GM Announces Plan to Beat Tesla

Thursday, 7 October 2021 06:48

By Tami Jeanneret

EV wars underway

Hours after General Motors announced a plan to switch from producing combustion engines to battery power, the automaker's shares dropped by 1.3 per cent.

But the automaker's top managers say the switch will ultimately double G-M's annual revenue by 2030 with an array of new electric vehicles.

The ultimate goal revealed at a media event yesterday is to overtake Tesla as the EV leader in North America.

President Mark Reuss also announcing Chevrolet is preparing to launch an electrified version of the Equinox with a $30,000 U.S. price tag.

More from Local News

Moyer Farms Making $12M Investment

New state-of-the-art facility being built in Lincoln.
Niagara Falls Going Green for St. Patrick's Day

A beloved annual celebration throughout much of the world.
St. Catharines RIDE Campaign

One driver was nabbed for impaired operation of a motor vehicle.
Davies Challenges Gov't on EV Support

Niagara South MP told parliament of problems at 2 Niagara EV plants
Welland's Plan for Hospital Contribution

City council voting for multi-year plan to pay for its $17.8-million portion of South Niagara hospital
New GO Station Coming to Niagara

Metrolinx is working with the region to build one in Grimsby, there will be public consultation on this
Most Serious Collisions in Summer: Region

The region is working on road safety with less money due to no speed cameras
Coach Service Added to Airport

The Niagara airport working with Air Canada and Landline Company for service to Toronto

GM Announces Plan to Beat Tesla

Share

More from Local News