Author: Andrew J. Hawkins
General Motors announced that it would increase its investment in electric and autonomous vehicles to $35 billion through 2025. The new figure represents a 30 percent increase over the amount the automaker said it would spend last November, and a 75 percent increase from its initial investment prior to the pandemic.
It’s a staggering amount of money to be spent on what is arguably still a small percentage of the overall car market. Despite rapid growth in sales over the past few years, EVs are still a niche product, making up just 2 percent of the new car market and 1 percent of all cars, SUVs, vans, and pickup trucks on the road.
That said, sales are expected to pick up in the next few years, depending on new incentives and...
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Continue reading...
General Motors announced that it would increase its investment in electric and autonomous vehicles to $35 billion through 2025. The new figure represents a 30 percent increase over the amount the automaker said it would spend last November, and a 75 percent increase from its initial investment prior to the pandemic.
It’s a staggering amount of money to be spent on what is arguably still a small percentage of the overall car market. Despite rapid growth in sales over the past few years, EVs are still a niche product, making up just 2 percent of the new car market and 1 percent of all cars, SUVs, vans, and pickup trucks on the road.
That said, sales are expected to pick up in the next few years, depending on new incentives and...
Continue reading…
Continue reading...