GM reckons it will make profits on electric vehicles by 2021
10 Jan 2018 Robert Barry
[image / GM
General Motors (GM) has announced it will be launching at least 20 all-new
electric vehicles (EV) by 2023 and it is working with Chinese partner SAIC
to develop new and more cost efficient EV production facilities in China to
According to Reuters, GM chief executive officer Mary Barra has made a
promise to investors that the company will make a profit on selling EV by
In November 2017 at a Wall Street function hosted by Barclays, Barra told
analysts that GM is developing an all-new platform for battery electric
vehicles that is different to the one currently used in the Bolt EV which
will lower production costs and make the vehicles more profitable.
“One of the things we'll be doing is structurally integrating the batteries
into the architecture. This will allow us to take out cost and gives us
better flexibility from a design perspective,” says Barra.
“We will have modular [battery] cell chemistry solutions that will allow us
to enter multiple segments off of this platform and really support all of
the customer demands,” she says.
“We'll also have the ability, which we have today, to manufacture battery
packs at scale, both in China and the United States. So the result is a very
modular battery platform that's going to give us tremendous flexibility to
meet customer demands and to lower cost,” says Barra.
According to Reuters, Barra also says that GM expects its battery cell cost
to fall from U.S $145 per kilowatt-hour (kWh) in the Chevy Bolt, to less
than U.S $100 per kWh with the new platform.
While Barra didn't give specifics at the Barclays function, she also told
the assembled analysts that GM is improving the design of its battery packs,
making them lower in height which makes them easier to mount into the floor
of a vehicle and also modular, so that small and large battery packs can be
assembled from common components.
According to Reuters, the Chevrolet Bolt was the first mass-produced
electric vehicle to go more than 200 miles (320km) between charges, and sell
under U.S $40,000.
GM sold 23,297 Bolts in 2017 while Tesla produced 1,770 of its U.S $35,000
Model 3, well short of the company’s original targets.
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