General Motors Wants to Build As Many EVs as Tesla (It’s Going to Take Some Time)

It’s seemingly the only race that matters right now.

The rush to electrify one’s fleet is almost palpable in America. The trend continues to dominate headlines.

And legacy automaker General Motors (GM) – Get General Motors Company Report is trying every possible course of action in order to achieve its targets.

GM also recently got acknowledged for its ambitious electric vehicle goals in President Joe Biden’s State of the Union address, last week, along with rival Ford (F).

“GM is making the largest investment in its history — $7 billion to build electric vehicles, creating 4,000 jobs in Michigan,” Biden noted in his first State of the Union address on March 1.

The two companies were lauded for their efforts toward job creation and their stellar investments meant to boost the U.S. economy, which may slip into a slowdown due to rising inflation and the fallout of Russia’s invasion of Ukraine that will enter its second week on Thursday.