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The Biggest Threat To Brazil’s Oil Boom

The Biggest Threat To Brazil’s Oil Boom

Brazil’s oil industry has had…

GM Will Go All Electric By 2035

GM is going all-in toward an all-electric future, aiming to eliminate all tailpipe emissions from new light-duty vehicles by 2035 as part of a wider strategy to become a carbon-neutral business by 2040.

In a major announcement on Thursday, the highest-selling U.S. automaker said it would offer 30 all-electric models globally by the middle of this decade. A total of 40 percent of the company’s U.S. models offered will be battery electric vehicles (BEVs) by the end of 2025.

The automaker is investing $27 billion in electric and autonomous vehicles in the next five years. That’s up from the $20 billion planned before the start of the COVID-19 pandemic.

“General Motors is joining governments and companies around the globe working to establish a safer, greener and better world,” Mary Barra, GM Chairman and CEO, said in a statement.

“We encourage others to follow suit and make a significant impact on our industry and on the economy as a whole,” Barra added.

Earlier this month, GM unveiled a new logo and brand identity, making it clear it would significantly boost its EV offering.

“The new GM logo features a color gradient of vibrant blue tones, evoking the clean skies of a zero-emissions future and the energy of the Ultium platform,” GM said in early January, noting that “within the negative space of the “m” is a nod to the shape of an electrical plug.”

As part of the carbon-neutral pledge, GM gas worked with the Environmental Defense Fund (EDF) to develop a shared vision of an all-electric future, the carmaker said today.

Commenting on GM’s ‘clean cars’ announcement, EDF President Fred Krupp wrote in a blog post:

“Why is this a big deal? When a leading U.S. carmaker takes such a step, it sends a powerful signal to the industry that being on the road to zero emissions is an essential element of every automaker’s business plan.”

GM’s announcement on zero-emission vehicles by 2035 comes days after President Joe Biden vowed to replace the almost 650,000-strong federal vehicle fleet with electric cars as part of his climate agenda.  

By Tsvetana Paraskova for Oilprice.com

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