General Motors (GM) says it will invest $35 billion in the development of electric and autonomous vehicles, with the goal of becoming "the market leader in EVs in North America."
The announcement builds on GM's March 2020 pledge to invest $20 billion in electric and autonomous vehicle development through the year 2025.
GM CEO Mary Barra says the auto manufacturer is "investing aggressively in a comprehensive and highly integrated plan to make sure that GM leads in all aspects of the transformation to a more sustainable future."
GM is targeting global, annual EV sales of more than one million by the year 2025.
"And we are increasing our investment to scale faster," says Barra.
