In a post on LinkedIn in January 2021, General Motors CEO Mary Barra announced that the company was taking steps toward what it called "an equitable and inclusive transition to a net-zero-carbon future."
This transition included plans to "remove emissions from all our products, including every vehicle we produce, and all of our global operations in the next twenty years."
But as one of the most prominent manufacturers of V8-powered pickup trucks and full-size SUVs, Barra noted that the company will utilize carbon credits or carbon capture "where removing emissions is not possible," including instances where certain technologies have yet to be developed.
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Additionally, as part of that plan, the automaker made a loose commitment to ceasing sales of gas-powered vehicles by 2035, noting that it has worked with the Environmental Defense Fund (EDF) on a "shared vision of an all-electric future and an aspiration to eliminate tailpipe emissions from new light-duty vehicles by 2035."
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"[...]while the challenges ahead may be difficult, they are not insurmountable," Barra said. "We have the will and determination to succeed and General Motors intends to both play our part and lead the way."
In an October 2024 interview with The New York Times, Barra noted that although many buyers who would opt for EVs are buying hybrids, the automaker is still determined to meet its 2035 goal.
“That is the plan we’re still executing,” she told the Times.
Chevrolet
Hybrid may be erased from the picture, GM exec says
In response to the consumer and regulatory environment that GM is facing regarding EVs, Barra told analysts in January 2024 that the automaker is planning to bring plug-in hybrids to the U.S. market, noting that it was "timing the launches to help us comply with the more stringent fuel economy and tailpipe emission standards" set by the Biden Administration.
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In a May interview with The Detroit News, the GM CEO noted that said plug-ins will arrive in 2027, stating that such vehicles "will be part of the solution" for as long as the development of a robust charging infrastructure continues to lag.
"[...]plug-in hybrids are an important part of meeting the regulatory space and giving consumers more options," Barra said. "As the regulatory space evolved, it made sense for us to assess our strategy."
However, as the man behind the desk in the Oval Office is set to change on January 20, so may GM's plans to bring hybrids to American shores.
During remarks at the UBS Global Industrials and Transportation Conference in Manalapan, Florida, General Motors CFO Paul Jacobson revealed that the company still wants to keep its plans for EVs but noted that if regulations are eased during Trump's second term in the White House, plug-in hybrids for 2027 may be on the chopping block.
“In a world where compliance is eased, you could see where you don’t necessarily need as much plug-in, you might not need as much (battery electric vehicles) as well,” Jacobson said. “But we’ll cross that bridge.”
On the evening of November 19, sources close to Trump’s transition team who talked to Reuters reported that the incoming Trump administration could roll back the Biden-era corporate average fuel economy standards (CAFE standards), which would require passenger cars and light trucks across the industry to hit as high as 50.4 miles per gallon by 2031.
In essence, if Trump is good on his word, GM will take advantage of the "easier" rules.
“We’ve always said that the plug-in hybrids were really ... an option for compliance with regulatory standards," Jacobson said. "So in the event that those change and you don’t need that or they’re lessened, then maybe that could be something we could look at: Getting down some of those models."
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Jacobson defended his stance by noting that many of GM's current diesel-fueled pickup trucks and SUVs get better mileage than hybrid versions of its competitors.
GM's competitors are taking advantage of the hybrid 'fad'
Though General Motors CFO sees plug-in hybrids as a stop-gap for compliance, recent sales figures show that some of GM's competitors are taking full advantage of the hybrid "fad" they see in front of them.
According to recently released sales data, Ford (F) , its cross-town rival in Dearborn, has been doing well with hybrids.
Hybrid vehicle sales across its Ford and Lincoln brands were up 18.5% in November 2024, representing a 42% year-to-date gain.
As per The Detroit News, sales of the hybrid version of its F-150 pickup truck are up 52% from last November, while the hybrid version of its compact Maverick pickup are up 36% compared to the previous year.
General Motors trades on the New York Stock Exchange under the ticker GM.
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