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Good Morning San Antonio 4:30a

The KSAT 12 News Team provides a look at local, regional, statewide and national news events and the latest information on local traffic and weather issues.

3 warnings and 3 advisories in effect for 29 regions in the area

See the complete list

LIVE

Good Morning San Antonio 4:30a

3 warnings and 3 advisories in effect for 29 regions in the area

MARY BARRA


GM, LG end plans for fourth U.S. battery cell plant as automaker seeks new partner

GM is expected to continue with its plans to build the plant but is searching for another partner, according to a person familiar with the decision.

cnbc.com

Electric Vehicles Are Bringing Out the Worst in Us

The downside of unleashing heavier, faster cars and SUVs on American streets

theatlantic.com

2022 was a big year for EV battery plants in the U.S. How big? $73 billion big

As the auto industry goes electric, there have been so many massive battery projects announced that it can be hard to keep track of them all. So we added them up for you.

npr.org

Workers at GM joint venture battery plant vote to join UAW

Workers at a General Motors joint venture electric vehicle battery factory in Ohio have voted to join the United Auto Workers union.

Ohio EV factory workers hold vote on unionizing

The election at the plant, owned by GM and LG Electronics, is a major test for the labor movement in the fight against climate change

washingtonpost.com

Here's what America's top CEOs are saying about a possible recession in 2023

The CEOs of JPMorgan, General Motors, Walmart and others are gearing up for a potential economic slowdown in 2023.

cnbc.com

GM continues to evaluate Twitter advertising suspension following Musk takeover

Mary Barra said GM's decision to suspend advertising on Twitter was influenced by the fact that Musk's electric vehicle company, Tesla, is a competitor.

cnbc.com

GM CEO Barra says electric vehicles to be profitable by 2025

General Motors expects its portfolio of electric vehicles to turn a profit in North America by 2025.

Wall Street wants updates on EVs and short-term guidance from GM's investor day

The event will focus on General Motors' plans through 2025, including "rapid scaling" of its new EVs and "Ultifi" software initiatives.

cnbc.com

Ford vs. GM: Same Industry, two increasingly different companies

The investment cases for Ford and General Motors are increasingly diverging around electric and autonomous vehicles.

cnbc.com

Bidenโ€™s final week of campaigning plagued with gaffes: โ€˜Whatโ€™s his name?โ€™

President Biden's final campaign push included several incorrect assertions and verbal gaffes as he visited largely blue states amid an expected loss for his party.

foxnews.com

GM sidesteps economic headwinds; Q3 profit jumps nearly 37%

General Motorsโ€™ third-quarter net profit rose 36.6% as vehicle sales began to rebound from persistent parts supply chain troubles.

GM delays return-to-office mandate after employee backlash

The company on Friday said corporate workers would be required to return to physical locations at least three days a week, beginning later this year.

cnbc.com

GM spending $760M to convert Toledo factory to make EV parts

General Motors says it will spend $760 million to renovate its transmission factory in Toledo, Ohio, so it can build drive lines for electric vehicles.

General Motors CEO reveals new electric vehicle

By 2040, General Motors plans on going completely carbon neutral.

cbsnews.com

GM is betting on its electric Equinox, starting at $30,000, to kick-start 'massive adoption' of EVs

The all-electric Chevrolet Equinox EV is scheduled to go on sale in the U.S. next fall, starting at around $30,000.

cnbc.com

Cheaper electric vehicles coming despite high battery costs

Auto companies are rolling out more affordable electric vehicles that should widen their appeal to a larger group of buyers.

GM venture starts building battery cells at new Ohio factory

General Motors says a new electric vehicle battery plant built in Ohio has started producing cells, which could help customers get federal tax credits.

GM to reinstate quarterly dividend and increase share buyback program to $5 billion

GM is reinstating a quarterly cash dividend for shareholders and increasing the size of its opportunistic share repurchases to $5 billion of common stock.

cnbc.com

The Federal Reserve Will Once Again Begin Raising Interest Rates

To ease inflation for Americans, the Federal Reserve will once again raise interest rates.

newsy.com

Hobbled by chip, other shortages, GM profit slides 40% in Q2

General Motorsโ€™ second-quarter net income fell 40% from a year ago as computer chip and parts shortages hobbled factory output and caused the companyโ€™s U.S. sales to fall more than 15%.

