DETROIT—Officials at General Motors Co. announced plans to spend more than $27 billion to roll out 30 new electric vehicles over the next five years.

The company said that during that time, its Ultium battery packs will cost 60 percent less than today’s packs with twice the energy density.

And to counter fears of range anxiety, GM has upped the full-charge maximum range of Ultium-based EVs to 450 miles.

“Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle,” said Mary Barra, GM chair and CEO. “We are transitioning to an all-electric portfolio from a position of strength and we’re focused on growth. We can accelerate our EV plans because we are rapidly building a competitive advantage in batteries, software, vehicle integration, manufacturing and customer experience.”

At the virtual Barclays Global Automotive Conference, Barra and Doug Parks, GM executive vice president of global product development, purchasing and supply chain, shared key elements of GM’s plan, including:

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