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GM Aims to Oust Rival Car Maker Tesla, Elon Musk’s Company, in Electric Vehicle Sales by 2025 in the U.S., and Competition with Ford Will Heat Up!
The American multinational vehicle manufacturer General Motors takes the electric vehicle competition seriously, and plans to outpace Tesla, the global electric giant led by billionaire Elon Musk, by 2025. The question is… Ford has already planned to manufacture 600,000 vehicles in just two years and the competition to lead electric sales in the global market will intensify among carmakers!
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General Motors announced a billion-dollar investment of $6.6 billion in its electric vehicle division at one of its factories in the state of Michigan, in the United States. According to GM, this is the largest investment ever announced by the automaker for electric vehicle manufacturing.
General Motors Aims to Oust Tesla and Manufacture 1 Million Electric Vehicles by 2025
The billion-dollar investment is part of GM’s strategy to ramp up its production capacity in the United States to 1 million electric vehicles by 2025.
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And it doesn’t stop there: GM also plans another investment of $35 billion by 2035 to take the lead in supplying electric and autonomous vehicles. “We will have the products, battery cell capability, and vehicle assembly capacity to be the leader in EVs (electric vehicles) by the middle of the decade,” said GM CEO Mary Barra in a statement.
All this money is aimed at overtaking the automaker of billionaire Elon Musk. However, surpassing global leader Tesla in electric vehicle sales in the United States by 2025 will be a tough task for GM, according to market analysts. “It won’t be easy to do this in just three years. Although Tesla does not provide a specific breakdown of its American sales, the manufacturer delivered 936,172 electric vehicles globally in 2021.
Ford, Promising to Manufacture 600,000 Cars by 2022, Sold 27,140 Units of Its Mustang Mach-E, and Competition Will Heat Up with GM to Oust the Global Leader in Electric Car Production, Tesla, of Billionaire Elon Musk
According to analysts at Seeking Alpha, an American financial content service, GM sold fewer than 25,000 EVs last year, falling behind Ford, which sold 27,140 units of its Mustang Mach-E, and it seems that the competition among automakers will intensify to surpass the global leader Tesla in electric vehicle production, led by billionaire Elon Musk.
Despite electric vehicle sales increasing by 89% in the United States, consulting firm Cox Automotive points out that they still represent a small slice of the market: only 3% of sales in the country.
For those curious and fond of General Motors cars, the American automaker will offer, in electric versions, the Hummer, Equinox, Silverado, and Sierra to the market.
However, the new executive order from U.S. President Joe Biden, mandating that half of sales be free of carbon emissions by 2030, has been a major stimulus for manufacturers to move towards alternatives with electric, hybrid, or hydrogen-powered vehicles. Recently, luxury automakers Lamborghini and Bentley announced plans to electrify all their cars.
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