GM Boosting EV Spending Through 2025
June 22, 2021—General Motors plans to increase its spending on electric vehicles and autonomous technology to $35 billion through 2025, Reuters reports.
That will make for a 30 percent increase in spending compared to its most recent forecast. Reuters characterizes the move as the automaker pursuing EV leadership.
"As part of that spending, the No. 1 U.S. automaker will build two additional U.S. battery plants and move ahead some of its EV investments, said the sources, who asked not to be identified. In November, GM upped its spending plans from $20 billion, a figure that was announced in March before the COVID-19 pandemic shut down the auto industry," Reuters reports.