later, but these units will be responsible for more than half of the recent $8 billion increase in investments.
This was the second time the automaker increased its budget for electric vehicles since outlining its goals in early last year. In November, the budget increased from $20 billion to $27 billion.
Also See: General Motors Will Invest R$ 5 Billion and About 600 Jobs May Be Created in São Paulo
General Motors confirmed last Friday (06/11) that it will bring new investments to the factory in São José dos Campos, in São Paulo, in fulfillment of an agreement signed with the Metalworkers’ Union in 2019. The confirmation was made in a meeting between the automaker and the Union, with the expectation that the investments will be completed in 2023. With the investments, new jobs may be created in the state.
According to General Motors, there are prospects for increased production and new hires during this period. This year, 400 workers have already been hired, with the number potentially reaching 600 jobs. In the current scenario, where factories are being closed in the region, the Union sees the confirmation of investments by General Motors as positive news.
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