General Motors is about to report second-quarter earnings

Like other global automakers, GM has been working through supply-chain disruptions for the last several quarters

cnbc.com

GM is far behind Tesla in electric vehicle sales. CEO Mary Barra has bet the company that will change

CEO Mary Barra is betting that the electric vehicle platform GM unveiled five years ago will soon help the legacy automaker top its rivals on electric vehicles.

cnbc.com

Automakers targeting average households with new crop of EVs

In their first rollouts of electric vehicles, Americaโ€™s automakers targeted people who value short-range economy cars.

GM CEO Barra says headquarters to stay in downtown Detroit

General Motors will keep its headquarters in its seven-building office tower complex in downtown Detroit, its CEO says.

GM CEO Barra says headquarters to stay in downtown Detroit

General Motors will keep its headquarters in its seven-building office tower complex in downtown Detroit, its CEO says. Mary Barra, in an interview with The Associated Press, said the automaker's main office will remain in the Renaissance Center, the centerpiece of the city's skyline just across the Detroit River from Canada. โ€œOur headquarters will always be in Detroit, in the RenCen,โ€ she said, using the name given to the complex by locals.

news.yahoo.com

The AP Interview: GM's Barra talks electric vehicles, future

The economy is a bit wobbly, but General Motors CEO Mary Barra isnโ€™t backing off of an audacious prediction: She pledges that by the middle of this decade, her company will sell more electric vehicles in the U.S. than Tesla, the global sales leader.

General Motors is handling production issues on a โ€˜weekly basis,โ€™ CEO Mary Barra says

"This will go into '23. โ€ฆ It's going to take additional capacity," Barra said in an interview on "Mad Money."

cnbc.com

GM warns of manufacturing issues in second quarter but stands by 2022 forecast

Shares of the automaker were down by 2% after briefly being halted during pre-market trading, pending news.

cnbc.com

GM's stock closes below IPO price for first time since October 2020

GM's stock closing below the $33 a share IPO price from November 2010 occurred hours after the company's annual shareholder meeting.

cnbc.com

Automakers ask Congress to lift electric vehicle tax cap

Major automakers are asking Congress to lift the cap on how many people can receive tax credits for buying a hybrid or fully electric vehicle.

Automakers ask Congress to lift electric vehicle tax cap

Major automakers are asking Congress to lift the cap on how many people can receive tax credits for buying a hybrid or fully electric vehicle. In a letter to leaders of the Senate and House of Representatives on Monday, the chief executives of Ford, Toyota, GM and Stellantis asked that tax credits be extended to anyone who seeks to buy a qualified vehicle. Currently the number of tax credits allowed are capped at 200,000 per company.

news.yahoo.com

Pay for female CEOs rose 26% in 2021, but ranks remain small

Pay packages for the women who run S&P 500 companies jumped in 2021 as the economy recovered and stock prices and profits soared.

CEO pay rose 17% in 2021 as profits soared; workers trailed

Pay for CEOs who run the biggest U.S. companies soared 17.1% last year, up to a median of $14.5 million.

GM shares hit new 52-week low following Wells Fargo downgrade

Wells Fargo lowered GM's rating after market close Wednesday to "underweight" and cut the company's price target from $74 a share to $33 a share.

cnbc.com

GM's $2.94B 1Q profit tops Street views, but revenue misses

General Motorsโ€™ net income declined in the first quarter, as the automaker sold fewer cars and trucks worldwide, though higher prices helped boost revenue, especially in North America.

GM will start tying executive compensation to electric vehicle targets

CEO Mary Barra said the new compensation benchmarks are meant to underscore the company's commitment to EVs.

cnbc.com

General Motors now has 140,000 reservations for its electric Chevrolet Silverado pickup, due in 2023

Demand is strong for GM's upcoming rival to Ford's F-150 Lightning, which began production earlier today.

cnbc.com

GM To Offer Electrified Corvette In 2023

An electrified vehicle generally means a gas-electric hybrid or a plug-in rechargeable hybrid.

newsy.com

US electric-vehicle tax credits ending for new Toyota buyers

Toyota customers soon wonโ€™t be able to get U.S. federal tax credits for buying electric or plug-in hybrid vehicles.

