General Motors CEO Mary Barra says that by the middle of this decade, her company will sell more electric vehicles in the U.S. than Tesla.
EVs, an upcoming electric Silverado pickup and a Cadillac luxury SUV in taking on Tesla. And Barra said there’s more to come on the way to offering 30 battery-powered vehicles globally by 2025. “What we have coming, it’s in the heart of the market,” she said.Model 3Barra is hoping to keep prices relatively low, banking on chemistry breakthroughs to cut battery costs, offsetting huge price increases for Lithium and other key elements that make batteries work.
But Barra also has to manage the finances, keeping the profits flowing from gasoline vehicles to pay for battery development — even though GM currently can’t run its factories flat-out due to the. And at some point, money from gas vehicles will decline, so the EVs have to be profitable almost from the start.
She said she expects parts and chip shortages will last into next year, with coronavirus outbreaks continuing to crimp the flow. That standardization will give GM the scale to buy in bulk and make sure supplies don’t get interrupted in the future, Barra said: “We’re also working with a select group of strategic companies to source these for the volumes. We’ll have much better control and a stable supply.”
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