Nov 07 2020
General Motors is Expanding Truck Production to Help Finance the Development of New Electric Vehicles
As US automaker General Motors prepares to power its model range over the next several years, the company plans to increase capital spending over the next three years to accelerate development of battery-powered cars, the director said Thursday. executive Mary Barra. Building on strong truck and sport utility vehicle sales in North America, GM will increase annual capex until at least 2023 to fund accelerated EV plans. General Motors said it would generate cash flows of between $ 7 billion and $ 9 billion during the second half of the year, as sales in its two largest markets recovered faster than expected during the global coronavirus pandemic.