General Motors will Announce Increased Development Plans for Electric Vehicles

General Motors will reveal details of an expanded and accelerated electric vehicle strategy on Thursday afternoon, in an effort to convince American and international investors that the company can become a powerful competitor to Tesla.

General Motors will reveal details of an expanded and accelerated electric vehicle strategy on Thursday afternoon, in an effort to convince American and international investors that the company can become a powerful competitor to Tesla.

General Motors Executive Mary Barra will reveal the company’s plans during a conference hosted by Barclays.  Barra is expected to say that General Motors is ready to spend more on electric models by the year 2025 than the $20 billion previously outlined.

The American automaker is also expected to discuss a new timeline for many of the electric vehicles to follow those already identified, such as the GMC Hummer EV pick-up and Cadillac Lyriq crossover.

The Lyriq is slated to go into production in the last quarter of 2022, but company officials have been stung by criticism the automaker was bringing the vehicle to market too late.

“The pull-ahead in programs is real and the organization is really doubling down on speeding up product development,” the source told Bloomberg


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