GM’s Electric Car Line Will Be Profitable in 2025, Barra Says
- CEO Barra to outline electric-car push to investors this week
- Surge in volume, lower battery costs would bring profitability
Mary Barra at General Motors’ Factory ZERO all-electric vehicle assembly plant in Detroit.
Photographer: Emily Elconin/BloombergGeneral Motors Co. plans to tell investors that the company expects its electric-vehicle program to be profitable in 2025, the same year it’s targeting sales of 1 million battery-powered cars, according to people familiar with the matter.
Chief Executive Officer Mary Barra will outline a plan at GM’s Nov. 17 investor day to show how the automaker can cover investments for battery plants and assembly, and build the Ultium battery program’s margins. Executives also plan to detail GM’s push to go from selling just about 44,000 EVs this year in the US -- at a loss -- to profitably becoming one of the nation’s biggest EV producers, said the people, who asked not to be named because the presentation hasn’t been made public.