GM to invest $35 billion in electric cars

RIYADH: US automotive company General Motors plans to invest $35 billion on manufacturing a new portfolio of electric cars using battery platform Ultium, Arab News quoted the company’s president as saying.

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.

Also Read

Singapore suspends crypto exchange Bitget

RIYADH: The regulator in Singapore has suspended Bitget, a crypto exchange that...