General Motors’ electric-vehicle backed by hedge fund

General Motors is planning for autos to be fully electric is based upon plans to electrify its vehicle lineup after the famous U. S. company won the support of an impact investment group.
The hedge fund Engine No. 1, which was announced in January when it won three seats on Exxon Mobil’s board of directors by convincing big investors that the oil giant lacked a clean energy strategy, has taken a stake in the automaker.
“GM’s goal to go 100% electric by 2035 signals one of the largest transformations in the history of the auto industry and creates an opportunity to recenter the battery supply chain in America,” said Chris James, founder of Engine No. 1. “The company’s early lead on batter technology, along with Mary Barra and the board’s leadership, creates tremendous advantages”, added James.
General Motors earlier this year announced plans to launch 30 all electric models by 2025 and to have a fully electric fleet of light duty vehicles by 2035 and medium and heavy duty trucks by 2040.