A Chevy Bolt. Photo: Jim Watson/AFP/Getty Images

General Motors is overhauling its electric vehicle management with several internal moves as the automaker works to have 20 EV models launched worldwide by 2023.

Why it matters: The moves signal increased focus on EVs by major automakers — even though they hold only a tiny share of the market today.

Driving the news: Pam Fletcher will take the newly created position of VP for innovation that reports directly to CEO Mary Barra, GM said. She's currently the VP of global electric vehicle programs.

  • Doug Parks, who is the VP for autonomous and electric vehicle programs, "will also assume primary responsibility for the growing global electric vehicle team," GM tells Axios.
  • And Mike Ableson, who is currently VP for global strategy, will become VP for electric vehicle charging and infrastructure, reporting to Parks in the newly created role.
  • The changes were first reported by Automotive News.

The details: Parks, in a statement, said Ableson will "develop the partnerships, incentives and investments needed to create the necessary electric vehicle charging infrastructure to remove a critical barrier to acceptance of electrification."

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Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

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In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.

Mergers and acquisitions make a comeback

Illustration: Sarah Grillo/Axios

A slew of high-profile headlines led by Microsoft's expected acquisition of social media video app TikTok helped bring the Nasdaq to another record high on Monday.

Why it matters: The mergers-and-acquisitions market looks like it's bouncing back, joining the revived credit and equity markets as well as the market for new public companies through IPOs and special purpose acquisition companies (SPACs).