GM plans to invest USD $7B to ramp up electric vehicle and battery capacity, keep up with Tesla

General Motors (GM) said it will invest roughly $6.6 billion in its home state of Michigan through 2024 to increase electric pickup-truck production and build a new EV battery cell plant.

The new spending is part of a plan to increase GM’s North American production capacity to build 1 million electric vehicles by 2025.

GM has projected it will sell more than 1 million EVs globally by mid-decade and overtake Tesla as the top US-based seller of electric vehicles during that time frame.

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