More and more car brands are shifting production to focus on electric vehicle technology. This move is critical for increasing available EV options, making them more affordable, and increasing public confidence in these vehicle types. Most recently, General Motors (GM) announced a 75 percent increase in EV development and self-driving technology.
The $35 billion investment is a significant increase from the company’s initial 2020 commitments. The money will go towards adding capacity at its car assembly factories and the construction of two new battery plants.
GM CEO Mary Barra said in a statement, “We are investing aggressively in a comprehensive and highly-integrated plan to make sure that GM leads in all aspects of the transformation to a more sustainable future.”
GM plans to sell more than one million EVs globally by 2025 and is expected to lobby for higher EV tax credits for consumers and producers.