The CEO of General Motors (GM), Mary Barra, has announced the company will launch a range of electric vehicles (EVs) in 2021 and is intending that they should be profitable. GM’s shares were down 0.4 percent at $42.84 in midday trade. Rival EV manufacturer Tesla has continued to make losses, as other companies seek ways to make money from the new technology. GM hopes to make its vehicles cheaper by developing a new battery system that will be 30% less expensive than existing lithium-ion ones. In an interview with Bloomberg News, Barra said she was confident about GM’s ability to compete against Tesla, which recently raised $42 billion for public investors.
The CEO of General Motors (GM), Mary Barra, has announced the company will launch a range of electric vehicles (EVs) in 2021 and is intending that they should be profitable. Rival EV manufacturer Tesla has continued to make losses, as other companies seek ways to make money from the new technology. GM hopes to make its vehicles cheaper by developing a new battery system that will be 30% less expensive than existing lithium-ion ones. In an interview with Bloomberg News, Barra said she was confident about GM’s ability to compete against Tesla, which recently raised $42 billion for public investors.