Despite a pandemic that shuttered auto factories for nearly two months and sent car sales tumbling, General Motors made more than $6 billion last year, one of its highest profit totals ever.
The automaker is going to need every penny and more for years to come to meet its lofty ambition of an all-electric model lineup in about 15 years.
Last month G.M. said it hoped to end production of petroleum-powered cars and trucks by 2035. It has also set interim targets of introducing 30 new electric cars and trucks in the next four years, and selling a million of them a year in the United States and a million more in China by 2025 — all at a time when electric vehicles still make up a little more than 4 percent of global auto sales.
The price tag is steep: G.M. plans to spend $27 billion on electric and autonomous cars by 2025, and more than $7 billion just this year.
To make that math work, the company needs to squeeze as much profit as it can out of its pickup trucks and sport-utility…
— to www.nytimes.com