GM will partner with top startups to surpass TeslaJanuary 13, 2021
The American auto giant is going not only to catch up with Tesla in the development and production of electric cars, but also to break out into the lead. To do this, General Motors will enlist the support of some of the most promising startups to create next-generation batteries.
We are talking about a special program, in which investments amounted to $ 27 billion. General Motors is actively cooperating with Honda Motor and LG Chem, but young firms also have promising developments regarding batteries for electric cars. That is why GM decided to adopt the experience of startups – many offer innovative projects and technologies. In a race with Tesla, the more technical base the better.
We will remind, earlier it became known that GM and Honda will jointly develop several electric vehicles. However, according to representatives of the American auto giant, this cooperation can be useful in other areas. For example, the mutually beneficial use of cars and platforms with internal combustion engines.
A year ago, it became known that GM will increase the volume of funding for projects to develop electric cars and drones from $ 20 to $ 27 billion by 2025. This statement was made by GM CEO Mary Barra.
By this time, the automaker is going to bring about 20 new electric cars to the North American market.
To make this a reality, the brand will need more batteries. Most of the additional investment will go towards building additional capacity to manufacture Ultium batteries. They will be produced by a joint venture between GM and LG Chem in Ohio.
Meanwhile, General Motors presented a prototype of its flying car. It seems that this is not just a marketing ploy, but reality. Against this background, the company’s shares rose significantly.
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