General Motors is investing $27 billion to electrify two-fifths of its vehicles in the next five years

Energy

General Motors announced that it would be investing more into electric vehicle production, including e-trucks and SUVs, to hit the market with more products and cover more ground. The chief executive of General Motors, Mary Barra, stated that their plan is for the company to become the head in the electric vehicle industry market. 

Barra explained that they are inclined to adjust quickly to electric vehicles’ switch to remain relevant and a going concern in this industry. Initially, the company was planning to spend $20 billion on its vehicles’ production and automation through 2025. The company realized that it wouldn’t be enough and boosted the spending to $27 billion. 

Vehicles like the Cruise Origin, which is a product of General Motors collaborating with Honda, will have artificial intelligence that enables the vehicle to run independently. Such vehicles require high-performance computers and sensors to operate, with companies deciding to develop them as hybrids or electric cars. 

General Motors is also developing the EV Growth Operations department. This department will be tasked with developing new electric vehicle designs and the full packages that come with these vehicles’ engineering. 

General Motors anticipates starting selling 40% of its vehicle models as electrics all over the US. This move implies that some public service vehicles that will be coming out of the company will be electric. Additionally, the company’s chief of product development, Doug Parks, explained that they are throwing in every strategy to hasten the development period for the likes of Cadillac Lyriq SUV earlier than anticipated. The company had intended to start supplying the vehicle within the next two years but is currently preparing to deploy it early. 

Expert analyst of consulting firm Guidehouse, Sam Abuelsamid, stated that the company is propelling electric vehicles to meet the government’s regulatory pressure. California revealed that it would be adhering to the ban of fossil fuel vehicles come 2035, as articulated by the government. 

Abuelsamid explained that there has been pressure from emerging car manufacturers like Lucid and Fisker, which are bringing in new electric vehicle models to compete with the industry giants. Tesla’s leadership in the electric vehicle industry has sparked competition from other companies coming in with capable investors. 

The executives added that they are conducting more research and development on their Ultium battery technology to increase the electric vehicles’ mileage range from the initial target of 400 miles to 450 miles per charge. Nevertheless, the vehicles that will host these batteries will be those that have mega battery pack compartments. 

Finally, the company has been reluctant to display its electric vehicles using the Ultium battery technology. Nevertheless, the company is also developing new battery technology to supplement this one. 

https://industribune.net/