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 battery manufacturer Ford has continued to make losses , as other companies seek ways to make money from the new technology . GM hopes to make its batteries cheaper by developing a new battery system that will be 30 % less expensive than existing lithium - ion ones . It aims to bring the cost of batteries down to $ 1 per kilowatt - hour and increase the vehicles ' range to more than 300 miles between charges .
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. It aims to bring the cost of batteries down to $100 per kilowatt-hour and increase the vehicles' range to more than 300 miles between charges.