GM EV Business To Be Profitable In 2025, Mary Barra Will Tell Investors36
One of the biggest obstacles to the widespread adoption of electric vehicles (EVs) is profitability. Many (most) automakers, including GM, are currently operating and selling electric-powered vehicles at a loss. However this is expected to change in the near future.
GM CEO Mary Barra is scheduled to speak at GM’s investor day conference on November 17th. During her address, Barra will outline a plan to investors regarding investments into battery plants and assembly, and Ultium battery profit margins, according to a report by Crain’s Detroit Business. Additionally, executives will provide further insight on GM’s plan to increase EV production to become the most profitable EV manufacturer in the nation.
This announcement goes hand-in-hand with GM’s plan to offer 30 EVs by 2025. Currently, The General is playing catch-up to Tesla, which had a major headstart when it comes to developing, producing and ultimately selling EVs. However, GM is expected to catch up and surpass its rival as soon as 2025 due to higher production capacity and a broader vehicle range.
This is promising news, given that GM’s EV investment has yet to pay off as vehicles with internal combustion engines still post higher profit margins then their electric counterparts. GM Chief Financial Officer Paul Jacobson will explain how GM plans to boost power density in the automaker’s Ultium batteries while at the same time removing costs. In fact, the Ultium batteries will be 60 percent less costly than the batteries used in vehicles like the Chevy Bolt. The second generation of the Ultium technology, which GM is already working on, is expected to drop costs another 40 percent while delivering more driving range. The automaker isn’t expected to migrate to second-gen Ultium for several more years.
Aside from EVs, Ultium batteries and profit margins, Barra is also expected to touch on the recent expansion of GM Super Cruise advanced driver assistance system (ADAS), as well as Ultra Cruise. These self driving technologies are currently in the process of being refined and developed to allow drivers more miles of hands-free driving.
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Thats alright Thats ok we will continue to raise prices, especially on full frame vehicles to continue to fund this woke based agenda.
Six woke thumbsdowners already and not a one can comment. P*****
Probably cause their all bots
Ill bite… I think youre pretty bu**hurt for a company making its own choices… You need a safe space, bud?
Atlas / General Motors Truck & Bus Shrugged. It has carried the weight of this company since the 70s. And yet the car clown posse have moved onto pushing their next con – ‘EVs will be profitable, we swear!’
Tell me lies, tell me sweet little lies, tell me lies!
You mean they aren’t profitable already???? How long have we been playing with the bolt 🤪🤪🤪
Wait you mean all the profits are still being generated by ICE. Just wait until the latest round of price increases lands. They will have the ICE vehicles so high priced that the EV’s won’t seem so bad and maybe by that point profits will start to trickle in on the EV’s.
Joe yoman is on the right track , keep pricing the ICE vehicles higher and higher ,that’s their strategy, until the EV prices look like a better deal , I hope this back fires on GM ! In the old days GM built what the consumer wanted but now they build what they want to consumers to have
They build what the government wants consumers to have….fixed it for you.
I’m a racer and a gearhead. I own two GM diesel pickups which I love, and an Impala, and I turn all my own wrenches. My next new vehicle will probably be an EV truck. Nearly 1,000 foot-pounds of torque at zero RPM, no oil changes, no DEF. I can start out every morning with a full tank charging at home for a fraction of what diesel costs, and I can pull a gazillion pounds down the road. Chargers getting built all over the country. You can deny progress, or you can get run over by it. I’m not going back to horse and buggy either. If that’s somehow ‘woke’, don’t tell Elon Musk.
Sam – Progress? Look at a lithium mine? Look how they rape the earth to get it. Also the vehicles that mine lithium and haul it to the factory are all fossil fuel vehicles. This ships that bring it to the states are run by fossil fuel. The electricity you need to charge EV’s are fossil fuel driven. Enjoy using your EV truck to tow your load 80 miles at a time between charges. Your going to spend the majority of your day at the charging station. Luckily you will have plenty of time to post these types of comments about progress on GM Authority while your charging your truck.
Your lack of critical thinking skills is astounding.
Do you realize that getting gasoline also requires doing all of that?
Ha good luck with that. Not only will you be overpaying in excess of 100 grand you will also have stupid small towing range as demonstrated by several outfits like TFL be paying higher insurance rates and will be stuck with a massive bill when those batteries need replacing if you keep it outside of GM’s ever shrinking warranty coverage. But as the saying goes a fool and his money are soon parted!
You can’t start out every day with a full battery charge…. It literally takes 3-5 days to charge these things 😂😂😂😂 now, if you dump 2-5K into a true level 2 charger at your house, more than you’ll pay for DEF and oil for life for your trucks, and yes you are correct on Monday. Tuesday you’ll reach 70-80%, and down as such till the weekend where you’ll stay out to catch back up.
thats not true… but ok
Some of the commenters do not want to accept the fact. In just a few years ICE autos will not be allowed to be sold in many states. When this time comes and GM does not have EV autos to sell, what will these commenters have to say then?
I’ll sooner buy every used gasoline vehicle or buy a Toyota before buying an EV.
So let us get this straight….if I state something wrong please let me know as I am truly interested what you mean by your take.
So you would chose any vehicle from any other Brand if you had to instead of buying a GM EV and supporting the company that you are a fan of correct?
If that is the case then you are basically just an ICE fan and NOT a true GM fan correct?
If you were a GM fan like myself you just want them to be the most successful Company in the Industry so they can be around for another 100 years.
And for them to be around the next 100 years means they need to lead in EV’s….It is really that simple!!!
Funny that many want GM to drop EVs because they aren’t immediately profitable. Those same people want GM to make numerous sedan models and several coupes. Even though they haven’t been profitable.
