The hype over electric vehicle

2021-06-16

The hype over electric vehicles.

GM to boost spending on electric vehicles 30%, add two new battery plants -sources

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SandDust
2021-06-16
SandDust
It is not a hype but a trend.
kyawkh
2021-06-16
kyawkh
yeah

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In November, GM upped its spending plans from $20 billion, a figure that was announced in March before the COVID-19 pandemic shut down the auto industry.\nThe Detroit company declined to comment.\nThe expected announcement of increased spending by GM comes less than a month after rival Ford Motor Co(F.N)upped its EV spending by more than a third to over $30 billion by 2030.\nThe combined $65 billion in commitments by the largest U.S. automakers, as well as increased spending by EV leader Tesla Inc(TSLA.O)and startups including Lucid and Rivian reflect the EV arms race that has left some automakers like Lordstown Motors Corp(RIDE.O)scrambling to raise more funds.\nIn addition, GM Chief Executive Mary Barra is scheduled to meet on Wednesday with U.S. House Speaker Nancy Pelosi and other key Democrats to discuss EVs and vehicle emissions, the sources said.\nBarra will also meet U.S. Representative Richard Neal, head of the tax policy Ways and Means Committee, Frank Pallone, who chairs the Energy and Commerce Committee, and two key Michigan Democrats: Representatives Dan Kildee and Debbie Dingell, the sources said.\nWOOING WASHINGTON\nWorking with Washington is critical as President Joe Biden has proposed $174 billion to boost EVs and charging as part of his infrastructure plan, including $100 billion in new EV rebates. GM's ability to benefit from the current $7,500 federal EV tax credit has expired.\nGM has sparred with Democrats over vehicle emissions rules, but last week said it supported overall emissions reductions in California's 2019 deal with other major automakers. It has also sought more flexibility to hit carbon reduction target between now and 2026.\nThe Associated Press reported on Monday that GM planned to announce two new U.S. battery plants, citing comments by President Mark Reuss. GM confirmed the executive's comments, but sources said the company has not decided where in the United States to build the plants, which are each expected to cost more than $2 billion.\nIn January, GM said it was setting a goal to sell all its new cars, SUVs and light pickup trucks with zero tailpipe emissions by 2035, a dramatic shift away from gasoline and diesel engines.\nGM and its South Korean joint-venture partner, LG Energy Solution(003550.KS), are already building a battery plant in northeastern Ohio and have announced a second, $2.3 billion battery plant will be located in Spring Hill, Tennessee.\nGM confirmed in November it would speed up the rollout of new EVs, with plans to offer 30 models globally by 2025, up from a prior target of 20 by 2023. Barra said the automaker wants to exceed annual sales of 1 million EVs in the United States and China by 2025.\nOn May 26, a Senate committee advanced legislation that would boost tax credits to as much as $12,500 for EVs assembled by union workers in the United States. The current maximum tax credit is $7,500.\nThe bill also includes a 30% tax credit for manufacturers to retool or build new facilities to produce advanced energy technologies including batteries. That would represent a big boost to GM's battery factory plans.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GM to boost spending on electric vehicles 30%, add two new battery plants -sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGM to boost spending on electric vehicles 30%, add two new battery plants -sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nReuters \n2021-06-16 07:40\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\nWASHINGTON, June 15 (Reuters) - General Motors Co will boost global spending on electric and autonomous vehicles to $35 billion through 2025, a 30% jump over its most recent forecast as it pursues EV leadership, people briefed on the matter told Reuters.\nAs part of that spending, the No. 1 U.S. automaker will build two additional U.S. battery plants and move ahead some of its EV investments, said the sources, who asked not to be identified. In November, GM upped its spending plans from $20 billion, a figure that was announced in March before the COVID-19 pandemic shut down the auto industry.\nThe Detroit company declined to comment.\nThe expected announcement of increased spending by GM comes less than a month after rival Ford Motor Co(F.N)upped its EV spending by more than a third to over $30 billion by 2030.\nThe combined $65 billion in commitments by the largest U.S. automakers, as well as increased spending by EV leader Tesla Inc(TSLA.O)and startups including Lucid and Rivian reflect the EV arms race that has left some automakers like Lordstown Motors Corp(RIDE.O)scrambling to raise more funds.\nIn addition, GM Chief Executive Mary Barra is scheduled to meet on Wednesday with U.S. House Speaker Nancy Pelosi and other key Democrats to discuss EVs and vehicle emissions, the sources said.\nBarra will also meet U.S. Representative Richard Neal, head of the tax policy Ways and Means Committee, Frank Pallone, who chairs the Energy and Commerce Committee, and two key Michigan Democrats: Representatives Dan Kildee and Debbie Dingell, the sources said.\nWOOING WASHINGTON\nWorking with Washington is critical as President Joe Biden has proposed $174 billion to boost EVs and charging as part of his infrastructure plan, including $100 billion in new EV rebates. GM's ability to benefit from the current $7,500 federal EV tax credit has expired.\nGM has sparred with Democrats over vehicle emissions rules, but last week said it supported overall emissions reductions in California's 2019 deal with other major automakers. It has also sought more flexibility to hit carbon reduction target between now and 2026.