General Motors set a goal of going electric by 2035

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General Motors said it would use 100% renewable energy to power its U.S. sites by the end of this decade. 

What’s new: 

General Motors set a goal of making the majority of its vehicle fully electric by 2035, and the company carbon neutral. 

The Detroit automaker’s push into electric vehicles has gone into overdrive this year. 

GM has already declared that it will invest $27 billion in electric and self-driven cars in the next five years, a 35% increase over plans made before the pandemic. The company will offer 30 electric vehicle models worldwide in the coming five years. 

The company announced that by the end of 2025, 40% of its U.S. vehicle models would be electric. And the plan includes electric crossovers, SUVs, sedans and trucks in the vehicle lineup. 

General Motors said that it would use 100% renewable energy sources in its U.S. sites by 2030 and global sites by 2035, five years faster than its previous plan. 

Details: 

The auto giant has a mission to make most of its all-new light-duty vehicles 100% electric within 14 years. The company will offer zero-emission cars in the different price ranges. GM is collaborating with others, including the Environment Defense Fund, to assemble the best infrastructure to power its electric vehicles. 

The company has also revealed its new corporate logo to manifest its new direction, which is drawn towards electric vehicles. And it wants to achieve the feat of being one of the clean vehicle companies, rather than just building gas-powered pickups and SUVs. 

And it announced a new partnership with Microsoft in January with hopes to quicken its rollout of electric, autonomous vehicles. 

GM’s push for carbon neutrality comes after President Joe Biden signed the executive orders. The order includes moving towards an all-electric federal vehicle fleet. President’s ultimate goal is to change the country’s heavily fossil-fuel powered economy into a clean one. 

Wall Street has acknowledged this shift by General Motors, which says the industry has made a history-changing inflection point for adopting electric vehicles. 

With a 20% rise, the shares of GM this year have outpaced even Tesla.

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