Sep 19, 2019

CEO Mary Barra: GM soon will sell a million electrics a year

Mike Allen, author of AM

Photo: Drew Angerer/Getty Images

GM CEO Mary Barra is willing to bet her company's future on massive investments in electric and self-driving vehicles — even at the expense of its traditional gasoline-powered base, writes Bloomberg Businessweek.

The big picture: "Taking vast resources from businesses that make money and moving them toward businesses that (so far) lose mountains of it is obviously a large and risky bet," according to Bloomberg. However, the biggest challenge for GM will be to get the right timing as it goes full steam on electric vehicles.

What she's saying: She believes GM can soon sell a million electric vehicles each year.

The catch: GM "could be blowing cash for years before there’s any payoff."

  • "If driverless and electric vehicles take off more slowly than Barra expects, then GM will have prematurely jettisoned thousands of skilled veterans and killed off its smaller gasoline models, leaving the company even more vulnerable to a spike in fuel prices than it is now."

Go deeper

Teenager killed after shots fired at protesters in Detroit

Detroit police during protests on Friday night. Photo: Matthew Hatcher/Getty Images

A 19-year-old man was killed on Friday night after shots were fired into a crowd of demonstrators in downtown Detroit who were protesting the death of George Floyd in Minneapolis police custody, per AP.

Details: The teenager was injured when shots were fired from an SUV about 11:30 p.m. and later died in hospital, reports MDN reports, which noted police were still looking for a suspect. Police said officers were not involved in the shooting, according to AP.

Go deeper: In photos: Protesters clash with police nationwide over George Floyd

Updated 4 hours ago - Politics & Policy

In photos: Protesters clash with police nationwide over George Floyd

Police officers grapple with protesters in Atlanta. Photo: Elijah Nouvelage/Getty Images

Police used tear gas, rubber bullets and pepper spray as the protests sparked by the killing of George Floyd spread nationwide on Friday evening.

The big picture: Police responded in force in cities ranging from Atlanta to Des Moines, Houston to Detroit, Milwaukee to D.C. and Denver to Louisville. In Los Angeles, police declared a stretch of downtown off limits, with Oakland issuing a similar warning.

Updated 5 hours ago - Politics & Policy

Supreme Court sides with California on coronavirus worship service rules

The Supreme Court has ruled 5-4, with Chief Justice John Roberts joining the court's liberal justices, to reject a challenge to California's pandemic restrictions on worship services.

Why it matters: This is a setback for those seeking to speed the reopening of houses of worship, including President Trump.