GM and Honda to partner on 'affordable' electric vehicles

General Motors and Honda Motor will develop a series of affordable electric vehicles based on a new global architecture.

cnbc.com

GM CEO Mary Barra's two-word dress code still applies

Back when General Motors CEO Mary Barra was an HR executive at the automaker, she revised the dress code from several pages to two words: Dress appropriately.Back then there was some agreement on what that meant.Get market news worthy of your time with Axios Markets. Subscribe for free.Why it matters: Now as people slowly return to the office, there's confusion. Many grew accustomed to elastic waistbands; we haven't buttoned or zipped pants in a while. There are big questions: Are sweatpants OK

news.yahoo.com

GM electric vehicles to power homes in a new California pilot program

The move matches similar capabilities by other automakers, including Ford Motor.

cnbc.com

EXPLAINER: A scarcity of chips feeds frustration, inflation

Even coming off its fastest rate of annual growth in 37 years, the U.S. economy is still bogged down by a persistent shortage of the computer chips essential to the technology that connects, transports, and entertains us.

GM's chip strategy that keeps production running as Ford goes down

GM's leaders told Wall Street it has a strategy this year to protect its production from any semiconductor chip shortfalls.

news.yahoo.com

Key takeaways from GM's Q4 results and 2022 guidance

GM CEO Mary Barra is making it clear that the company is going "full-out" on its plans to profitability expand into EVs to challenge industry leader Tesla.

cnbc.com

What investors should know ahead of GM's fourth-quarter earnings

GM is expected to report a relatively positive fourth-quarter profit after the markets close Tuesday, capping off an unprecedented year of supply chain issues.

cnbc.com

Elon Musk called Biden a 'damp sock puppet in human form' after the president highlighted EV production by GM and Ford โ€” but not Tesla

After Biden lauded EV production by General Motors and Ford, Tesla CEO Elon Musk also ventured, "Starts with a T, Ends with an A, ESL in the middle."

news.yahoo.com

GM CEO Mary Barra takes first autonomous car ride with Cruise: 'It's just surreal'

"It's just surreal," General Motors CEO Mary Barra says while testing one of the company's driverless cars in San Francisco, calling it a highlight of her career.

cnbc.com

Biden gets CEO support for economic agenda

President Joe Biden is getting support from several business leaders on his economic agenda that has stalled in the Senate.

CEO Mary Barra says GM "aggressively moving" on electric vehicles, says automaker could top Tesla

GM is investing nearly $7 billion in Michigan to build a new battery plant and overhaul an existing factory to make electric trucks.

cbsnews.com

GM to spend $6.6 billion on EV plant investments in bid to dethrone Tesla in electric car sales by 2025

GM has said it will sell more than 1 million EVs globally by mid-decade and overtake Tesla as America's top seller of electric vehicles during that time frame.

cnbc.com

GM to spend nearly $7B on EV, battery plants in Michigan

General Motors is making the largest investment in company history in its home state of Michigan, announcing plans to spend nearly $7 billion to convert a factory to make electric pickup trucks and to build a new battery cell plant.

From Silverado EV to electric boats: What investors should know about GM's CES announcements

GM made headlines at CES with announcements of new EVs, progress on autonomous vehicles and thousands of orders for its BrightDrop EV commercial van.

cnbc.com

GM unveils Silverado EV as electric and self-driving vehicles take center stage at CES

Now No. 2 to Toyota in total U.S. vehicle sales, Detroit's biggest automaker is speeding up its shift to electric cars.

cbsnews.com

GM's Barra reveals new self-driving Cadillac concept car, says company plans to offer personal autonomous vehicles by mid-decade

The sleek two-passenger electric vehicle is part of Cadillac's Halo Concept Portfolio.

cnbc.com

Scaled-back CES gadget show returns to Las Vegas Strip

Thousands of people have gathered in Las Vegas for a tech conference thatโ€™s been scaled back because of COVID-19 precautions.

New GM electric truck faces competition and skeptical buyers

Even though the consumer appetite for electric pickup trucks is a bit murky, the competition for buyers just got a whole lot tougher.

GM CEO says making ventilators changed the company culture

The CEO of General Motors says the automaker learned valuable lessons last year when it stepped in to boost emergency production of ventilators to treat severely ill COVID-19 patients.

