GM Says its Electric Vehicles Should Be Profitable as of 2025
• U.S. federal subsidies are key to getting to that point, the company believes.
At the turn of this decade, General Motors CEO Mary Barra was saying that electric vehicles would become profitable for the automaker starting in 2023. The executive returned to the prediction game last week. Barra stated on Friday that the electric vehicles proposed by the General Motors Group will be profitable starting in 2025. That's partly because recently enacted U.S. federal subsidies are closing the profitability gap between electric vehicles and GM's ICE (internal combustion engine( model fleet.
To get to its goals, GM is ramping up electric vehicle production in China, the world's largest market. By 2025, Barra says her company could produce as many as two million electric vehicles worldwide.
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