General Motors (GM), the largest automobile corporation in the United States and once in the world, is going to start making money on its electric vehicles by the end of this year, strictly on schedule, said the head of the automaker, Mary Barra. It also confirmed plans to reduce sales of gasoline cars by 2035 and become a carbon-neutral company by 2040.
The head of General Motors announced overcoming the crisis and maintaining plans for electric cars
Author: Ekaterina Alipova
If GM does start turning a profit from sales of battery-powered vehicles, the company will become the second American automaker after Tesla to do so. reminds The New York Times.
GM’s electric vehicle sales really picked up toward the end of the year. And we can expect further growth with a new model priced under $30,000 with tax credits: the Chevy Equinox.
The Chevy Equinox and Blazer EV are the models that qualify for government tax credits of up to $7,500 (vehicles must be American-made). The automaker is betting heavily on this program, because the high cost of electric cars for consumers is the main obstacle to the development of this area.
Another problem – disruptions in the supply chain in 2023 – is practically solved, according to Mary Barra. In addition, GM intends to open a new battery development center by 2027 in Michigan and is building new battery production plants: one with Samsung SDI worth $3.5 billion in Indiana, another with LG in Michigan.
GM will also receive about $800 million in government subsidies to produce electric vehicle batteries in the U.S. thanks to the Inflation Relief Act, according to The New York Times. Plus, the company plans to reduce battery costs by introducing cheaper lithium iron phosphate (LFP) solutions into future electric vehicles, as Tesla and Ford are already doing.
Tesla now sells the most electric vehicles in the US – and even makes a profit on them as of 2021 – but this comes at the expense of the most extensive network of charging stations. GM can now access it using an optional NACS-CCS adapter, and is also investing in its own charging stations with partner EVgo.
The country’s second-largest electric vehicle maker, Ford, is also still not making a profit on them, and Rivian and Lucid are hanging on only thanks to outside investors.
Cover photo: Unsplash
Source: rb.ru
