General Motors has set an ambitious goal. It plans to make the vast majority of its fleet electric by 2035 – just 14 years from now.
GM's goals have a hefty price tag. The company already announced it will invest $27 billion in electric and self-driving vehicles in the next five years. That's a 35 percent increase over the plans it drafted before the pandemic.
The Detroit automaker plans to offer 30 all-electric models across the globe by mid-decade, with 40 percent of its American models' battery electric vehicles. That includes electric crossovers, sedans, SUV's and trucks.
At the 2021 International Consumer Electronics Show, the company put on display, a range of electric vehicles, including a GMC Hummer pickup.
"This is the world's first all-electric super truck," said Aaron Pfau, the lead development engineer of the model. "GMC Hummer EV will be capable of zero to 60 in about three seconds."
"It has a crazy amount of power. It celebrates the performance possibilities of electric propulsion," he continued.
And it has zero emissions. GM wants to make all new light-duty vehicles, the huge majority of its fleet, completely electric by 2035.
"With this new battery package, they're promising range of up to 450 miles, which could actually get them ahead of Tesla," said Tim Stevens, the editor-in-chief of Road Show. "GM has a long way to go to catch up, but the products and the technologies they showed today should go a long way of bridging that gap."
GM's move comes as Tesla reaches a huge milestone, reporting its first full-year profit-earning $721 million in 2020. The company predicts its 2021 sales will increase by more than 50 percent.
That's one reason why a leading stock analyst believes Tesla has the potential to be a trillion-dollar company.
Meanwhile, GM also announced it's partnering with Microsoft with the goal of pushing up its release of electric, self-driving cars.
How will these vehicles be produced? GM says it will rely on renewable energy 100 percent to power its US sites by 2030 and sites around the world by 2035.