TOLEDO, Ohio/WASHINGTON, Sept 23 (Reuters) - General Motors Co (GM.N) said on Friday it will invest $760 million at its Toledo, Ohio factory to build drive units for electric trucks, the automaker's first U.S. powertrain facility repurposed for EV-related production.

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Electric vehicle sales are on course to hit an all-time high this year, but more work is needed in other sectors to put the planet on course for net-zero emissions by 2050, according to the International Energy Agency.

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LAST MONTH, CALIFORNIA finalized a rule that will ban the sale of new gas-powered cars, starting in 2035. Obviously, that’ll accelerate the adoption of electric vehicles and encourage other states to do the same. (Oregon has already followed California’s lead.) But less obviously, spurning carbon-spewing vehicles could help buttress the United States’ ancient, creaky electrical grids.

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The Biden-Harris Administration today announced more than two-thirds of Electric Vehicle (EV) Infrastructure Deployment Plans from states, the District of Columbia and Puerto Rico have been approved ahead of schedule under the National Electric Vehicle Infrastructure (NEVI) Formula Program, established and funded by President Biden’s Bipartisan Infrastructure Law. With this early approval, these states can now unlock more than $900 million in NEVI formula funding from FY22 and FY23 to help build EV chargers across approximately 53,000 miles of highway across the country. The NEVI formula...Read More