Why GM’s Mary Barra Still Believes in EVs, Despite Slow Sales

Published On Oct 17, 2024, 11:20 AM

Mary Barra, the CEO of General Motors (G.M.), remains committed to the transition to electric vehicles (EVs) despite a recent downturn in EV sales. She asserted that G.M. has resolved its battery manufacturing issues and expects the company to be profitable with its electric models by the end of this year. The company plans to phase out gasoline cars by 2035, and with a new model priced under $30,000 after federal tax credits, G.M. aims to boost sales. Barra believes that growth in the EV market will depend on the availability of charging stations and the overall appeal of electric cars to consumers.

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G.M. is positioning itself to lead in the electric vehicle market, particularly as it resolves manufacturing issues and introduces affordable models. With financial profitability anticipated soon, investor confidence may improve. However, the overall electric vehicle market is currently struggling, and potential risks remain in consumer adoption rates and competition from other automakers.

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