GM races to build a formula for profitable electric cars
Detroit
GENERAL Motors (GM) chief executive Mary Barra has made a bold promise to investors that the Detroit carmaker will make money selling electric cars by 2021.
What Ms Barra has not explained in detail is how GM intends to do what, so far, no major carmaker has done.
The answer is a big bet on combining proprietary battery technology, a low-cost, flexible vehicle design and high-volume production mainly in China, according to six current and former GM and supplier executives and six industry specialists interviewed by Reuters.
If GM can meet Ms Barra's ambitious profitability target, then it will house two different businesses by the mid-2020s: A traditional focus in North America on pickup lorri…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
GM CEO Barra compensation fell 4% in 2023 to US$27.8 million
Boeing reports first revenue drop in 7 quarters as deliveries decline
Volkswagen to keep China market share stable as price war rages
COE quota for May-July up 2.7%; passenger car categories rise despite less cut-and-fill
Tesla profits tumble but shares rise on new vehicle plan
Volvo Cars see good demand this year after higher Q1 unit sales