Posted May 04, 2018 07:16:51Big Car Shop has made a big bet on its electric cars.

The California-based company, which is also the world’s largest car parts manufacturer, is spending $1 billion to buy and develop electric vehicles.

The investment will pay for about 15,000 electric car batteries and battery packs, and will add about 1,000 new electric vehicle models, according to a statement.

The deal will be announced Tuesday.

The company is the first major automotive company to enter the market for electric vehicles, which have been gaining momentum in the last few years.

Last year, the world saw more than a half-billion electric cars sold.

The car-parts maker also has invested in electric-vehicle maker EV-1 and electric-truck maker Tesla.

The move is part of Big Car’s broader strategy to grow its car-sales business.

The new venture will give Big Car access to an electric-car industry that has not yet been tapped.

Big Car, a maker of small and premium automobiles, had a net loss of $2.1 billion in the fiscal year that ended March 31, 2018, from $7.1 million in the year-ago period, according the company.

The stock jumped 5 percent in premarket trading Wednesday to $18.69.

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