GM Increasing EV Spending By 30%, May Add Two Battery Factories

At this point, it seems like it’s becoming “all in” or “on the out.”

Or perhaps, “If you can’t beat them, join them.” How about “Go big or go home.” You get the point. It seems we’ve transitioned very rapidly from a time when a few companies were touting future electric cars to a time when one brand after another is touting big EV plans.

With Tesla’s growing success, and Ford and Volkswagen beginning to push even harder toward a future of electric vehicles, General Motors is, once again, increasing its EV investments and planning for the future.

GM was actually one of the first players in the EV game, but it’s been a rocky ride. Then, a few years back, the automaker started pushing out announcement after announcement, much like Volkswagen, about going “all in” on electrification.

Sadly, not much has happened with GM’s EV game since that time, aside from a highly anticipated Bolt EV refresh, in addition to a new Bolt EUV crossover model, which both came very recently.

With that said, GM has announced many future efforts, which include vehicles like the GMC Hummer EV, Cadillac Lyric, and, of course, an electric pickup truck that may be based on the Silverado.

A recent report from Reuters, republished by Autoblog, notes that GM has made plans to up its global investments related to electric cars to $35 billion between now and 2025, which is a 30% bump – or an additional $8 billion — from its last announcement. In comparison, Ford recently announced a $30 billion commitment to EVs through 2030.

According to anonymous sources familiar with the matter, some of the new money invested will be earmarked for two new battery factories in the US. At the time of writing, GM declined to comment on the matter, though there are more details provided by CEO Mary Barra in the latest CNBC video above.

Sources:Reuters via Autoblog,CNBC Television (YouTube)

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