GM is raising its investment in electric vehicles and pushing deeper into battery production, making it the latest global auto maker to accelerate its transition to plug-in cars
through mid-decade by about one-third, to $30 billion by 2025. That sum includes some money spent in recent years. Ford also said Wednesday that it expects half of vehicle sales from its luxury Lincoln brand to be fully electric within four years.In the past year, the amount of planned spending by car companies on electric vehicles has surged 41%, according to consulting firm AlixPartners LLP.
“The investment has reached an inflection point,” said Mark Wakefield, co-leader of AlixPartners’ automotive practice. The spending increase coincides with President Biden’s push for federal investment in battery manufacturing and charging stations to support U.S. electric-vehicle production. The administration
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GM partnering with Wabtec on electric freight locomotives for rail industryThe companies have signed a nonbinding memorandum of understanding for GM to engineer and supply its battery and fuel cell systems for Wabtec locomotives.
Read more »
GM looking at longer-term supply contracts and partnerships for chips -CFOGeneral Motors Co (GM.N) is looking at signing longer-term supply contracts or partnering with chip and wafer suppliers in the future to mitigate the impact it has seen from the global semiconductor shortage, the automaker's chief financial officer said on Wednesday.
Read more »
House of Wise CBD Raises $2 Million“When someone sees me, a founder and mom of three toddlers with a corporate background, talking about my health and wellness routine which includes things like cannabis and masturbation, they…
Read more »
Fed holds interest rates steady, raises inflation forecastThe Fed dramatically raised its forecast for inflation and shifted up the timeline for a rate hike.
Read more »
Crypto asset manager Bitwise raises $70 million from Kravis, Druckenmiller, Bridgewater CEO McCormick and moreCrypto index fund manager Bitwise raised $70 million from Wall Street and Silicon Valley heavy hitters.
Read more »
Federal Reserve holds interest rate steady, raises expectations for rising inflationFederal Reserve keeps interest rates steady, but dramatically raises its forecast for inflation and shifts up the timeline for a rate hike.
Read more »