GM CEO Mary Barra says electric Chevy Silverado will be 'unmatched'

GM is scheduled to unveil the Chevrolet Silverado E at the CES technology conference next month in Las Vegas.

cnbc.com

Rivian IPO proves General Motors is undervalued, says GM CEO Mary Barra

Rivian's stock is indicated to open at $125 a share, a 60% pop from its IPO price of $78 a share and implying a valuation of as much as $106.6 billion.

cnbc.com

Major business groups prepare to fight new Democratic tax proposals for Biden social bill

The Business Roundtable and the U.S. Chamber of Commerce oppose new tax plans proposed by Democrats for President Biden's social spending bill.

cnbc.com

GM can 'absolutely' catch Tesla in EV sales by 2025, says CEO Mary Barra

Barra's comments come weeks after the automaker said it planned to be the leader in EV sales in the U.S., but the company did not release a timeframe to do so.

cnbc.com

Ford, GM profits fall as sales drop due to chip shortage

The global computer chip shortage cut into third-quarter profits at both Ford and crosstown rival General Motors, with both companies having to temporarily close factories, pinching supplies on dealer lots.

Key takeaways from General Motors' investor day

From $280 billion in expected revenue by 2030 to 1 million robotaxis, a look at the most significant figures from General Motors' investor day.

cnbc.com

GM sets to double revenue, lead US in electric vehicle sales

General Motors plans to cash in as the world switches from combustion engines to battery power, promising to double its annual revenue by 2030.

GM says it will double annual revenue by 2030 to $280 billion in digital push to be seen more like Tesla

GM kicks off the first of a two-day investor meeting where it will detail exactly how it will grow revenue and profit margins.

cnbc.com

How GM hopes to woo Wall Street during its two-day investor event

Wall Street is expecting a lot from GM's investor eventย โ€” from specific revenue targets to new details about its electric and autonomous vehicle operations.

cnbc.com

GM to detail significant revenue expansion plans during highly anticipated investor day

GM CEO Mary Barra and other executives will detail plans to expand the company's revenue and earnings during an investor day this week.

cnbc.com

From CVS to Goldman Sachs, FDA move prompts vaccine mandates

From Walt Disney World to Goldman Sachs, a flurry of private and public employers are requiring workers to get vaccinated against COVID-19 after the federal government gave full approval to the Pfizer shot.

Biden to push for electric vehicles to make up 40% or more of U.S. auto sales by 2030

The new target is expected to be supported by companies such as General Motors, Ford Motor, Stellantis and other automakers.

cnbc.com

GM CEO Mary Barra confirms new electric truck and van for commercial customers

GM plans to add a full-size battery electric cargo van for Chevrolet as well as a medium-duty truck for service and utility vehicles.

cnbc.com

GM posts $2.8B profit, but cautious tone sinks share price

General Motors posted a healthy $2.8 billion second-quarter profit Wednesday, but its cautious outlook for the rest of the year spooked investors.

Ford and Argo AI to launch self-driving cars with Lyft by the end of the year

Self-driving rides with safety drivers will roll out this year in Miami by request and next year in Austin.

cnbc.com

Ford and GM replace 'chairman' title with gender-neutral 'chair'

The changes come after large swaths of corporate American have promised to be more inclusive in the wake of the #MeToo movement and George Floyd's murder.

cnbc.com

Eying deal, GM softens on tough standards for car pollution

The nationโ€™s largest automaker says it can support greenhouse gas emissions limits that other car manufacturers negotiated with California โ€” if they are achieved mostly by promoting sales of fully electric vehicles.

Female CEOs saw ranks dwindle in 2020; median pay fell 2%

Most of the women running the biggest U.S. companies saw their pay increase last year, even as the pandemic hammered the economy and many of their businesses.

GM profit surges to $2.98B on sales of higher-margin trucks

General Motorsโ€™ first-quarter net income surged to $2.98 billion as strong U.S. consumer demand and higher prices overcame production cuts brought on by the global shortage of computer chips.

The Latest: New Mexico preparing for 'vaccine hesitancy'

New Mexico health officials say they are preparing to respond to pockets of vaccine hesitancy in some communities as overall interest increases in receiving the vaccine for COVID-19.

Union, automakers headed for fight over battery plant wages

The United Auto Workers union is calling on General Motors to pay full union wages at electric vehicle battery factories, thrusting what was a festering conflict into the spotlight because automakers want to pay less.

