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GM's Electric Vehicles Spending to Increase 35%                                        Source:  Cadillac Lyriq GM Also Increasing Battery Production GM is going full throttle on electric vehicles.  Challenging Tesla's EV leadership, GM just announced it is accelerating planned spending on future EV's to more than $27 billion.  That is 35% more than planned.  And to accommodate the increased production of EV's, it will simultaneously increase its battery production. The announcement was made by GM CEO Mary Barra. Electric Vehicle Push By Global Automakers Last week, Volkswagen announced that it is investing $86 billion in electric vehicle development and production.  Tesla continues to leave the competition behind as it dominates global EV sales.  For GM, CEO Barra plans to offer EV's across the entire product line from vehicles costing less than $30,000 to those costing more than $100,000. GM's EV Sales Targets By 2025, GM wants to sell 1 million EV's a year

One of the World's Largest:  $2.3 Billion EV Battery Plant for Lordstown, Ohio Source:  GM Electric Cadillac GM and South Korea's LG Chem Joint Venture GM and South Korea's LG Chem are investing $2.3 billion to build an electric vehicle battery cell plant in the Lordstown area of Ohio, USA.  The plant will be one of the world's largest EV battery cell producing plants.  GM and LG Chem will break ground for the new facility in mid-2020 and the new plant will create 1100 jobs at the start of operations. The companies say this plant will be flexible enough to respond to rapid changes in EV battery technology needs.  Those needs are accelerating with demand for greater range on less charge times, advancing with electric car technology and they are very expensive. GM CEO Mary Barra's Electric Vehicle Commitment This is a very significant investment.  GM CEO Mary Barra believes that the future of driving is electric.  The lack of lithium-ion bat

Betting Big on Electric Vehicles Driv ing to an All Electric Market Over the next five years, GM CEO Mary Barra expects to spend more money on research, development and selling electric vehicles than gas powered cars.  She also thinks the production of electric cars will be less labor intensive than gas powered vehicles.  GM has 20 electric models in the pipeline that will be on the market in 2023.  Barra believes the future of driving and the future for GM is fully electric. UAW Contract:  No Limits on Electric Vehicles CEO Mary Barra shared her vision of the future of electric vehicles with the Wall Street analyst community.  She forecasts that electric vehicles will start becoming an increasingly larger part of the sales mix by 2030.  Barra just signed a labor contract with the UAW union that is concerned about its membership losing jobs because of the less labor intensive manufacturing of electric vehicles.  However, the new UAW contract does not limit the number of electri