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.”
News
Tesla launches in India with Model Y, showing pricing will be biggest challenge
Tesla finally got its Model Y launched in India, but it will surely come at a price for consumers.
Tesla has officially launched in India following years of delays, as it brought its Model Y to the market for the first time on Tuesday.
However, the launch showed that pricing is going to be its biggest challenge. The all-electric Model Y is priced significantly higher than in other major markets in which Tesla operates.
On Tuesday, Tesla’s Model Y went up for sale for 59,89,000 rupees for the Rear-Wheel Drive configuration, while the Long Range Rear-Wheel Drive was priced at 67,89,000.
This equates to $69,686 for the RWD and $78,994 for the Long Range RWD, a substantial markup compared to what these cars sell for in the United States.
🚨 Here’s the difference in price for the Tesla Model Y in the U.S. compared to India.
🚨 59,89,000 is $69,686
🚨 67,89,000 is $78,994 pic.twitter.com/7EUzyWLcED— TESLARATI (@Teslarati) July 15, 2025
Deliveries are currently scheduled for the third quarter, and it will be interesting to see how many units they can sell in the market at this price point.
The price includes tariffs and additional fees that are applied by the Indian government, which has aimed to work with foreign automakers to come to terms on lower duties that increase vehicle cost.
Tesla Model Y seen testing under wraps in India ahead of launch
There is a chance that these duties will be removed, which would create a more stable and affordable pricing model for Tesla in the future. President Trump and Indian Prime Minister Narendra Modi continue to iron out those details.
Maharashtra Chief Minister Devendra Fadnavis said to reporters outside the company’s new outlet in the region (via Reuters):
“In the future, we wish to see R&D and manufacturing done in India, and I am sure at an appropriate stage, Tesla will think about it.”
It appears to be eerily similar to the same “game of chicken” Tesla played with Indian government officials for the past few years. Tesla has always wanted to enter India, but was unable to do so due to these import duties.
India wanted Tesla to commit to building a Gigafactory in the country, but Tesla wanted to test demand first.
It seems this could be that demand test, and the duties are going to have a significant impact on what demand will actually be.
Elon Musk
Tesla ups Robotaxi fare price to another comical figure with service area expansion
Tesla upped its fare price for a Robotaxi ride from $4.20 to, you guessed it, $6.90.
Tesla has upped its fare price for the Robotaxi platform in Austin for the first time since its launch on June 22. The increase came on the same day that Tesla expanded its Service Area for the Robotaxi ride-hailing service, offering rides to a broader portion of the city.
The price is up from $4.20, a figure that many Tesla fans will find amusing, considering CEO Elon Musk has used that number, as well as ’69,’ as a light-hearted attempt at comedy over the past several years.
Musk confirmed yesterday that Tesla would up the price per ride from that $4.20 point to $6.90. Are we really surprised that is what the company decided on, as the expansion of the Service Area also took effect on Monday?
But the price is now a princely $6.90, as foretold in the prophecy 😂
— Elon Musk (@elonmusk) July 14, 2025
The Service Area expansion was also somewhat of a joke too, especially considering the shape of the new region where the driverless service can travel.
I wrote yesterday about how it might be funny, but in reality, it is more of a message to competitors that Tesla can expand in Austin wherever it wants at any time.
Tesla’s Robotaxi expansion wasn’t a joke, it was a warning to competitors
It was only a matter of time before the Robotaxi platform would subject riders to a higher, flat fee for a ride. This is primarily due to two reasons: the size of the access program is increasing, and, more importantly, the service area is expanding in size.
Tesla has already surpassed Waymo in Austin in terms of its service area, which is roughly five square miles larger. Waymo launched driverless rides to the public back in March, while Tesla’s just became available to a small group in June. Tesla has already expanded it, allowing new members to hail a ride from a driverless Model Y nearly every day.
The Robotaxi app is also becoming more robust as Tesla is adding new features with updates. It has already been updated on two occasions, with the most recent improvements being rolled out yesterday.
Tesla updates Robotaxi app with several big changes, including wider service area
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Tesla Model Y and Model 3 dominate U.S. EV sales despite headwinds
Tesla’s two mainstream vehicles accounted for more than 40% of all EVs sold in the United States in Q2 2025.
Tesla’s Model Y and Model 3 remained the top-selling electric vehicles in the U.S. during Q2 2025, even as the broader EV market dipped 6.3% year-over-year.
The Model Y logged 86,120 units sold, followed by the Model 3 at 48,803. This means that Tesla’s two mainstream vehicles accounted for 43% of all EVs sold in the United States during the second quarter, as per data from Cox Automotive.
Tesla leads amid tax credit uncertainty and a tough first half
Tesla’s performance in Q2 is notable given a series of hurdles earlier in the year. The company temporarily paused Model Y deliveries in Q1 as it transitioned to the production of the new Model Y, and its retail presence was hit by protests and vandalism tied to political backlash against CEO Elon Musk. The fallout carried into Q2, yet Tesla’s two mass-market vehicles still outsold the next eight EVs combined.
Q2 marked just the third-ever YoY decline in quarterly EV sales, totaling 310,839 units. Electric vehicle sales, however, were still up 4.9% from Q1 and reached a record 607,089 units in the first half of 2025. Analysts also expect a surge in Q3 as buyers rush to qualify for federal EV tax credits before they expire on October 1, Cox Automotive noted in a post.
Legacy rivals gain ground, but Tesla holds its commanding lead
General Motors more than doubled its EV volume in the first half of 2025, selling over 78,000 units and boosting its EV market share to 12.9%. Chevrolet became the second-best-selling EV brand, pushing GM past Ford and Hyundai. Tesla, however, still retained a commanding 44.7% electric vehicle market share despite a 12% drop in in Q2 revenue, following a decline of almost 9% in Q1.
Incentives reached record highs in Q2, averaging 14.8% of transaction prices, roughly $8,500 per vehicle. As government support winds down, the used EV market is also gaining momentum, with over 100,000 used EVs sold in Q2.
Q2 2025 Kelley Blue Book EV Sales Report by Simon Alvarez on Scribd
Tesla launches in India with Model Y, showing pricing will be biggest challenge
Tesla ups Robotaxi fare price to another comical figure with service area expansion
Tesla Model Y and Model 3 dominate U.S. EV sales despite headwinds
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