GM’s $20 Billion Pledge to Autonomous and Electric Vehicles

For over a century, GM has produced vehicles with a reliance on non-eco-friendly fuel sources. But, in an effort to compete with newcomers like Tesla and Rivian, the carmaker plans to spend $20+ billion on new all-electric and autonomous vehicles through 2025, when at least 20 new models will have rolled off the line. At an unveiling, GM representatives touted future models with ranges of 400 miles and nearly instant charging capabilities—plus a zero-to-60mph time of 3.2 seconds. All of this comes courtesy of the implementation of GM’s proprietary “Ultium” batteries, a move that “represents a chance to reinvent the company and reset our brands,” GM President Mark Reuss tells CNBC. Read more there.