GM will only sell zero-emission vehicles by 2035

The days of the internal combustion engine are numbered.

General Motors said on Thursday it would phase out petroleum-powered cars and trucks and only sell vehicles that have zero tailpipes by 2035, a seismic change from one of the biggest manufacturers. automobiles of the world that earn billions of dollars today thanks to gas guzzling vans and sport utility vehicles.

The announcement could put pressure on automakers around the world to make similar commitments. It could also encourage President Biden and other elected officials to push for even more aggressive policies to tackle climate change. Executives could cite GM’s move as proof that even big business has decided it’s time for the world to start moving away from the fossil fuels that have fueled the global economy for more than a century.

GM said its decision to switch to electric cars was part of a larger plan to become carbon neutral by 2040. Its announcement came a day after Mr Biden signed an executive order to step up the fight against the climate change, including a directive for the federal government to electrify its large fleet of vehicles.

“General Motors is joining governments and businesses around the world working to build a safer, greener and better world,” said Mary Barra, GM president and CEO, in a statement. “We encourage others to do the same and to have a meaningful impact on our industry and the economy as a whole.”

GM has said it will increase the use of renewable energy and eliminate or offset emissions from its factories, buildings, vehicles and other sources.

The company plans to spend $ 27 billion over the next five years to launch 30 electric vehicles, including a new Hummer electric pickup truck that it plans to start delivering to customers later this year.

GM stock jumped after its announcement and rose more than 3% around 1 p.m., reflecting a growing consensus among investors that electric cars are the future and that companies like Tesla will eventually dominate the auto industry. .

The company said it was working with the Environmental Defense Fund to build charging stations for electric cars and to convince drivers to switch to electric cars.

“EDF and GM have known significant differences in the past, but it’s a new day in America – a day in which serious collaboration to achieve transportation electrification, science-based climate advancements, and equitably shared economic opportunities. can move our nation forward, ”Group Chairman Fred Krupp said in a statement.