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.

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GM Announces Plan to Beat Tesla

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