General Motors is preparing an electric car offensive in China with over 40% of its new launches in the country during the next five years set to be electric vehicles (EVs), the U.S. automaker said on Wednesday.
The electric vehicles of the automaker, many of which will be all-electric battery cars, will be produced in China with nearly all parts coming from local suppliers, the company stated at its Tech Day event in Shanghai.
Reuters reported before on Wednesday that the automaker was planning to overhaul its Chinese line-up to stem a slide of sales after over two decades of growth in a country that contributes almost a fifth of its profit.
GM’s new China boss Julian Blissett informed Reuters that new technologies, such as EVs and cars with near hands-free driving for highways, would play a major role in GM’s China initiatives, which are part of a push to get yearly sales in the country back to the 4 million peak it hit in 2017.
GM did not state in its statement how many new or significantly remodified models it was preparing to launch in China during the next five years.
“China will play a crucial role in making our vision a reality,” GM CEO Mary Barra said in the statement, referring to its initiative to establish what it describes as a future of “zero crashes, zero emissions and zero congestion” through electrification and smart-driving innovations.
GM has said it prepares to invest over $20 billion in electric and automated vehicles worldwide by 2025. It was not clear how much of that investment will be made in China.