Just can’t make this stuff up.
Looking forward to seeing the Sierra EV in person.
Sam the average American worker doesn’t have the kind of money it takes to have 1000hp trucks. That’s why most people drive low dollar horse and buggy ICE vehicles.
One can only have what they can afford, that’s why not everyone has a high dollar zip code.
I personally enjoyed my C8 and have worked many years to finally get one and I enjoy doingthe maintenanceon it. Not everyone is so fortunate, unfortunately. EV’s are not for the average American ,only the very well to do that actually want them will have them. I hope you enjoy your new truck when GM can supply you with one.
I see where the Bolt has a $6300 price drop for November 2022 and, if I’m reading the article right, it’s retroactive for any Bolt purchase in 2022 and is configured as a price drop in 2023. No wonder they’re losing $$$…or are they? Is this from the government subsidies that keep such projects afloat? And are they going to keep sending the $$$ once the sale of ICE vehicles are no longer allowed as here in CA?. I live by the mantra “Just follow the money.”
The trouble is all vehicle cost are up with the inflation we are having. Just our gas, food and other expenses.
“We plan to move from losing money on a small number of EV’s to losing more money on over 30 EV’s by 2025! ”
I imagine that date is probably after Mary has taken a golden retirement parachute out of the Ren Cen……
“We’ll make it up in volume” used to be a joke, but apparently yes, that’s the plan.
So many comments and so many that don’t understand just where the auto industry is and what they are facing.
The move to EV in the industry is not a want move but a have to move to survive.
The odds of the laws being rescinded are very slim as the government could care less about what you want to drive.
Just look at their statements on cost and inflation. They said eat more Chef Boyardee.
61 Percent of the people in this country believe in global warming now and it is increasing.
The last election showed they will just keep voting in the same people so no major changes are coming. For Mary not to do what she has done would have been a disaster. Ford delayed and are scrapping for money now. Toyota got a late start and there has been talk the cost will actually hurt them for a while since they were behind.
What I see at GM is while they are promoting the EV models the ICE is still there and they will hold on to it as long as possible, Right now GM is making new EV models like the Blazer that is totally different but the gas model is still there. Same for the Silverado too. The move is very smart as they will have a foot on either side ready to react to the market when ever it changes.
You miss the fact that we live in a federalist country, Canada somewhat as well, and even the EU… well Austria and Poland are very weary of the NGD.
People vote with their feet. If California doesn’t course correct, there won’t be any point selling cars in California. This last midterm also highlighted the opposite. Nobody is going to tell texans and Floridians what to do either it seems. California has already lost about 5% their population in 2 years. They could be halfed by the 2030 deadline.
Yes 60% believe in global warming, but isn’t it in the 30’s who believe it’s a threat? You can believe in global warming without believing it’s destructive.
Ditto cananda. Evidently the new Premier of Alberta makes Margaret thatcher look like a tame kitty. She’s drawn a hard line against all this as Alberta has a huge oil economy.
If history is a good judge, we’ll see a repeat of the Cold War, just locally where economically free principalities flourish, and more centralized authoritarian local governments flounder, but unlike the Cold War, there’s no iron curtain and entire nations will see migrations that haven’t been seen since the days of Ellis island
I am sorry but you think there will be no point in selling vehicles in California?
You mean the Worlds Fourth Biggest Economy (if it were a Country)
I mean I am not sure what to make of that Statement.
There won’t be when it’s population is 6 million, and all are too poor to buy a vehicle and all take the bus….. cause this is exactly where California is heading. Beside the few Tesla driving Hollywood execs, they are driving out everyone. Manufacturing, farming, banking, pharma, even tech. The only people immune to their anti business/production state regulations is education and government workers….. who also ironically are the most prone to using public transit….. so yes, by the 2030 deadline, why care about California? It would be like loosing the Rode Island market. Texas and Florida will more than make up for it.
People rushed into California, they can rush out, and are doing so.
Again their so called Anti-Business must be working as they just overtook Germany (AN entire Country) to become the Fourth Largest Economy in the entire WORLD this year when sooooooooooo many people and Companies left as you state.
So sure what you say I guess.
GM should stop selling vehicles in California ASAP Lol
61% believe in global warming…or rather climate change. It depends on which way it’s going. I for one do but that is what has been happening for a long, long time on this Earth. As for man’s presence causing it? I find it difficult to believe as the industrial age has been around some 125 – 150 years. The Earth has been around some 4,500,000,000 years! Really? That’s not even a fly speck on the timeline. And once again I mention “Follow the money.” All these laws and regulations requiring a buildup of the electric industry have to be benefitting those enacting them. They want to see Trump’s tax returns? We should be more interested in the investment portfolios of Newsom and the others promoting the electric world.
Ding ding ding!
Exactly! 61% believe the climate is changing, 39% believe it’s not changing much if at all. Of the 61% almost half of those believe it’s man made, and only about 1/3 of those believe it’s catastrophic and urgent. This is way down from when Al gore was running BTW.
Right on Darol!
C8.r, I don’t understand all the downvotes, cause your right on that the globalist are threatening companies with ESG and banking restrictions if they don’t acquiesce. I think your a little pessimistic, and I’m frustrated that companies like GM and Toyota are humoring these groups, while chevron and Sunoco are taking the fight head on to them. Is everyone else here familiar with ESG’s, and its relationship with the World Economic forum and the British monarchy?
wishful thinking Mary don’t count on me NO ev for me
Really??? Does Queen maryb know something everyone else doesnt??? Perhaps her clueless Court in that hideous collection of ivory Towers in Detroit checked their crystal ball???