GM Giving Tesla a Run for Its Money After Promising Electric Vehicles that Turn a Profit by 2021

GM Giving Tesla a Run for Its Money After Promising Electric Vehicles that Turn a Profit by 2021
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Chief Executive of General Motors Mary Barra recently announced to investors that a new range of electric vehicles in 2021, that will be cheaper to build, and are expected to earn maximum profits for the U.S. to take the country at No. 1 for auto making.

The company has also mentioned that this next generation of electric vehicles will be 30% cheaper.
CEO Mary Barra mentioned the cars will reduce battery cell cost from $145 per kilowatt hour of electricity to below $100, with the same range of around 300 miles.

She also said that GM is evolving a new manufacturing platform for electric vehicles.

“This will launch in 2021 and support multiple brands and multiple segments,” she said in the presentation. “At General Motors, we are very much dedicated to leading in battery technology as well as electric vehicles. So, this all new EV platform, one of the things we’ll be doing is structurally integrating the batteries into the architecture that will allow us to take out cost and gives us a better flexibility from a design perspective.”

These strategies would directly affect electric vehicle specialist Tesla Inc. When the Model 3 went onto the market, it marked the biggest quarterly loss for the company.

“We are committed to a future electric vehicle portfolio that will be profitable,” Barra said at the Barclays Global Automotive Conference in New York. “GM is looking to break out of that pattern by developing an all-new electric vehicle platform that will accommodate multiple sizes and segments, to be sold by different GM brands in the United States and China.”

GM is also planning to introduce 20 new electric vehicles by 2023, but they haven’t disclosed any information. On the other hand, Ford wants to introduce 13 hybrid gasoline-electric models by 2022. Tesla recently debuted its new all-electric truck.


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Aparna Nayak
Aparna Nayak
I have been writing for more than 10 years because of my passion for writing, reading, and sharing it with worldwide audiences. I have published and edited many research papers and white papers in various national and international journals across the internet. I am a writer, technology enthusiast, and social media lover who runs my own blogs and websites.

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