GM Chairman and CEO Mary Barra is setting the company on a course to challenge Tesla for EV dominance.General Motors is shifting into overdrive on electric vehicles to carve out a bigger share of that market, with plans for dozens of new models, redeployment of engineers to a dedicated electric vehicle division and committing $27 billion for battery and autonomous technology development to overtake Elon Musk’s Tesla.
“We believe developing EVs is core to growing our business and creating value for shareholders,” Barra said. “We’re committed to fighting for EV market share until we are number one in North America.” Along with electric Hummer and Cadillac models, the company is readying three other GMC models using the Ultium system, including an electric pickup, and four Chevrolet brand EVs, including a pickup and small crossover.