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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

Vaccinations, relief timing dominate Sweet 16 call

Sen. Joe Manchin (D-W.V.) speaks during a news conference in December with a group of bipartisan lawmakers. Photo: Caroline Brehman/CQ-Roll Call, Inc via Getty Images

Vaccine distribution, pandemic data and a cross-party comity dominated today's virtual meeting between White House officials and a bipartisan group of 16 senators, Senator Angus King told Axios.

Why it matters: Given Democrats' razor-thin majority in both chambers of Congress, President Biden will have to rely heavily on this group of centrist lawmakers — dubbed the "Sweet 16" — to pass any substantial legislation.

Progressives pressure Schumer to end filibuster

Senate Majority Leader Chuck Schumer. Photo: Win McNamee / Getty Images

A progressive coalition is pressuring Chuck Schumer on his home turf by running a digital billboard in Times Square urging the new majority leader to end the Senate filibuster.

Why it matters: Schumer is up for re-election in 2o22 and could face a challenger, and he's also spearheading his party's broader effort to hold onto its narrow congressional majorities.

4 hours ago - Health

U.S. surpasses 25 million COVID cases

A mass COVID-19 vaccination site at Dodger Stadium on Jan. 22 in Los Angeles, California. Photo: Mario Tama/Getty Images

The U.S has confirmed more than 25 million coronavirus cases, per Johns Hopkins data updated on Sunday.

The big picture: President Biden has said he expects the country's death toll to exceed 500,000 people by next month, as the rate of deaths due to the virus continues to escalate.