General Motors has just ended its biggest strike in 50 years. The American Auto Workers Union UAW announced that it has voted for a four-year new labor contract with General Motors and ended the strike.
The US Department of Labor said the strike had caused GM to lose more than $2 billion. Timg General Motors CEO Mary Barra said the company expects to invest more in electric vehicles than the fuel vehicle in the next five years. Barra made the remarks when answering an analyst's question at the GM earnings conference call.
She said that the research and development and capital expenditures of electric vehicles may be more in the next five years. The labor required for electric vehicles may be "slightly less" than fuel vehicles. Previously, the American Automobile Workers' Federation (UAW) expressed concern that the larger market share of electric vehicles would lead to layoffs.
But Barra stressed that by the 1930s, fuel vehicles will still account for a large proportion of sales in the United States. She added that the company's engine and transmission plant will not be threatened because electric vehicles also require parts.
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