GM to spend $6.6 billion on EV plant investments in bid to dethrone Tesla in electric car sales by 2025
Publishing timestamp: 2022-01-25 16:00:56
Summary
General Motors to invest $6.6 billion in Michigan by 2024 to increase electric vehicle production, with plans to build 1 million EVs by 2025 and overtake Tesla as top U.S.-based seller of electric vehicles. Investments include new battery plant and conversion of assembly plants to produce electric trucks. GM also plans to convert 50% of its North American assembly capacity to EV production by 2030. President Biden touts GM's investment as part of his administration's strategy to lead the manufacturing future of electric vehicles.
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Keywords: environment, lansing, breaking news: business, mary barra, mark reuss, transportation, autos, business news, tesla inc, general motors co, business, united states,