General Motors Co Chief Executive Mary Barra said the Detroit automaker is accelerating an "all out pursuit of global EV leadership," challenging electric vehicle leader Tesla Inc with increased spending and sped-up vehicle production targets.
Shares of Tesla surged 10% to end near a record high on Wednesday, extending a two day rally after it was announced the electric car maker will join the S&P 500.
Electric vehicle startup Rivian, which is backed by Amazon and Ford Motor Co, on Wednesday said it plans to follow up its first two products, a full-size pickup and SUV, with smaller models targeted at China and Europe where it may eventually build some vehicles.
General Motors Co will roll out details of an expanded and accelerated electric vehicle strategy on Thursday in an effort to convince investors it can be a serious competitor to Tesla Inc, people familiar with the plans said.
Adding companies with extremely high stock market values to the S&P 500 is exceedingly rare, and S&P Dow Jones Indices said Tesla's addition will generate a massive amount of trading by index funds.
A group of major U.S. utilities, Tesla, Uber and others said on Tuesday they are launching a new group to lobby for national policies to boost electric vehicle sales
The MINI Vision Urbanaut was designed from the inside out. The designers created the spacious interior experience before developing the exterior, using floor plans, pieces of furniture plus wooden scale models to provide an indication of size.
Codenamed Hyundai AX1, the new micro SUV will spawn petrol and electric versions that will be manufactured in India and will be the automaker's first mass-market electric offering.
