General Motors will give up gasoline-powered cars by 2035

General Motors will give up gasoline-powered cars by 2035

The company also plans to achieve carbon neutrality by 2040

General Motors said it will phase out gasoline-powered cars and trucks by 2035 and sell only zero-emission vehicles.

This is a major shift in policy for one of the world’s largest automakers, which today makes billions of dollars from gas-intensive pickup trucks and SUVs.

GM’s announcement will likely prompt automakers around the world to make similar commitments.

The company explained that the switch to electric vehicles is part of a larger plan to achieve carbon neutrality by 2040.

“General Motors joins governments and companies from around the world in working toward a safer, greener world,” said GM Chairman and CEO Mary Barra.

“We encourage others to follow our lead and make significant contributions to our industry and the economy as a whole,” she added.

The company sold 2.55 million vehicles in the United States last year, but only about 20,000 of those were electric cars, the Chevy Bolt.

In November, the company said it would invest $27 billion in electric and autonomous vehicles over the next five years. Before the coronavirus pandemic, it was planning to spend $20 billion on that.