GM to build electric Chevy Silverado pickup in Detroit

Details: The new electric Silverado will be designed from the ground up as an EV and will provide 400 miles of battery driving range, GM said in a virtual announcement Tuesday.

• The vehicle is based on GM's new modular Ultium battery platform, which will be the basis for 30 EVs globally by the end of 2025.
• GM says the Ultium platform, along with new virtual development tools and technology, has shortened vehicle development times by nearly 50% to just 26 months.
• The electric Silverado will be built alongside the two electric Hummer trucks, and the Cruise Origin robotaxi. Factory ZERO will begin production later this year, starting with the Hummer EV pickup.

The big picture: GM is investing $27 billion in EV and autonomous vehicle development.

• Ford is also investing heavily in electrification, with plans to spend $22 billion through 2025. Its Mustang Mach-E crossover is already on sale, with a new electric F-150 coming in 2022.