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GM will begin tying government compensation to electrical car targets

Normal Motors Chairwoman and Chief Government Officer Mary Barra speaks throughout a gathering hosted by U.S. President Joe Biden with non-public sector CEOs to debate the Construct Again Higher agenda on the White Home in Washington, U.S., January 26, 2022.

Kevin Lamarque | Reuters

DETROIT – General Motors will start tying a “important half” of its long-term government compensation with the corporate’s electrical car targets, CEO Mary Barra mentioned Tuesday.

Beginning this 12 months, Barra mentioned the compensation targets will embody volumes of EVs in North America in addition to launch timing and high quality for such autos.

“At GM, our compensation has all the time been pushed by the corporate’s success. And nobody ought to doubt our dedication to steer in EVs or the eagerness our group has for that mission,” Barra mentioned throughout the firm’s first-quarter earnings call.

The Detroit automaker has confronted elevated stress from Wall Road to transition to electrical autos within the wake of business chief Tesla’s rise to turn into the top-valued automaker at a market cap of greater than $900 billion.

Barra mentioned the brand new compensation benchmarks are supposed to underscore the corporate’s dedication to EVs. Additional particulars concerning the EV compensation targets are anticipated within the firm’s upcoming proxy submitting, which Barra mentioned can be filed Friday.

In 2020, Barra’s compensation bundle was $23.7 million, together with a base wage of about $2 million and inventory awards of $13 million.

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