General Motors sets 2040 target date to achieve Global Carbon Neutrality

US and global auto giant General Motors (GM) announced plans to achieve net-zero carbon emissions by 2040, primarily by expanding the production of battery-powered electric vehicles.

"General Motors is committed to reaching carbon neutrality in its global products and operations by 2040, supported by a commitment to science-based targets," a company press release said on Thursday.

The strategy is based on a transition to battery-powered electric vehicles, other zero-emissions vehicle technology, sourcing renewable electricity, and leveraging minimal offsets, the release said.

By 2035, the company plans to eliminate all tailpipe emissions from "new light-duty vehicles," presumably a reference to cars and possibly small trucks, the release also said.

GM said it will offer 30 all-electric models globally by mid-decade and 40 percent of the company's US models offered will be battery electric vehicles by the end of 2025, the release added.

The company said it will invest USD 27 billion in electric and autonomous vehicles in the next five years, an increase from USD 20 billion planned before the onset of the COVID-19 pandemic, according to the release.