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Cadillac cuts dealers not ready for EV push

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General Motors' Cadillac brand is slimming down on dealers that are not ready for the company's electric vehicle push.

The company expects to have 560 dealers by the end of the year, down from 920 three years ago.

Cadillac has been weeding out dealers that weren't prepared to invest up to $500,000 per store to support the brand's shift to an all-electric vehicle lineup. Cadillac has set a 2030 goal for the plans.

Read more from Reuters.

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