Holland Sentinel in Holland, Michigan

GM doubles push on electric cars with new plants and spending

GM plans to raise EV and autonomous vehicle spending to 35 billion dollars for 2020 to 2025 and add two U S battery plants to be built near Lordstown Ohio and Spring Hill Tennessee. The moves come as Ford pledges Lincoln to be electric or hybrid by 2030 and both companies push an EV growth scenario. GM also raises first half earnings guidance to 8.5 to 9.5 billion pretax and 6.2 to 7 billion net income, citing solid demand and chip supply improvements.