Mary Barra in 2018
General Motors will increase its financial commitment to EVs and AVs by $7 billion and launch a total of 30 new electric vehicles globally by 2025, company CEO Mary Barra said during a Barclays conference Thursday.
GM had previously set aside $20 billion for EV and AV investment and said it would launch 20 new EVs globally by 2023. This was before the COVID-19 pandemic hit, which drove GM to further increase its commitment to battery electric and self driving vehicles. Barra said the company now plans to invest a total of $27 billion in EV and AVs through to 2025, helping it launch 30 EVs worldwide within the same timeframe – more than two-thirds of which will be available in North America.
The automaker says that with this move, more than half of its capital spending and product development team will be devoted to electric and electric-autonomous vehicle programs.
“Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle,” Barra said in a prepared statement. “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.”
These 30 new EVs will include Cadillac, GMC, Chevrolet and Buick products. GM said they will also encompass EVs “at all price points,” and and for various lifestyles/uses including work, adventure, performance and family. More than 40 percent of GM’s U.S. portfolio will be battery-powered by the end of 2025.
GM also outlined some improvements to its Ultium modular battery system at the Barclays conference. Thanks to unnamed “engineering advances,” the automaker said its engineers “have increased the previously stated GM-estimated maximum range of Ultium-based vehicles from 400,” to 450 miles on a full charge. We should not that it is almost certain that only select GM electric vehicles with Ultium batteries, such as those with large, long-range battery packs, will be able to achieve this estimated range figure.
Lastly, GM said the short development cycle for the GMC Hummer EV pickup is now the standard across all of its EV programs, bumping their respective development schedules forward. These newly expedited programs include a total of 12 different vehicles and comprise an unnamed GMC pickup, a Chevy compact crossover, a Chevy pickup and four Cadillacs, among more.
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Look GM is doing this to survive into the future. This is not just a California playing games it is a number of major countries and global unions that are forcing this direction. This lis less risk doing this vs not doing it.
Yes this is being done to make money by GM not to save the world. Tesla is not a Charity either.
It is the responsibility for a CEO to lead a company to more sales and more profits for a return on investment to investors.
Change is never easy and often not fun. While GM is getting the front end of this sorted out there is still the back end to sort out.
For owners how will values of used models hold up? Will these cars used do well in resale or will they age fast as technology moves on making them like a IPhone3 in today’s world?
Things may get like Cell Phones where leases may become more the norm?
There is just a lot to be sorted but we are for sure started on this journey.
Things may even exceed just meeting ICE levels of service. The Sky is the limit but change is inevitable.
It would have sucked to have a car in my area this week as many have been without power for a week here.
I think once EV's take off that ICE vehicles might become worthless. That is typically how tech works.
This Shift will hurt some consumers.
Some might buy ICE a year or two before the inevitable EV S-Curve hits and their vehicle might become obsolete and not worth much in an open market situation.
Maybe Governments around the World might have to step in and assist a little bit. For both consumers and Auto Makers. These next 5-10 years can get crazy.
Hope for the best
No because EV is not a fits all for everyone.
There are people who will still need ICE. Just look at the many who live in areas with no garage or close charging. Farms, Isolated jobs, cold regions.
Like I said ICE is planned to be around till 2050 in most line ups in some forms.
Much will depend on where you live,
While GM may turn 40% of its fleet to EV by 2025 the market will take longer to convert.
People just think on the surface with EV and ICE you need to look at life styles, applications and regional things and how they apply.
When smart phones came out it took a while to spread and even now there are still people with flip phones.
Now some are forced out due to the end of 3 G but even with that not everyone will have 5 g for a while.
Migration takes time on many levels.
However just like Plastic bags and bottles they say oh we will recycle. Thats a bunch of BS. If its not profitable it won't be recycled. We should be buring all plastic waste and use it to make energy. Yes it polutes some but it doesn't polute the water and ground and can be burn so hot that there is very little left over. However people are too dumb to understand any of this.
This is where common sense meets reality. I am a strong supporter ofAlternative Energy and EVs, but totally agree we should burn all plastic waste not recycled in high output Retort furnaces (relax guys...they have damn near NO toxic emmissions), and capture the heat to spin electric turbines to allow for those cloudy drizzly windless days, or market steam like in some cities like today. Exactly ALL technologies work together realistically together! Hydrogen Fuel for needed stationary motors, or isolated areas lacking infrastructure, IE large construction or emergency stand by Generators, with solar, smaller more efficient mid sized aero generators now avaliable that are 3 stories tall, not 10 and the width is less because they use much smaller high efficiency propellers unlike the first generation rigs. Again, it is all coming together guys. B.
C8.R:
Thank you.
Government money, she's in bed with Biden
30 EV s by 2025, then government bailout by 2027...........
GM hype that they will jump the shark higher and farther than anyone else..........
Can you tell me any automaker with a comprehensive ICE only program past 2028?. GM never said they'll getting rid of ICE
Look up the SAE Org magazine for July Aug 2019. It is on line and google will pull it up.
The story there interviews many engineers from a number of companies and get their opinion on ICE Vs Ev.
They expect the market to be 50/50 by 2030. They also make it clear there will be some ICE still used and planned till 2050.
Now regulations and advancements with Electric can change this time line along the way but that is what they are looking at now, If new tech is discovered this could change fast if not they could remain the same. I will post a link in a new post if it will let me.
These are the people who are doing the EV work and future products. They are not their opinions but their plans.
10 years in electronics is a long time just look at a 10 year old I phone compared to today.
https://www.sae.org/publications/magazines/content/19autp08/
Please all read this as this is from the people who are really doing the work. This is the stuff the media generally does not get.
It is from last year and things appear to be speeding up now so even this timeline may be a little slow.
The changes are coming no matter if you like them or not. Regulations, Emissions and development cost alone are driving this and there is no going back.
Automakers are just trying to survive as it is difficult for them to meet everything today and still make much per car at a price people can afford. To many a new car is a 7 year payment or a pipe dream. If they can contain the development cost then they will be able to make money and hold the line on cost.
As it stand we are looking at a number of companies that could easily fail in the next ten years. Just look at the stock prices and the liabilities of many. Ford would be gone today if the family did not own half the company. This is serious stuff here that Motor Tend will not print.
I have read through most of the 40 plus comments written here and, sensibly, many of them are positive about EVs.
In Australia, the comparable public feedback about EVs is very negative. I expect this general negativity will disappear but it may take years.
I am optimistic for GM. I can see them becoming the World's leading electric car manufacturer.
Hint. Buy GM shares. They have gone up 100% since this year's low.
General Motors will increase its financial commitment to EVs and AVs by $7 billion and launch a total of 30 new electric vehicles globally by 2025,
As a follower of plain english thats wonderful statement
A total of 30 new electric vehicles from $7 billion investment
Should Tesla be worried??
wow
as a student of plain english hat means each battery will cost $7000000000 divided by 30 = $233,333,333.333
Tesla beware