A partially assembled 2017 Chevrolet Bolt EV is on the assembly line at GM’s assembly plant in Orion. The company said it would spend $27 billion through 2025 to develop EVs and driverless vehicles.
General Motors Co. is raising its bet on electric cars by more than a third, as it hustles to convince a skeptical Wall Street that it too can be successful in the nascent market.
The nation’s biggest auto maker by sales said Thursday it would spend $27 billion through 2025 to develop electric and driverless vehicles. That is up from a $20 billion figure that GM pegged in March, days before the Covid-19 pandemic forced the industry to shut its North American factories and touched off an industrywide cash crisis.
Electric vehicles today account for only about 2% of global sales for GM and the broader industry….
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