DETROIT — General Motors will raise its spending on electric and autonomous vehicles and add two U.S. battery factories as it gambles that consumers will eagerly switch from gasoline to the new technology. The announcements Wednesday came as crosstown rival Ford said its entire Lincoln luxury brand lineup would be electric or gas-electric hybrid by 2030, including four fully electric vehicles. For months, the automakers have been one-upping each other with electric vehicle announcements, which have fueled stock price increases for both companies. GM wouldn’t give details about where it will build the new plants, but Chief Financial Officer Paul Jacobson said they would be similar in size to two factories now under construction in Lordstown, Ohio, and Spring Hill, Tennessee.
General Motors Will Open 2 U.s. Battery Plants To Support Increasing Electric And Autonomous Vehicle Production
TOM KRISHER / AP, Time: Business
Wed, 06/16/2021 - 8:23am
Topics: detroit general motors chief financial officer paul jacobson lordstown ohio spring hill tennessee gm s electric u.s evs chevrolet bolt suv ldquo;the bolts honda liebherr aerospace navistar ford lincoln&rsquo shares gm jacobson jacobson bolt production battery plants vehicles billion company details wednesday gave supply hydrogen factories fuel year technology announcements luxury switch maker fully trading spending companies decade global increase sales build cells spend
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