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DETROIT/WASHINGTON - General Motors Co expects to spend more on developing and selling electric vehicles than gasoline-powered cars over the next five years, Chief Executive Mary Barra said on Tuesday.
She also said EVs will require “somewhat less” labor than gas-powered cars. The United Auto Workers union, which just ratified a new four-year labor deal with the Detroit automaker, has expressed concern about U.S. employment levels in the future as EVs make up a larger share of the market. Barra also said the new UAW labor deal does not limit how many EVs the company can build. GM plans to invest $3 billion in its Detroit-Hamtramck plant to build electric trucks and vans and battery modules, according to a letter it sent to the UAW this month as part of contract talks.
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