GM CEO Barra talks competition with Tesla, planned rollout of electric vehicle portfolio
GMC Hummer EVs plan to be shipped by end of year
GM CEO Mary Barra maps out the automaker's electric vehicle portfolio and timeline.
The electric vehicle space has become increasingly competitive among automakers and General Motors CEO Mary Barra assured that the company’s EV production is already well on its way on "The Claman Countdown".
As Tesla brings lower-priced electric vehicles to market, Barra raised Elon Musk the proposition of turning out 30 EV models by 2025, including a crossover-type car priced around $30,000 and another undisclosed vehicle priced even lower.
"We have a full portfolio planned as we roll out between now and 2025 and beyond," she announced.
Barra explained how GM has already made a "considerable investment" into the market. GMC Hummer EVs are currently being produced in-house to be shipped to customers by the end of 2021, while GM has two cell plants under construction to launch battery production by next year.
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"So while others are just talking about making the investment, we’re well along," she said. "We have a full portfolio of vehicles for everyone’s needs… and that’s where I think General Motors can, with our commitments, really make a huge impact and, like we do today, lead in the United States for selling the most cars and vehicles."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS CO. | 54.68 | -0.44 | -0.80% |
| TSLA | TESLA INC. | 339.69 | -6.30 | -1.82% |
"I’m really excited about the future product portfolio we’re launching."
While GM is entering the EV space with its GMC Hummer this year, Barra revealed there will be a "steady rollout" of vehicles to follow including the Cadillac Lyric in 2022 and the electrified Chevy Silverado shortly after.
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Barra stood by GM’s strong portfolio of traditional gas-powered vehicles and its ability to attract customers as the automaker transitions into the electric space. Meanwhile, the company is also focusing on building out its autonomous sector in cruise operation and the development of OnStar insurance.
"We have a very robust plan behind our growth strategy," she said. "We’ve done a lot of research. We have a dedicated team working on the additional services, subscriptions, additions that we can provide to the customer that will, first, surprise and delight but also make it more efficient for them. So that is what gives us confidence."
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