\nThe Associated Press reported on Monday that GM planned to announce two new U.S. battery plants, citing comments by President Mark Reuss. GM confirmed the executive's comments, but sources said the company has not decided where in the United States to build the plants, which are each expected to cost more than $2 billion.\nIn January, GM said it was setting a goal to sell all its new cars, SUVs and light pickup trucks with zero tailpipe emissions by 2035, a dramatic shift away from gasoline and diesel engines.\nGM and its South Korean joint-venture partner, LG Energy Solution(003550.KS), are already building a battery plant in northeastern Ohio and have announced a second, $2.3 billion battery plant will be located in Spring Hill, Tennessee.\nGM confirmed in November it would speed up the rollout of new EVs, with plans to offer 30 models globally by 2025, up from a prior target of 20 by 2023. Barra said the automaker wants to exceed annual sales of 1 million EVs in the United States and China by 2025.\nOn May 26, a Senate committee advanced legislation that would boost tax credits to as much as $12,500 for EVs assembled by union workers in the United States. The current maximum tax credit is $7,500.\nThe bill also includes a 30% tax credit for manufacturers to retool or build new facilities to produce advanced energy technologies including batteries. That would represent a big boost to GM's battery factory plans.\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159832067","content_text":"WASHINGTON, June 15 (Reuters) - General Motors Co will boost global spending on electric and autonomous vehicles to $35 billion through 2025, a 30% jump over its most recent forecast as it pursues EV leadership, people briefed on the matter told Reuters.\nAs part of that spending, the No. 1 U.S. automaker will build two additional U.S. battery plants and move ahead some of its EV investments, said the sources, who asked not to be identified. In November, GM upped its spending plans from $20 billion, a figure that was announced in March before the COVID-19 pandemic shut down the auto industry.\nThe Detroit company declined to comment.\nThe expected announcement of increased spending by GM comes less than a month after rival Ford Motor Co(F.N)upped its EV spending by more than a third to over $30 billion by 2030.\nThe combined $65 billion in commitments by the largest U.S. automakers, as well as increased spending by EV leader Tesla Inc(TSLA.O)and startups including Lucid and Rivian reflect the EV arms race that has left some automakers like Lordstown Motors Corp(RIDE.O)scrambling to raise more funds.\nIn addition, GM Chief Executive Mary Barra is scheduled to meet on Wednesday with U.S. House Speaker Nancy Pelosi and other key Democrats to discuss EVs and vehicle emissions, the sources said.\nBarra will also meet U.S. Representative Richard Neal, head of the tax policy Ways and Means Committee, Frank Pallone, who chairs the Energy and Commerce Committee, and two key Michigan Democrats: Representatives Dan Kildee and Debbie Dingell, the sources said.\nWOOING WASHINGTON\nWorking with Washington is critical as President Joe Biden has proposed $174 billion to boost EVs and charging as part of his infrastructure plan, including $100 billion in new EV rebates. GM's ability to benefit from the current $7,500 federal EV tax credit has expired.\nGM has sparred with Democrats over vehicle emissions rules, but last week said it supported overall emissions reductions in California's 2019 deal with other major automakers. It has also sought more flexibility to hit carbon reduction target between now and 2026.\nThe Associated Press reported on Monday that GM planned to announce two new U.S. battery plants, citing comments by President Mark Reuss. GM confirmed the executive's comments, but sources said the company has not decided where in the United States to build the plants, which are each expected to cost more than $2 billion.\nIn January, GM said it was setting a goal to sell all its new cars, SUVs and light pickup trucks with zero tailpipe emissions by 2035, a dramatic shift away from gasoline and diesel engines.\nGM and its South Korean joint-venture partner, LG Energy Solution(003550.KS), are already building a battery plant in northeastern Ohio and have announced a second, $2.3 billion battery plant will be located in Spring Hill, Tennessee.\nGM confirmed in November it would speed up the rollout of new EVs, with plans to offer 30 models globally by 2025, up from a prior target of 20 by 2023. Barra said the automaker wants to exceed annual sales of 1 million EVs in the United States and China by 2025.\nOn May 26, a Senate committee advanced legislation that would boost tax credits to as much as $12,500 for EVs assembled by union workers in the United States. The current maximum tax credit is $7,500.\nThe bill also includes a 30% tax credit for manufacturers to retool or build new facilities to produce advanced energy technologies including batteries. That would represent a big boost to GM's battery factory plans.","news_type":1},"isVote":1,"tweetType":1,"viewCount":247,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":28,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":4793125,"gmtCreate":1623801161799,"gmtModify":1663228952740,"authorId":3581331938298103,"author":{"id":3581331938298103,"authorId":3581331938298103,"name":"SandDust","avatar":"https://static.tigerbbs.com/ea6083d742fc232449a625fb122842c8","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.01.09","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":160500551,"type":1,"supId":0,"prevId":0,"content":"It is not a hype but a trend.","text":"It is not a hype but a trend.","html":"It is not a hype but a trend.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":4793095,"gmtCreate":1623801108306,"gmtModify":1663228951050,"authorId":3581998173257990,"author":{"id":3581998173257990,"authorId":3581998173257990,"name":"kyawkh","avatar":"https://static.tigerbbs.com/b6819d2405688957eac033bb43e588a5","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":160500551,"type":1,"supId":0,"prevId":0,"content":"yeah","text":"yeah","html":"yeah","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/160500551"}