General Motors Co. is increasing its investment in electric vehicles-the second boost in recent months-and pushing deeper into battery production, making it the latest international global automaker to accelerate its transition to plug-cars.The company also raised its guidance for pre-tax profit excluding one-time items for the first half of this year, to between $8.5 billion and $9.5 billion, compared with its prior prediction of $5.5 billion. GM attributed the improved outlook to continue strong in the US vehicle market and progress combating the semiconductor shortage that has stymied global vehicle production this year.GM stated on Wednesday that it will spend $35 billion on electric and autonomous vehicles through 2025, roughly 30% higher than a target set last November. The gain reflects plans to add two more battery factories in the US., joining a plant under construction in Ohio and another slated for Tennessee.Chief Executive Mary Barra stated that GM is moving faster because the company perceives momentum building for electric-vehicle adoption in the US and has seen a positive response to the future models it has displayed.
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