GM challenges Tesla with promise of profitable electric cars

Detroit

GENERAL Motors Co plans to launch a new family of electric vehicles in 2021 that will cost less to build and make a profit for the US No 1 carmaker, chief executive Mary Barra told investors on Wednesday.

Her plans represent a direct challenge to money-losing electric vehicle specialist Tesla Inc, which is struggling to get its more affordable, high-volume Model 3 launched and recently reported its largest-ever quarterly loss.

"We are committed to a future electric vehicle portfolio that will be profitable," Ms Barr…