It is Going. As GM Goes So Goes the EV Market

SITUATION:
GM is transitioning to & investing heavily in electric vehicles.
In the next 5 years, seeks to be the major source of EV cars & trucks.
Investing $27B by 2025 & set to take on Tesla more & more.

SIGNIFICANCE :
GM’s investment of billions in EVs is not without risk.
Now investing more in Electric vehicles than in gas or diesel.
GM seeks to refashion itself as a mobility company of the future.
Push will be toward EVs & into self-driving cars with the acquisitions.
EV revolution could trigger the eventual AV revolution in vehicle market.

SOLUTION:
GM plans to introduce EVs at every price point in next 5 years.
Projects high-volume entries below $35,000 to luxury vehicles at $80,000.
GM plans to bring 30 new EV models to market in total by 2025
Will hire 3,000 employees with expertise in software & coding by early 2021
Continued development of autonomous vehicle technology & marketing.

STATS:
GM sold nearly 2,887,046 vehicles in total in 2019.
Electric vehicles were only 7% of total sales
GM Market EV market share is increasing month over month

SOURCES:
“General Motors will invest $27Bn in electric vehicles by 2025” – https://www.tu-auto.com/weekly-brief-gm-bets-big-on-ev-revolution/?NL=TU-001&Issue=TU-001_20201123_TU-001_294&sfvc4enews=42&cl=article_4&utm_rid=CPENT000000031065&utm_campaign=25170&utm_medium=email&elq2=b84ed057dd0841bfa28d5728856afe87&utm_source=29903

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