General Motors plans to exclusively offer electric vehicles by 2035


By: - Climate DepotJanuary 28, 2021 5:47 PM

https://www.cnbc.com/2021/01/28/general-motors-plans-to-exclusively-offer-electric-vehicles-by-2035.html

  • GM plans to exclusively offer electric vehicles by 2035, ending production of its cars, trucks and SUVs with diesel- and gasoline-powered engines.
  • The company’s “aspirations” are part of a larger plan for the Detroit automaker to be carbon neutral by 2040 in its global products and operations.
  • GM’s plan comes a day after President Joe Biden signed a series of executive orders that prioritize climate change.
2022 GMC Hummer EV sport utility truck
GM

DETROIT — General Motors wants to end production of all diesel- and gasoline-powered cars, trucks and SUVs by 2035 and shift its entire new fleet to electric vehicles as part of a broader plan to become carbon neutral by 2040, the company said Thursday.

The company plans to use 100% renewable energy to power its U.S. facilities by 2030 and global facilities by 2035 — five years ahead of a previously announced goal.

GM’s announcement comes a day after President Joe Biden signed a series of executive orders that prioritize climate change across all levels of government and put the U.S. on track to curb planet-warming carbon emissions.

Shares of GM increased as much as 7.4% during intraday trading Thursday morning to $53 a share. As of midday Thursday, shares were up about 4%. GM has a market cap of about $73 billion.