buying GM amping up EV and autonomous vehicle development to $35B through 2025
UBS: This electric car manufacturer could jointly dominate the EV market with Tesla
, he has already begun changing from the traditional combé to the electric car. In the future, the competition for Electric Autopionier Tesla should therefore increase; The fight for supremacy in electric vehicles is likely to intensify according to the UBS in the next few years. © Provided by finanzen.net Daniel Roland / AFP / Getty Images • UBS: Parity for manufacturing costs and operating margin for electrical and non-electric vehicles up to 2025 • NOT NIO or XPENG in the future worldwide le
General Motors will substantially accelerate its investment in electric cars and autonomous vehicle technologies,. The Detroit automaker will ramp up its investments from a previously announced $20 billion to $35 billion through 2025. A portion of that funding will go towards the creation of two additional lithium-ion battery cell plants in North America, doubling today's total.
"GM is also announcing two new Ultium battery cell plants in the US, in addition to our plants that are already under construction in Ohio and Tennessee," GM's CEO Mary Barra. The automaker did not disclose where those plants will be located.
Volvo uses NVIDIA chips for autonomous driving - NVIDIA cooperated with car maker
The new Volvo XC90 is equipped from 2022 with chips from NVIDIA. Three years later, the Tech company brings a new evolutionary stage with again more computing power. © Nvidia The software specialist NVIDIA has now presented a chip under the name Nvidia Drive Atlan a chip for use in autonomous cars. The high performance chip is provided as part of a system that works with artificial intelligence.
The $35 billion investment total is a dramatic ramp up from the figure announced in March 2020 (largely prior to the ) and that amount pushes GM's planned investments past those of arch-rival Ford, which has committed $30 billion to EVs and AVs over the same time period.
The news comes amidst increasing profit projections for this year, despite the pandemic and the , which has been hurting production of new vehicles. According to a GM press release, the company expects its second-quarter profits to be $3 to $4 billion higher than earlier estimates. The company is now targeting first-half earnings of $8.5 billion to $9.5 billion before interest and taxes, up from $5.5 billion.
As part of the announcement, GM also confirmed it will launch a third generation of Hydrotec fuel cells by "mid-decade," as part of a joint-venture agreement with Japanese automaker Honda.
2023 Cadillac Lyriq First Look: Wait, This Electric SUV Isn’t the Concept Car?
If an electric SUV from Cadillac is on your wish list, listen up, because General Motors has pulled forward production of the 2023 Cadillac Lyriq, a midsize electric crossover that will be available a year from now with a starting price of $59,990. Originally the Lyriq was slated to appear late in 2022 or early in 2023. © Motor Trend Staff 2023 Cadillac Lyriq EV SUV 5 How did Cadillac manage to pull the project forward by a full nine months? Testing is ahead of schedule.
worldwide. At present, however, it only offers the recently refreshed Chevrolet Bolt EV and its new crossover derivative, the Bolt EUV. The automaker has already revealed other new EVs, including the (shown above) and the .
GM has already confirmed its electric transformation won't just be for everyday new consumer vehicles. Among its other battery-powered power plays, the company previously revealed a that's . In January at , the automaker also confirmed it is pursuing developing flying vehicles, including an , which could carry Cadillac branding.
GM stock is up over 2.5% as of publication.
England: a giga-electric battery factory for 2025? .
© Xpacifica / Getty Images England: A Giga-Electric Batteries Factory For 2025? The West Midlands Region (center of England) announced this Thursday, July 15 have received plans for the implementation in Coventry with a "Giga-factory" responsible for making batteries for electric cars, which should create until 'at 6,000 jobs.