GM expands board to 13 with Meg Whitman and NBA's Mark Tatum

General Motors expanded its board of directors to 13, appointing former Hewlett-Packard chief Whitman and NBA executive Mark Tatum effective Thursday, March 25, 2021. Seven of GMs directors are now women, including board chair and Chief Executive Officer Mary Barra, who in 2014 became the first woman to lead a major U.S. automaker. (AP Photo/Richard Drew, File)DETROIT โ€“ General Motors said Thursday that it has expanded its board to 13 members and appointed former Hewlett-Packard chief Meg Whitman and NBA executive Mark Tatum as directors. There has been an acknowledgment in the U.S. and abroad that white men are overrepresented on the boards of major corporations. Women hold 43.8% of the board seats at companies in Franceโ€™s 40 biggest publicly traded companies, the U.K. panel said.

Marriott CEO Sorenson, 62, dies of pancreatic cancer

FILE - In this Dec. 19, 2012, file photo, Marriott CEO Arne Sorenson speaks during a groundbreaking ceremony for a Marriott hotel in Port-au-Prince, Haiti. Sorenson was the third CEO in Marriotts 93-year history, and the first without the Marriott surname. Sorenson reduced his schedule at Marriott this month to pursue a more aggressive cancer treatment. He was first diagnosed with pancreatic cancer in 2019; a recent routine scan had confirmed the cancer had returned, the company said. Sorenson was the first Marriott CEO whose name was not Marriott, and only the third to lead the company in its 93-year history.

Cost of a single Bitcoin exceeds $50,000 for first time

โ€“ The seemingly unstoppable rise of Bitcoin continued Tuesday with the cost of a single unit of the digital currency rising above $50,000 for the first time. Bitcoin is rallying as more companies signal the digital currency could eventually gain widespread acceptance as a means of payment. Some businesses also accept bitcoin, but its popularity has stalled out in recent years. Overstock.com appears to accept Bitcoin for most listings on its website, including cameras, vacuums and clothes. When this bubble bursts and at what price Bitcoin settles at is anyoneโ€™s guess,โ€ Reiners said.

GM's Chevy Bolt SUV joins parade of new US electric vehicles

The Bolt Electric Utility Vehicle will go on sale early this summer as a 2022 model. About 2.5 million electric vehicles were sold worldwide last year. Fully electric vehicles accounted for less than 2% of U.S. new vehicle sales last year, and Americans continue to spend record amounts on larger gas-powered trucks and SUVs. IHS Markit analyst Stephanie Brinley said the new SUV is another step toward wider adoption of fully electric vehicles, but it will take many more. The credit is phased out after manufacturers hit 200,000 in electric vehicle sales, and GM and Tesla have both passed that level.

Autoworkers face uncertain future in an era of electric cars

It also clouded the future for 50,000 GM workers whose skills โ€” and jobs โ€” could become obsolete far sooner than they knew. But President Joe Biden has made the development of a U.S. electric vehicle supply chain a key part of his ambitious plan to create 1 million more auto industry jobs with electric vehicles. The more environmentally focused plants of the future will need fewer workers, mainly because electric vehicles contain 30% to 40% fewer moving parts than petroleum-run vehicles. At the century-old transmission plant in Toledo, GM workers make sophisticated six-, eight-, nine- or 10-speed gearboxes. Eventually, those parts will be replaced by far simpler single-speed drivetrains for electric vehicles.

GM 2020 profit drops, but it makes $6.43B despite pandemic

General Motors net profit fell 4.5% in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly air bag recall. (AP Photo/Richard Drew, File)DETROIT โ€“ General Motors' profit fell 4.5% in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly air bag recall. GM predicted the shortage will cost it $1.5 billion to $2 billion in earnings before taxes this year due to lost production. Still, GM expects pretax income for the year of $10 billion to $11 billion, or $4.50 to $5.25 per share. Of that, $6 billion would go to electric vehicles and $1 billion would go to autonomous, Chief Financial Officer Paul Jacobson said.

5 CES Trends to Watch

FILE - People look at a 145 inch Ultra Large UHD display in the LG booth at the CES tech show, on Jan. 8, 2020, in Las Vegas. CES, the annual gadget show that showcases the buzziest and brightest tech, looks different this year less Vegas glitz, more internet efficiency. Trends to watch reflect the tumultuous year that preceded it. These include COVID-related robots and gadgets, products that make it easier to work from home, more uses for 5G technology, AI infused in everything, and TVs that can bend or even become transparent. On the last day of CES, Samsung will debut its new 5G enabled iteration of its Samsung Galaxy phone โ€” an event that isn't affiliated with CES but still likely to draw buzz.

