GM plan to dethrone Tesla in electric car sales by 2025

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General Motors will invest roughly $6.6 billion in its home state of Michigan over the next several years.

The new investment plans to increase electric pickup truck production and build a new EV battery cell plant.

On Tuesday the automaker announced this as a part of a plan to increase GM’s North American production capacity for electric vehicles to 1 million units by 2025

“We will have the products, the battery cell capacity and the vehicle assembly capacity to be the EV leader by mid-decade,” GM CEO Mary Barra said in a release.

GM has a lot to catch up to do by 2025. Tesla, which does not release U.S. sales specifically, delivered 936,172 electric vehicles globally in 2021. GM sold less than 25,000 EVs last year — ranking third in U.S. EV sales behind Tesla and Ford, which sold 27,140 of its Mustang Mach-E EVs.

Auto insights and forecasting firm LMC Automotive expects Tesla’s U.S. production capacity to increase from about 580,000 units to about 1 million later this year when its second domestic plant in Texas comes fully online later this year.
– CNBC

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