GM aims to offer only electric cars by 2035, and to be carbon-neutral by 2040 – MarketWatch

General Motors Co. said Thursday it aspires to offer only electric vehicles in 15 years on its way to become a carbon-neutral company by 2040.

GM said it has worked with the nonprofit Environmental Defense Fund “to develop a shared vision of an all-electric future and an aspiration to eliminate tailpipe emissions from new light-duty vehicles by 2035.”

The goal is to focus on zero-emissions vehicles in a range of prices and working with others, including EDF, to — build out charging networks and to promote consumer acceptance “while maintaining high quality jobs, which will all be needed to meet these ambitious goals,” GM said.

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Earlier this year, GM said that it will offer 30 all-electric models globally by mid-decade, and that 40% percent of the company’s U.S. models will be battery electric vehicles by the end of 2025.

The auto maker is investing $27 billion in electric and self-driving vehicles in the next five years, up from the $20 billion planned before the COVID-19 pandemic. The plans also include fuel-efficiency gains for vehicles with internal combustion engines.