GM Plans $10 Billion Share Repurchase in Bid to Assuage Investors

General Motors plans to sharply increase cash return to shareholders, as Chief Executive Mary Barra seeks to reassure investors about the health of GM’s core car-making business after setbacks in fledgling pursuits like electric and driverless vehicles.

GM on Wednesday outlined plans for an accelerated $10 billion share repurchase for next year, its largest stock buyback in recent memory. The company will fund it in part by freeing up capital previously earmarked for development of EVs and autonomous vehicles, which have been the main pillars of Barra’s growth strategy.