GM already had vowed to launch 30 EVs globally by the end of 2025 and transition Cadillac to an all-electric lineup late this decade. The Chevrolet Bolt EUV is slated to reach showrooms this summer, followed by the GMC Hummer EV pickup in the fall and the Cadillac Lyriq early next year.
The automaker has earmarked $27 billion toward electric and autonomous vehicle development through 2025. “It’s the lion’s share of our investment” in new products, Carlisle said, but GM continues to dedicate capital to gasoline-powered vehicles, too.
As the pandemic slowed production last year, GM protected its growing EV portfolio and even accelerated development of the Hummer pickup, unveiling it just 18 months after work began.
But neither the Hummer — which will initially cost more than $110,000 — nor the high-end Lyriq will be mass-market EVs, and mainstream adoption of battery-powered vehicles is on a trajectory that doesn’t match up with GM’s target for going emissions-free. Industrywide, IHS Markit expects 25 to 30 percent of U.S. new-vehicle sales to be battery-electric or zero-emission by 2030 and 45 to 50 percent by 2035.
Carlisle said GM has 17 commercial and technical initiatives to promote EV adoption and meet its 2035 goal. The automaker is working with the EVgo charging network and government lobbyists to expand charging infrastructure nationwide, has partnered with LG Chem to develop less expensive, more powerful batteries and plans to reshape the retail model.