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CNBC - "GM to spend $6.6 billion on EV plant investments in bid to dethrone Tesla in electric car sales by 2025"

Zoidz

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  • General Motors said it will invest roughly $6.6 billion in its home state of Michigan through 2024 to increase electric pickup-truck production and build a new EV battery cell plant.
  • The new spending is part of a plan to increase GM’s North American production capacity to build 1 million electric vehicles by 2025.
  • GM has projected it will sell more than 1 million EVs globally by mid-decade and overtake Tesla as the top US-based seller of electric vehicles during that time frame.
“We will have the products, the battery cell capacity and the vehicle-assembly capacity to be the EV leader by mid-decade,” GM CEO Mary Barra said in a statement.
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kurtlikevonnegut

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  • General Motors said it will invest roughly $6.6 billion in its home state of Michigan through 2024 to increase electric pickup-truck production and build a new EV battery cell plant.
  • The new spending is part of a plan to increase GM’s North American production capacity to build 1 million electric vehicles by 2025.
  • GM has projected it will sell more than 1 million EVs globally by mid-decade and overtake Tesla as the top US-based seller of electric vehicles during that time frame.
“We will have the products, the battery cell capacity and the vehicle-assembly capacity to be the EV leader by mid-decade,” GM CEO Mary Barra said in a statement.
Are they assuming that Tesla and Ford will just stick with what they have during that time period? If you include production in China, does this increase in production even get them to what Tesla is doing right now?

They completely botched the huge jump they had on Ford in the EV space. It'll be interesting to see how that plays out over the next 3-5 years.
 

Trandall

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@Mary Barra, I thought you were already the leader in EV's?
I don't follow GM that closely, I've largely written them off, but does anyone know if this plan includes them forging forward with prismatic cells? If so this will probably seal their fate for good.
 

Trandall

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@kurtlikevonnegut, I agree Ms. Barra doesn't seem to have a firm grasp on reality.
 

Scoiatael

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I have very little faith in gm dethroning Tesla. I think Ford has the best shot. Mustang, F150, and an eventual Explorer and Ranger ev will be big sales for them.
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