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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."
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Go deeper

Congress begins yearend sprint

Illustration: Sarah Grillo/Axios

The House and Senate face an onslaught of deadlines key to fulfilling members' campaign promises and keeping the government afloat as they return from recess this week.

Why it matters: The next few weeks will be pivotal to enacting President Biden's agenda — and determining how the Democratic Party fares in the midterm elections.

Updated 4 hours ago - World

Up to 17 U.S. missionaries kidnapped in Haiti

Haitian soldiers guard the public prosecutor's office in Port-au-Prince this month. Photo: Richard Pierrin/AFP via Getty Images

Children were among up to 17 American Christian missionaries and their relatives kidnapped by a gang in Haiti on Saturday, the New York Times first reported.

The latest: Haitian police inspector Frantz Champagne identified the 400 Mawozo gang as the group responsible, in a statement to AP.

Hollywood union reaches deal with studios to avert strike

Photo: AaronP/Bauer-Griffin/GC Images

A Hollywood workers' union reached a tentative deal with studios, networks and streamers that will guarantee better working conditions, meal breaks and increased wages for low-paid workers, the International Alliance of Theatrical Stage Employees (IATSE) announced Saturday night.

Why it matters: The deal, which still needs to be ratified by IATSE members, will avert a nationwide strike by film and television workers that was set to start Monday. It would have been the first strike in the union's 128-year history.