General Motors has increased its electric vehicle investment by 75%, from $20 billion to $35 billion through 2025, the company announced on Wednesday.
The additional $15 billion investment will help support GM in its quest to develop electric and autonomous vehicles, as well as “accelerate its transformative strategy to become the market leader in EVs in North America; the global leader in battery and fuel cell technology through its Ultium battery platform and HYDROTEC fuel cells; and through Cruise, be the first to safely commercialize self-driving technology at scale.”
GM announced a while back in March 2020 that it would commit $20 billion to EV and AV programs from 2020 to 2025. The plan is to eventually transition its entire fleet of vehicles to be fully electric, but the company doesn’t plan to accomplish this until 2035. Nevertheless, the company seems to be relatively serious about its transition into sustainable forms of passenger transportation, even if the goal of 2035 isn’t lofty enough for some.
The Detroit-based GM entered the EV sector with the EV1 in 1996, which used a 16.5-18.7 kWh lead-acid battery in its earliest versions. The car ultimately never made it to mass production, and it was listed on TIME’s “50 Worst Cars of All-Time” list, which is harsh considering it was one of the first attempts at a battery-powered vehicle in the modern age.
GM has been relatively successful in its quest for EV powertrains in the 21st century. The Chevrolet Bolt is its main EV at the current time, which has sold relatively well in the grand scheme of things. However, the company is planning to continue launching new models in the future, most notably the GMC Hummer EV. GM also plans to roll out the Cadillac LYRIQ and the Chevrolet Silverado electric pickup in the coming years.
“We are investing aggressively in a comprehensive and highly-integrated plan to make sure that GM leads in all aspects of the transformation to a more sustainable future,” CEO and Chairwoman Mary Barra said.
“GM is targeting annual global EV sales of more than 1 million by 2025, and we are increasing our investment to scale faster because we see momentum building in the United States for electrification, along with customer demand for our product portfolio.”
Among the obvious point of expanding its product line in general, GM outlined several other finer points of its expanded investment in a press release.
- Accelerating Ultium battery cell production in the United States: GM is accelerating plans to build two new battery cell manufacturing plants in the United States by mid-decade to complement the Ultium Cells LLC plants under construction in Tennessee and Ohio. Further details about these new U.S. plants, including the locations, will be announced at a later date.
- Commercializing U.S.-made Ultium batteries and HYDROTEC fuel cells: In addition to collaborating with Honda to build two EVs using Ultium technology – one SUV for the Honda brand and one for the Acura brand – GM announced June 15 it has signed a memorandum of understanding to supply Ultium batteries and HYDROTEC fuel cells to Wabtec Corporation, which is developing the world’s first 100 percent battery-powered locomotive.
- Separately, GM will supply HYDROTEC to Navistar, Inc., which is developing hydrogen-powered heavy trucks to launch in 2024, and Liebherr-Aerospace, which is developing hydrogen-powered auxiliary power units for aircraft. Lockheed Martin and GM also are teaming up to develop the next generation of lunar vehicles to transport astronauts on the surface of the Moon, leveraging GM’s expertise in electric propulsion and autonomous technology.
- Today, GM is confirming plans to launch its third-generation HYDROTEC fuel cells with even greater power density and lower costs by mid-decade. GM manufactures its fuel cells in Brownstown Charter Township, Michigan, in a joint venture with Honda.
- Expanding and accelerating the rollout of EVs for retail and fleet customers: In November 2020, GM announced it would deliver 30 new EVs by 2025 globally, with two-thirds available in North America. Through the additional investments announced today, GM will add to its North America plan new electric commercial trucks and other products that will take advantage of the creative design opportunities and flexibility enabled by the Ultium Platform. In addition, GM will add additional U.S. assembly capacity for EV SUVs. Details will be announced at a later date.
