General Motors (GM), one of the largest automobile manufacturers in the world, announced in January 2021 that it plans to phase out gasoline-powered vehicles and produce only electric vehicles (EVs) by 2035. This decision comes as part of the company’s larger goal to become carbon neutral by 2040.
According to GM’s CEO, Mary Barra, the company aims to sell 1 million EVs annually by 2025, and to invest $27 billion in the development of EVs and autonomous vehicles over the next five years. The company also plans to introduce 30 new EV models globally by 2025.
GM’s decision to go all-electric is seen as a significant step towards reducing carbon emissions from the transportation sector, which is responsible for a large percentage of global greenhouse gas emissions. The company’s shift towards EVs is also expected to accelerate the development and adoption of EVs globally.
The announcement has been met with both praise and criticism. Supporters of the move say that it will help to combat climate change and reduce air pollution, while critics argue that the transition to EVs could lead to job losses in the automotive industry.
Overall, GM’s decision to phase out gasoline-powered vehicles and focus on EVs represents a major shift in the company’s strategy and underscores the growing importance of sustainability and environmental responsibility in the auto industry.