General Motors announced a series of updates to its electric and autonomous vehicle programs last week, including the release of 30 electric vehicles by 2025 and the launch of a second-generation “Ultium” battery that is projected to deliver “twice the energy density at less than half the cost of today’s chemistry.” The company also noted that it expects to invest $27B in the ongoing initiatives (up from $20B announced in March) and that over half of its capital spending and product development team will be devoted to electric and autonomous vehicle programs.
More context: The announcement comes amid a push by the 111-year old automaker to compete with Telsa and other manufacturers as the auto industry expands its focus on electric vehicles.
