GM Doubles Down on Electric Vehicles
Virtually all legacy automakers have started to invest in electric vehicles (EVs) over the past decade. In recent years, General Motors (NYSE: GM) has been one of the most aggressive with respect to EV investments.
At its EV day in early 2020, GM revealed that it would invest over $20 billion in EVs and autonomous vehicles (AVs) through 2025. Despite the shock of the COVID-19 pandemic last year, the General has increased its investment plan -- twice. This highlights General Motors' determination to improve its competitive position in the auto industry as the EV revolution plays out.
General Motors has big plans for EVs and AVs, captured in its vision of "zero crashes, zero emissions, and zero congestion." Its Cruise subsidiary is one of the leading AV developers and is on track to commercialize self-driving taxis within a few years.
Source Fool.com
