GM will announced boosting investment for EVs

General Motors Co will roll out details of an expanded and accelerated electric vehicle strategy in an effort to convince investors it can be a serious competitor to Tesla Inc, people familiar with the plans said.

GM Chief Executive Mary Barra, who is scheduled to speak at a conference hosted by Barclays, is expected to say the automaker is ready to spend more on electric models by 2025 than the $20 billion previously outlined, the sources said.

Supplier sources said previous plans to make the Cadillac brand all electric by 2030 are being sped up, possibly to 2025, and other sources said that acceleration will be repeated in other brands and in segments such as commercial vans.

The Detroit automaker is also expected to discuss a new timeline for many of the EVs to follow those already identified, such as the GMC Hummer EV pick-up and Cadillac Lyriq crossover, people familiar with the plans said.

 

Authors: (Reuters) Ben Klayman, David Shepardson

 

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