GM charges up new unit to sell electric delivery vans, gear

This photo provided by General Motors shows EP1 electric pallet. General Motors is forming a new business unit to tap the market for delivery vehicles and equipment powered by electricity. Then GM will roll out a clean electric delivery van. Showing Wall Streetโ€™s fascination with electric vehicles, GM shares rose to their highest intraday price since the company left bankruptcy protection in 2010. GM has pledged to roll out 30 new electric vehicles globally and spend $27 billion developing them by 2025.

GM flips to California's side in pollution fight with Trump

DETROIT โ€“ General Motors is switching sides in the legal fight against California's right to set its own clean-air standards, abandoning the Trump administration as the president's term nears its close. CEO Mary Barra said in a letter Monday to environmental groups that GM will no longer support the Trump administration in its defense against a lawsuit over its efforts against California's standards. Already at least one other large automaker, Toyota, said it may join GM in switching to California's team. About a dozen other states follow California's standards. The Trump administrationโ€™s plan increased fuel economy by 1.5% per year, backing off an earlier proposal to freeze the requirements at 2021 levels.

โ€˜More people may dieโ€™: Biden urges Trump to aid transition

โ€œMore people may die if we donโ€™t coordinate,โ€ Biden told reporters during a news conference Monday in Wilmington, Delaware. The Trump administration is working on its own distribution plan, while Bidenโ€™s chief of staff indicated his transition team will proceed with their own planning separately because of the obstruction. Last week, a larger group of Republicans in Congress called on the Trump administration to allow Biden to begin receiving national security briefings. Since defeating Trump, Biden has devoted most of his public remarks to encouraging Americans to wear masks and embrace social distancing measures. But on whether Biden should receive coronavirus briefings, many of Trump's allies on Capitol Hill remained dug in.

'More people may die': Biden urges Trump to aid transition

โ€œMore people may die if we donโ€™t coordinate,โ€ Biden told reporters during a news conference in Wilmington, Delaware. The Trump administration is working on its own distribution plan, while Bidenโ€™s chief of staff indicated his transition team will proceed with their own planning separately because of the obstruction. Last week, a larger group of Republicans in Congress called on the Trump administration to allow Biden to begin receiving national security briefings. Since defeating Trump, Biden has devoted most of his public remarks to encouraging Americans to wear masks and embrace social distancing measures. But on whether Biden should receive coronavirus briefings, many of Trump's allies on Capitol Hill remained dug in.

Rising star in Detroit departs suddenly for Silicon Valley

The chief financial officer at General Motors, Dhivya Suryadevara, is trading Detroit for Silicon Valley in a surprise departure to join Jack Dorsey's startup, Stripe. She has helped the company strengthen our balance sheet, improve our cost structure, focus on cash generation and drive the right investments for our future. Stripe is maintaining a $2 billion balance sheet, more fortress-like than besieged, as so many major companies have become during the COVID-19 crisis. Adding to Stripes client roster this year alone are the companies Caviar, Coupa, Just Eat, Mattel, NBC, and Paid. I really enjoy leading complex, large-scale businesses and I hope to use my skills to help accelerate Stripes already steep growth trajectory.General Motors named John Stapleton, GM North America chief financial officer, as acting global chief financial officer, effective Saturday.

Plug it in: Electric car charging station numbers are rising

There are now 26,000 electric vehicle charging stations open to the public in the U.S., with more than 84,000 plugs. Currently electric vehicles make up only about 1.3% of total new vehicle sales in the U.S., according to the Edmunds.com auto site. But the bulk of the nations public charging network is much slower. Electrify America now has over 450 charging stations in the U.S. with more than 2,000 fast-charging outlets, Moran said. Guidehouse analyst Sam Abuelsamid said the number of chargers is increasing rapidly and should be enough to meet demand as more electric vehicles are sold.

Europe's shift to electric cars picks up despite recession

The coronavirus has cancelled business plans all over the world but Europe's push into electric cars isn't one of them. Sales of battery-powered and hybrid cars have held up despite a deeply painful recession, mainly thanks to the action of governments. (AP Photo/Jens Meyer, file)FRANKFURT The coronavirus has cancelled business plans all over the world but Europe's push into electric cars isn't one of them. By contrast, electric car adoption is moving more slowly in the U.S. due to regulatory uncertainty. Last year, automakers sold 236,000 fully electric vehicles in the U.S., only 1.3% of the 17.3 million new vehicles that were purchased.

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