GM: Future of Automotive Industry is Electric
May 8, 2015—General Motors declared the auto industry’s future is electric in an annual sustainability report released on Thursday.
GM currently has 180,834 electrified vehicles on the road and is preparing to launch the Chevrolet Bolt that will be able to travel 200 miles between charges.
"The company believes the future is electric, with billions (of dollars) of investment to support an all-in-house approach to the development and manufacturing of electrified vehicles," the report stated.
This sustainability report makes investors, consumers and government regulators aware that GM is pursuing new technologies that will rely less on fossil fuels and require alternate transportation choices in the future.
In addition to the the launch of the Bolt, GM will also offer a hybrid option on the 2016 Chevrolet Malibu and is developing a hybrid version of the new Cadillac CT6.
Analysts believe that the electrified cars are not making money, but they are essential for GM to comply with federal fuel economy standards, which GM said they intend to meet.
GM has made 122 facilities landfill-free and eliminated methane-generating waste. GM also stopped burning coal last year in all North American plants and boosted the use of renewable energy.