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Traditional automakers are transforming their business models to adapt to an all-electric future.
General Motors Company (NYSE: GM) increased its investment to have a zero tailpipe emission line-up by 2035 with plans to invest $7 billion in electric and autonomous vehicles this year and $27 billion by 2025.
Ford Motor Company (NYSE: F) will be more than doubling its EV investment by 2025 with $22 billion designated for electric vehicles and $7 billion for autonomous vehicles. The biggest obstacle to electric cars was that they cost much more to build than conventional models. However, the high costs aren t stopping anyone, even smaller players who are going full speed ahead as they try to adapt to an electric future.