- Safely deploying self-driving technology at scale: Cruise, GM’s majority-owned subsidiary, recently became the first company to receive permission from regulators in California to provide a driverless AV passenger service to the public. Cruise also was recently selected as the exclusive provider of AV rideshare services to the city of Dubai and is working with Honda to begin development of an AV testing program in Japan. In addition, GM Financial will provide a multi-year, $5 billion credit facility for Cruise to scale its Cruise Origin fleet. Developed through a partnership between GM, Honda, and Cruise, the Cruise Origin will be built at GM’s Factory ZERO Detroit-Hamtramck Assembly Center starting in early 2023.
The focus for Barra is based on the Earth, and making it a better place through sustainability, she said.
“There is a strong and growing conviction among our employees, customers, dealers, suppliers, unions, and investors, as well as policymakers, that electric vehicles and self-driving technology are the keys to a cleaner, safer world for all.”
Tesla is atop the American-Made Index from Cars.com for the sixth-straight year, as the Model 3 and Model Y took the top two spots, respectively.
Last year, the Model 3, Model Y, Model S, and Model X took the top four spots, respectively. The company has routinely performed well in the Index. However, Tesla discontinued its flagship Model S and Model X earlier this year, which took the two cars out of the ranking.
Cybertruck is not considered due to its curb weight being above the 8,500-pound threshold, which eliminates it from being required to have more detailed assembly information.
Cars.com uses five main categories to develop its rankings:
- Location(s) of final assembly
- Percentage of U.S. and Canadian parts
- Countries of origin for all available engines
- Countries of origin for all available transmissions
- U.S. manufacturing workforce
These five major factors are then put into a 100-point scale. The vehicles with the highest scores sit atop the list. The Model 3 edged out the Model Y.
🇺🇸 The Tesla Model 3 and Tesla Model Y have been put atop the American-Made Index from https://t.co/PXZ0g1pPb6, meaning they are the most American vehicles you can possibly buy.
This is the SIXTH-STRAIGHT year a Tesla has been listed as the most American-made vehicle: pic.twitter.com/HyraOmaxSL
— TESLARATI (@Teslarati) June 23, 2026
Tesla uses a strong domestic strategy to build its cars and parts domestically. It relies on intense vertical integration that reduces its dependence on global suppliers, keeping more value and jobs in the United States.
This strategy has helped Tesla gain a strong reputation for domestically produced vehicles and parts. However, it helps it with more than just awards like this one. Keeping a supply chain local has also helped insulate Tesla more than others from tariffs and supply chain disruptions.
This year’s American-Made Index from Cars.com studied nearly 400 vehicles from the 2026 model year. Tesla was the only manufacturer to have an EV inside the Top 10. The Kia EV9 was the next EV to make the list, scoring the 17th position.
The Hyundai IONIQ 5 was 21st, and the final EV to make the list was the Cadillac LYRIQ in 77th.
Tesla has finally clarified the situation regarding the viral crash in Texas where a Model 3 slammed into a home.
CEO Elon Musk replied to reports on Monday that stated the crash was due to the company’s Full Self-Driving or Autopilot suite, which seemed unlikely to those who are familiar with it. Video showed the car slamming into a house at an excessive rate of speed, making it highly unlikely the crash was due to the suite’s operation, as it does not travel at those speeds in residential areas.
Musk said:
“This makes no sense. FSD drives slowly through neighborhood streets, and this was a high-speed crash!”
Tesla’s Head of AI, Ashok Elluswamy, added context, revealing that the company’s data shows the driver “manually overrode self-driving by pressing the accelerator all the way to 100%.”
He revealed the speed reached by the car was 73 MPH, and the accelerator was still pressed “even after the crash.”
Yup. In this case, the driver manually overrode self-driving by pressing the accelerator all the way to 100% of the accel pedal in this residential area. They reached a speed of 73 mph during the crash, and had the accelerator pressed even after the crash.
— Ashok Elluswamy (@aelluswamy) June 22, 2026
Authorities are reportedly investigating “whether Tesla’s Autopilot system played a role after a Model 3 left the roadway…slammed through a brick house at high speed and fatally struck Matha Avila as she sat inside,” the New York Post reported.
