GM's $35B Investment in Electric Future

General Motors (GM) has committed to an all-electric future by investing $35 billion in electric vehicles (EVs) and autonomous vehicles (AVs) by 2025, aiming to phase out internal combustion engines by 2035 and achieve carbon neutrality by 2040. Despite earlier production setbacks, GM's EV sales surged 40% in Q2 2024, driven by the success of its Ultium battery technology. In the realm of electric fleets, startup Synop is innovating with bidirectional charging, enabling vehicles to return power to the grid and potentially earn fleets up to $15,000 per vehicle annually. DTE Energy is proactively upgrading its infrastructure to reduce power outages by 30% and improve reliability by 90% in certain areas through modern technology and equipment. Meanwhile, experts at Nigeria's 96th Power Dialogue emphasized the urgent need for deregulation in the electricity sector to address persistent challenges stemming from outdated infrastructure and inefficiencies. Globally, as the transition to net zero accelerates, the readiness of electricity grids remains a critical issue, particularly contrasting the piecemeal approach in the U.S. with the more integrated systems in Europe.