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May 5th 2022
GM (GM) CEO Mary Barra has made it her mission to surpass Elon Musk in EV manufacturing.
She promises that her 113-year-old company can pivot and take on Tesla (TSLA), the world's largest EV maker, making GM the eventual leader in that market as it's been in the past for internal-combustion powered cars.
“We're taking all the steps to do it,” she told Yahoo Finance ina wide-ranging interview this week. “We have said that by mid-decade, we will be selling more EVs in this country than anyone else, including Tesla.”
Mary Barra, Chair and CEO of General Motors Company speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/Mike Blake
The ambitious plans are not likely to faze Musk publicly, who once mocked Barra on Twitter as living “in Cloud Cuckoo Land”, over the market share of their respective companies.
But Barra says she knows the strategy to do it: Cheaper electric vehicles.
“Remember, we're not necessarily just selling at the premium end” she said Monday, drawing a clear contrast to Tesla, whose cheapest model has an MSRP of $46,990. “We're going to have electric vehicles affordable at $30,000.”
Currently, the Chevy BOLT EV is listed as starting at $31,500, and a Silverado EV has an estimated MSRP of $39,900. Other electric cars in Barra’s lineup — like the Cadillac LYRIQ and the Hummer — are more clearly in the luxury space, with suggested MSRPs of $58,795 and 79,995, respectively.
The company also recently announced a partnership with Honda to further drive EV prices down via a series of affordable electric vehicles that are expected to go on sale in 2027.
“We've really worked to listen and understand what the customer is looking for,” Barra says.
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Nonetheless, Barra professes confidence that she will eventually close the gap and surpass Musk, the world’s richest man.
Tesla has a clear head start on production and holds a distinct advantage in clean technology, however. In 2021, It remained the leader in the global EV market with a market share of nearly 14%. GM sits at in fourth at 7.6%.
She says each year more and more GM drivers will gradually trade in their internal-combustion vehicles for electric ones. “They are going to be buying electric trucks,” she said of current Chevy and GMC truck drivers in the years ahead.
“I think it's a little bit longer game,” she says.
LINK
There is a video in the link of the whole interview .
If GM can drive the costs down, offer a bare bones basic cheap affordable entry sitting at bottom of each of it's US EV models range it will draw in a lot of buyers GM will soon shoot past Tesla. GM's little RWD Wuling car, is definitely not suited for the US market but it is No1 best selling car in China, outselling Tesla's 2 models.
If GM can bring more affordable EV cars to the US market they will do pretty well, definitely outsell Tesla, you still have to build some profitably in there as well, that where the better equipped mid and top of range in each models range come in. Only sad thing l don't see is a decent RWD EV sedan like the Tesla Model 3 in Chevy or Ford EV shed to take on Tesla Model 3 with yet.
May 5th 2022
GM (GM) CEO Mary Barra has made it her mission to surpass Elon Musk in EV manufacturing.
She promises that her 113-year-old company can pivot and take on Tesla (TSLA), the world's largest EV maker, making GM the eventual leader in that market as it's been in the past for internal-combustion powered cars.
“We're taking all the steps to do it,” she told Yahoo Finance ina wide-ranging interview this week. “We have said that by mid-decade, we will be selling more EVs in this country than anyone else, including Tesla.”
Mary Barra, Chair and CEO of General Motors Company speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/Mike Blake
The ambitious plans are not likely to faze Musk publicly, who once mocked Barra on Twitter as living “in Cloud Cuckoo Land”, over the market share of their respective companies.
But Barra says she knows the strategy to do it: Cheaper electric vehicles.
“Remember, we're not necessarily just selling at the premium end” she said Monday, drawing a clear contrast to Tesla, whose cheapest model has an MSRP of $46,990. “We're going to have electric vehicles affordable at $30,000.”
Currently, the Chevy BOLT EV is listed as starting at $31,500, and a Silverado EV has an estimated MSRP of $39,900. Other electric cars in Barra’s lineup — like the Cadillac LYRIQ and the Hummer — are more clearly in the luxury space, with suggested MSRPs of $58,795 and 79,995, respectively.
The company also recently announced a partnership with Honda to further drive EV prices down via a series of affordable electric vehicles that are expected to go on sale in 2027.
“We've really worked to listen and understand what the customer is looking for,” Barra says.
Nonetheless, Barra professes confidence that she will eventually close the gap and surpass Musk, the world’s richest man.
Tesla has a clear head start on production and holds a distinct advantage in clean technology, however. In 2021, It remained the leader in the global EV market with a market share of nearly 14%. GM sits at in fourth at 7.6%.
She says each year more and more GM drivers will gradually trade in their internal-combustion vehicles for electric ones. “They are going to be buying electric trucks,” she said of current Chevy and GMC truck drivers in the years ahead.
“I think it's a little bit longer game,” she says.
LINK
There is a video in the link of the whole interview .
If GM can drive the costs down, offer a bare bones basic cheap affordable entry sitting at bottom of each of it's US EV models range it will draw in a lot of buyers GM will soon shoot past Tesla. GM's little RWD Wuling car, is definitely not suited for the US market but it is No1 best selling car in China, outselling Tesla's 2 models.
If GM can bring more affordable EV cars to the US market they will do pretty well, definitely outsell Tesla, you still have to build some profitably in there as well, that where the better equipped mid and top of range in each models range come in. Only sad thing l don't see is a decent RWD EV sedan like the Tesla Model 3 in Chevy or Ford EV shed to take on Tesla Model 3 with yet.
