General Motors to invest $35bln in electric cars, president says
General Motors will introduce 30 new electric cars by 2025, Steven Kiefer told Al Arabiya
Workers are seen at the assembly line of Baojun E200 electric vehicles (EV) at a plant of SAIC-GM-Wuling, a joint venture among SAIC Motor, General Motors and Liuzhou Wuling Motors Co Ltd, in Qingdao, Shandong province China September 28, 2018. Picture taken September 28, 2018. REUTERS/Stringer
By Staff Writer, Arab News
RIYADH: US automotive company General Motors plans to invest $35 billion on manufacturing a new portfolio of electric cars using battery platform Ultium, the company’s president revealed.
General Motors will introduce 30 new electric cars by 2025, Steven Kiefer told Al Arabiya, adding that many of the new vehicles aim to cater to the Middle Eastern markets’ needs, especially Egypt and North Africa.
The company is also reviewing new partnerships to secure more supply, Kiefer added.
The strategy is expected to secure a long-term supply of electronic chips in a bid to tackle the recent logistics crisis in the sector.
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