GM will start making money on EVs this year, says CEO
The Chevy Equinox is one of the cheapest EVs available. | Photo by Andrew Hawkins / The Verge GM is about to start making money on its electric vehicles by the end of this year, right on schedule, CEO Mary Barra told The New York Times. Barra also told the publication that GM will still phase out the sales of internal combustion engine vehicles by 2035, a goal it set in 2021 alongside a promise to be carbon neutral by 2040. GM faced manufacturing and supply chain issues affecting its battery production in late 2023 that delayed the launch of a bunch of its EV models, but Barra says they are fixed. Right now Tesla sells the most EVs in the US — and has been making a profit on them alone since 2021. The second largest producer of EVs in the country is Ford, but it has been posting more than a billion dollars in losses for the first... Continue reading…
GM is about to start making money on its electric vehicles by the end of this year, right on schedule, CEO Mary Barra told The New York Times. Barra also told the publication that GM will still phase out the sales of internal combustion engine vehicles by 2035, a goal it set in 2021 alongside a promise to be carbon neutral by 2040. GM faced manufacturing and supply chain issues affecting its battery production in late 2023 that delayed the launch of a bunch of its EV models, but Barra says they are fixed.
Right now Tesla sells the most EVs in the US — and has been making a profit on them alone since 2021. The second largest producer of EVs in the country is Ford, but it has been posting more than a billion dollars in losses for the first...
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