GM CEO Barra says electric vehicles to be profitable by 2025

General Motors
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General Motors-Investor Day
Posted at 1:45 PM, Nov 17, 2022
and last updated 2022-11-17 15:10:03-05

General Motors expects its portfolio of electric vehicles to turn a profit in North America by 2025 as it boosts battery and assembly plant capacity to build over 1 million EVs per year.

CEO Mary Barra used the pledge to kick off the company's investor day event Thursday in New York.

The profit figure includes vehicle sales revenue, benefits from emissions tax credits, and revenue from software and parts sales, she said.

Further details were expected later in the event.

Barra said the company's EV portfolio appeals to a broader range of customers than the competition.

GM EV lineup includes plans to sell a small SUV for around $30,000, plus a luxury SUV, pickup trucks, and Hummer SUVs in the next two years.

The Detroit automaker has a goal of selling only electric passenger vehicles by 2035.