General Motors plans to exclusively offer electric vehicles by 2035 Source: CNBC
DETROIT — General Motors wants to end production of all diesel- and gasoline-powered cars, trucks and SUVs by 2035 and shift its entire new fleet to electric vehicles as part of a broader plan to become carbon neutral by 2040, the company said Thursday.
The company plans to use 100% renewable energy to power its U.S. facilities by 2030 and global facilities by 2035 — five years ahead of a previously announced goal.
GM’s announcement comes a day after President Joe Biden signed a series of executive orders that prioritize climate change across all levels of government and put the U.S. on track to curb planet-warming carbon emissions.
Shares of GM increased as much as 7.4% during intraday trading Thursday morning to $53 a share. As of midday Thursday, shares were up about 3.5%. GM has a market cap of about $73 billion.