DETROIT – Basic Motors will start tying a “vital half” of its long-term government compensation with the corporate’s electrical car objectives, CEO Mary Barra mentioned Tuesday.
Beginning this yr, Barra mentioned the compensation targets will embody volumes of EVs in North America in addition to launch timing and high quality for such autos.
GM plans to extend its manufacturing of electrical autos to 2 million in North America and China by 2025, because it strikes to solely promote EVs by 2035. The corporate has additionally mentioned it plans to develop into the top-selling automaker of EVs, surpassing Tesla, by mid-decade.
“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 fervour our crew has for that mission,” Barra mentioned throughout the firm’s first-quarter earnings name.
The Detroit automaker has confronted elevated stress from Wall Avenue to transition to electrical autos within the wake of business chief Tesla’s rise to develop 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 in regards to the EV compensation targets are anticipated within the firm’s upcoming proxy submitting, which Barra mentioned shall 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.