General Motors Co. Chairman and CEO, Mary Barra, has revealed that the company will offer 30 all-electric models globally by mid-decade. Forty percent of the company’s U.S. models will be battery electric vehicles by the end of 2025.
GM brands Cadillac, GMC, Chevrolet and Buick will all be represented in the upcoming electrified line-up.
Barra also announced an increase in GM’s financial commitment to EVs and autonomous vehicles (AVs) to $27 billion through 2025 – up from the $20 billion planned before the onset of Covid-19.
More than half of GM’s capital spending and product development team will now be devoted to electric and electric-autonomous vehicle programs.
Barra says: “Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle. We are transitioning to an all-electric portfolio from a position of strength and we’re focused on growth. We can accelerate our EV plans because we are rapidly building a competitive advantage in batteries, software, vehicle integration, manufacturing and customer experience.”
She adds: “We are resolved as a management team to move even faster to expedite the transition to EVs. The all-electric future we are building integrates all the things we do better than anybody else – so we can put everyone in an EV, generate profitable growth and create shareholder value.”
Doug Parks, GM executive vice president of Global Product Development, Purchasing and Supply Chain, comments: “It’s not just the cost and performance of our innovative EV components that will give us a competitive advantage in a fast-changing industry, but how we integrate them with other advanced systems like Super Cruise, our Vehicle Intelligence Platform electrical architecture and other technologies pioneered in our traditional portfolio.”
After the GMC HUMMER EV, the next EV to launch will be the LYRIQ, Cadillac’s first all-electric vehicle, which will arrive in the first quarter of 2022.