From CNBC: 2024-09-23 09:00:01

General Motors, led by CEO Mary Barra, faces challenges in catching up to Tesla in EV sales. Despite slower-than-expected adoption and production issues, GM sees growth with a diverse lineup of EVs. With nearly 21,000 EVs sold in July and August, GM’s sales increased by 70% YoY. They are confident in a strong finish for 2025.

GM’s EV lineup includes eight Ultium-based models, ranging from $35,000 to over $300,000, competing with Tesla and Hyundai/Kia. They aim to increase sales but face pressure to meet consumer demand as EVs become more dominant. Despite lower profitability, GM expects EVs to be profitable once production reaches 200,000 units.

CEO Barra’s goal for GM to exclusively offer all-electric vehicles by 2035 remains unchanged. The company withdrew some previous targets but maintains a goal of producing 200,000 to 250,000 EVs this year. GM plans to adjust production based on customer demand and continues to invest in EVs for future growth.



Read more at CNBC: GM’s EV sales momentum is finally building