Thursday, February 29, 2024

US company General Motors to phase out gasoline and diesel cars by 2035 | Automotive Industry News

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The largest automaker in the United States has announced plans to become carbon neutral by 2040, marking a seismic shift in the industry.

General Motors Co said on Thursday it has set a goal of selling all of its new cars, SUVs and light trucks with zero tailpipes by 2035, a radical shift from America’s largest automaker away from gasoline and diesel engines. .

GM, which also announced its intention to become carbon neutral by 2040, made its announcement just over a week after US President Joe Biden took office, pledging to fight emissions from greenhouse gases and dramatically increase sales of electric vehicles (EVs).

GM sold 2.55 million vehicles in the United States last year, including just 20,000 electric vehicles. It said in November it was investing $ 27 billion in electric and autonomous vehicles over the next five years, up from $ 20 billion forecast before the coronavirus pandemic.

GM, which was up 7.4% on Thursday, was trading 3% at noon eastern time.

GM chief executive Mary Barra has been vigorously pushing the automaker internally to embrace electric vehicles and move away from gasoline-powered vehicles.

She said in a statement that the automaker had worked with the Environmental Defense Fund (EDF), an environmental advocacy group, to “develop a shared vision of a fully electric future and an aspiration to eliminate emissions. exhaust from new light vehicles by 2035. ”.

In September, California Governor Gavin Newsom said the state plans to ban the sale of new gasoline cars and trucks from 2035. Several states, including Massachusetts, are planning to do the same.

“We are taking action to eliminate tailpipe emissions by 2035,” said Dane Parker, GM’s sustainability director, in a briefing with reporters. “It is absolutely possible to set a goal for us in 15 years.”

EDF Chairman Fred Krupp said in a statement, “With this extraordinary step forward, GM is making it clear that taking action to eliminate pollution from all new light vehicles by 2035 is a critical part of the plan. business of any automaker.

GM also said it would source 100 percent renewable energy to power its U.S. sites by 2030 and its global sites by 2035, five years ahead of a previous target.

More than half of GM’s capital and product development team spending will be on electric and autonomous electric vehicle programs, GM said.

Biden on Monday sworn to replace the US government fleet of around 650,000 vehicles with electric models as the new administration focuses on clean energy.


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