The National Highway Traffic Safety Administration (NHTSA) is now investigating the crash. Tesla will work with the agency to provide them with whatever information they need in order to clarify the cause of the crash.
Similarly, Tesla had claims of a fatal accident in Harris County, Texas, a few years ago. Early reports indicated that Full Self-Driving was the cause of the crash. After the National Transportation Safety Board (NTSB) worked with Tesla, the agency proved there was “no use of the Autopilot system at any time during this ownership period of the vehicle, including the time frame up to the last transmitted timestamp on April 17, 2021.”
Tesla alleged “driverless” crash in Texas: What is known so far
“Application of the accelerator pedal was found to be as high as 98.8 percent,” the NTSB said in their findings. The highest recorded speed in the five seconds leading up to the impact was 67 miles per hour. The area where the crash occurred is residential, and Texas State laws have default speed limits of 30 MPH in residential streets.
This appears to be a similar situation. However, an investigation will prove what happened for sure.
SpaceX announced today that it commenced its first-ever public bond offering, marking a significant step in the newly public company’s capital markets strategy.
The company announced an offering of senior unsecured notes expected to raise at least $20 billion.
The move comes just a short time after SpaceX completed one of the largest initial public offerings in history. In mid-June, the company priced shares at $135 and raised more than $85 billion, propelling founder Elon Musk’s net worth past the trillion-dollar mark and giving the firm substantial liquidity.
🚨 SpaceX has announced its inaugural offering of senior unsecured notes.
The net proceeds will be used to repay outstanding loans under its bridge loan facility in full.
This inaugural debt offering represents a financing milestone for SpaceX, which previously depended… pic.twitter.com/pcOZuVbTRv
— TESLARATI (@Teslarati) June 22, 2026
According to the company’s SEC filing, the net proceeds from the notes will be used primarily to repay in full the outstanding borrowings under its existing bridge loan facility, cover related fees and expenses, and fund general corporate purposes. The offering is being conducted under Rule 144A, as well as Regulation S, targeting qualified institutional buyers and non-U.S. investors. Notes will be unsecured obligations ranking equally with other unsubordinated debt.
The $20 billion bridge loan was used to refinance approximately $17.5 billion in higher-cost “junk” debt tied to X and xAI. SpaceX had merged with xAI in February 2026 in an all-stock deal. The bridge facility, which matures in September 2027, had represented the bulk of SpaceX’s long-term debt.
SpaceX officially acquires xAI, merging rockets with AI expertise
In connection with the bond launch, SpaceX disclosed it held approximately $100.8 billion in cash and cash equivalents as of June 19. Investor calls began on the announcement date, with pricing and launch expected shortly thereafter. Rating agencies have assigned investment-grade ratings to the proposed bonds, reflecting confidence in SpaceX’s dominant position in commercial launches and the growth trajectory of its Starlink internet offering.
The debt raise also allows SpaceX to optimize its balance sheet by replacing short-term, higher-cost bridge financing with longer-date, lower-cost fixed-income securities. This provides greater financial flexibility to support capital-intensive initiatives, including the development of Starship, the expansion of the Starlink constellation, and the integration of AI capabilities following the xAI combination.
SpaceX shares (NASDAQ: SPCX) fell sharply on the news, dropping over 16 percent overall on the market on Monday. The stock had surged initially after debuting but pulled back amid profit-taking and broader market dynamics.
Overall, the bond offering underscores SpaceX’s transition to a mature public company with access to diverse funding sources. It positions the firm to pursue its long-term vision of multiplanetary expansion and AI infrastructure, while maintaining a disciplined approach to its capital structure in a high-growth but capital-heavy industry.
Tesla tops American-Made Index for sixth-consecutive year
Tesla finally clarifies fatal Texas crash, confirms driver manually overrode acceleration
