General Motors (GM) says it will invest $35 billion in the development of electric and autonomous vehicles, with the goal of becoming "the market leader in EVs in North America."

GM is targeting annual, global EV sales of more than one million by the year 2025.

Mary Barra, the company's CEO, says GM is investing "aggressively in a comprehensive and highly integrated plan to make sure that GM leads in all aspects of the transformation to a more sustainable future."

GM's latest announcement builds on its March 2020 pledge to invest $20 billion in the development of electric and autonomous vehicles through 2025.

"We are increasing our investment to scale faster," says Barra.