Despite falling behind Tesla in electric vehicle sales, General Motors (GM) remains optimistic about the future of its EV lineup. GM’s EV sales have been on the rise, with sales nearly matching its full second-quarter sales in just July and August. With a lineup ranging from $35,000 to over $300,000, GM believes it has the most comprehensive EV lineup in the U.S.
The automaker currently offers eight “Ultium-based” EVs, with plans to introduce two more Cadillac models by year’s end, bringing the total to 10. GM’s goal is to sell these EVs, which have been a major focus under CEO Mary Barra, by meeting customer demand despite the challenges of lower profitability compared to gas-powered models.
Despite withdrawing most of its EV targets, GM maintains a target to produce between 200,000 and 250,000 EVs this year. The company is also committed to an all-electric lineup by 2035. While GM faces stiff competition from Tesla, Ford, and Hyundai/Kia in the EV market, the automaker is confident in its ability to compete by expanding its lineup and focusing on EV adoption.
Overall, GM sees a strong quarter four ahead for EV adoption and remains focused on increasing its market share in the EV segment. As EVs continue to gain popularity in the U.S., GM’s investments in its electric vehicle lineup aim to position the automaker as a leader in the rapidly growing electric vehicle market.
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