By Michelle Chapman
General Motors has set a goal of making the vast majority of the vehicles it produces electric by 2035, and the entire company carbon neutral, including operations, five years after that.
The Detroit automaker's push into electric vehicles has gone into overdrive this year.
GM has already announced that it will invest $27 billion in electric and autonomous vehicles in the next five years, a 35% increase over plans made before the pandemic. It will offer 30 all-electric models worldwide by the middle of the decade. By the end of 2025, 40% of its U.S. models will be battery electric vehicles. The company plans to include crossovers, SUVs, sedans and trucks in its electric vehicle lineup.
GM said Thursday that it will source 100% renewable energy to power its U.S. sites by 2030 and global sites by 2035. That's five years faster than its previously announced global goal.
And it has a goal of making all new light-duty vehicles, the vast majority of its fleet, fully electric within 14 years. The company will concentrate on offering zero-emissions vehicles in different prices ranges. It's also working with others, including the Environmental Defense Fund, to build out the necessary infrastructure to power its electric vehicles and to promote their use.
To account for carbon emissions that it cannot eliminate, GM expects to invest in carbon credits or offsets
The 112-year-old auto giant unveiled a new corporate logo this month to signify its new direction as it openly pivots to electric vehicles. It wants to be seen as a clean vehicle company, rather than a builder of cloud-spewing gas-powered pickups and SUVs.
GM scrapped its old square blue logo for a lower case gm surrounded by rounded corners and an ‘m’ that looks like an electrical plug.
It also announced a new partnership with Microsoft this month with hopes of accelerating its rollout of electric, self-driving cars.
GM's push for carbon neutrality comes a day after President Joe Biden signed executive orders that include moving to an all-electric federal vehicle fleet. His goal is to transform the nation’s heavily fossil-fuel powered economy into a clean-burning one.
So far, Wall Street has cheered the shift by GM which says the industry has reached a history-changing inflection point for mass adoption of electric vehicles.
Its shares this year have outpaced even high-flying Tesla, rising more than 20% to date. Shares rose almost 2% Thursday.
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income compared to a year ago.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Netflix CEO Ted Sarandos claims audiences don't want to watch Netflix movies in theaters, but that seems not to be the case recently.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
