GM says it will be first to profit from electric cars

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Thread: GM says it will be first to profit from electric cars

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    GM says it will be first to profit from electric cars

    http://www.ctvnews.ca/autos/gm-says-...cars-1.3394416

    AFP
    Published Tuesday, May 2, 2017 12:09PM EDT



    U.S. auto giant General Motors is poised to become the first manufacturer to make a profit from electric vehicles, a GM executive predicted on Monday.

    The company leads the pack in reducing the cost of electric vehicles and ultimately offering an affordable version, said Mark Reuss, GM's executive vice president for product development.

    Engineers have been working to reduce mass and improve battery efficiency since it does not take as much power to move a lighter-weight vehicle, he said.

    "That's the mantra inside product development. That's what all our engineers are all working toward," Reuss told reporters.

    And as GM increases production of electric vehicles, particularly in China, where GM has plans to introduce 10 different electric models by 2020, it will help drive down the cost of battery cells.

    "We know the customers would like to drive electric but are unwilling to pay, and that's why we're going to be the first company to (produce) electric vehicles that people can afford at a profit," Reuss said.

    GM will soon introduce a plug-in, all-electric vehicle based on the Cadillac CT6 luxury sedan, and a Buick extended range electric vehicle similar to the Chevrolet Volt.

    Other carmakers such as BMW, Mercedes-Benz, PSA, Volkswagen, Ford and Tesla are promising to bring out additional electric vehicles, including Tesla's Model 3 due out in July aimed at the middle market.

    GM's electric vehicles also will serve as a platform for the company's efforts to launch autonomous vehicles,

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    Re: GM says it will be first to profit from electric cars

    I'll be more impressed when the ARE the first vs. "will be" the first. All talk until it happens. Though it wouldn't surprise me if GM is the first, but they fail to capitalize on it somehow.

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    Re: GM says it will be first to profit from electric cars

    So they just confirmed they are not making money now, and it's going to be $7,500 harder in about 18 months?
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    Re: GM says it will be first to profit from electric cars

    They need to quit kicking the can along and just do something. This is kind of like everything else it seems and they just keep leading us on.

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    Re: GM says it will be first to profit from electric cars

    I would expect renalt/nissan as the ONLY other maker with ANY chance of making "good" money on electrics and I thought the LEAF WAS at least covering its cost EX with the volume in europe

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    Re: GM says it will be first to profit from electric cars

    Quote Originally Posted by InCogKneeToe View Post
    The company leads the pack in reducing the cost of electric vehicles and ultimately offering an affordable version, said Mark Reuss, GM's executive vice president for product development.

    Engineers have been working to reduce mass and improve battery efficiency since it does not take as much power to move a lighter-weight vehicle, he said.
    What a revelation! I'm sure none of the other manufacturers have figured that out yet .

    If talk/action ratio was a useful metric, GM would certainly be leading the pack in that.
    "The irony of the Information Age is that it has given new respectability to uninformed opinion" -- John Lawton

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