General Motors to ditch fossil-fuel powered cars by 2035

General Motors (GM), one of the three largest US automakers, plans to produce only electric vehicles by 2035 and achieve carbon-neutral production in five years, Report informs with reference to the Wall Street Journal.

The company is partnering with the Environmental Defense Fund (EDF) to develop a shared vision for an only electric future, aiming to eliminate exhaust emissions from all new passenger cars by 2035.

To achieve its goals, the company will cooperate not only with EDF but with all interested parties to create the necessary infrastructure for charging electric vehicles.

After the announcement, the growth in GM shares' value on the stock exchange amounted to about 4%.

GM manufactures cars and trucks in 30 countries and sells them in 140 countries. The company's headquarters is located in Detroit, Michigan.