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GM Sees Path to Elusive EV Profits, 1 Million Sales a Year

  • Electric models can make money starting in 2021, CEO says
  • Barra teases shared self-driving vehicle for mobility business
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Why Electric Cars Aren't Taking Over Yet

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General Motors Co. is forecasting it will sell 1 million electric vehicles per year by 2026 and thinks it can do what Tesla Inc. hasn’t -- sell them at a profit.

The cost of the cells in new batteries GM has in the works will drop to less than $100 per kilowatt hour, from $145 in the Chevrolet Bolt, Chief Executive Officer Mary Barra said Wednesday. Getting the cost below that mark is crucial to profitability, with researcher IHS Markit estimating that’s when battery-powered autos can be competitive price-wise with gasoline-powered models.