General Motors has been facing challenges in catching up to Tesla in electric vehicle sales due to slower-than-anticipated industry-wide EV adoption and specific issues with production, software, and supply chains. Despite the setbacks, GM believes its EV sales momentum is building with an expanding lineup of all-electric vehicles ranging from $35,000 to over $300,000. The company sold nearly 21,000 EVs in the U.S. in July and August, showing a 70% increase compared to the previous year. GM currently offers eight “Ultium-based” EVs and plans to introduce two more by year’s end, making a total of ten EV models available to consumers.
The pressure is on for GM to increase sales of their electric vehicles, as they have invested billions of dollars in developing these models. Although EVs are currently less profitable than gas-powered vehicles, GM anticipates profitability on a production basis once they reach a target of 200,000 units by the fourth quarter. Under CEO Mary Barra, GM has committed to offering exclusively all-electric vehicles by 2035, with a goal of producing between 200,000 to 250,000 EVs in the current year.
GM continues to focus on meeting customer demand for EVs and engaging potential buyers through roadshow events and dealership experiences. While the automaker has faced challenges and revised some of its previous targets, it remains optimistic about the future of EVs and is working towards a strong finish to the year in terms of EV adoption.
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