The daily business briefing: October 3, 2017

GM commits to "all-electric future," Tesla falls short of Model 3 production goal, and more

A Tesla showroom in California
(Image credit: Getty Images)

1. GM plans new electric vehicles in push for 'all-electric' future

General Motors announced Monday that it was working toward an "all-electric" vehicle lineup. "Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles through no-compromise solutions that meet our customers' needs," said Mark Reuss, General Motors executive vice president of product development, purchasing, and supply chain, at a media event at the company's Warren, Michigan, technical campus. The automaker said it was immediately accelerating development of electric vehicles on the way to introducing two new all-electric vehicles in the next months, and at least 20 by 2023.

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