GM to boost electric, autonomous investment by $7bn

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General Motors said Thursday it will boost investment in electric and autonomous vehicle technology by $7 billion through mid-decade as it accelerates a technology race with Tesla and other automak...

General Motors said Thursday it will boost investment in electric and autonomous vehicle technology by $7 billion through mid-decade as it accelerates a technology race with Tesla and other automakers.

“We are transitioning to an all-electric portfolio from a position of strength and we’re focused on growth.” The boost to capital spending follows an unveiling of the all-electric Hummer truck last month and a series of announcements on building new electric auto manufacturing capacity, including the revamping of older plants.

The growth of the industry partly depends on construction of more electric-auto charging stations in the coming years. There are currently 28,165 stations in the United States compared with 168,000 gas stations in the US, according to federal data.

 

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