Monday, June 17, 2024
NewsGeneral Motors wants to Sell Ten Times More EVs by 2025 in...

General Motors wants to Sell Ten Times More EVs by 2025 in Order to Overtake Tesla

General Motors wants to sell ten times more EVs in only three years to beat Tesla.

  • GM sold 25,000 electric vehicles last year while Tesla sold 352,000 of them

  • The automaker wants to overtake Tesla in only three years

  • Its strategy involves a large number of models and affordable prices

Tesla has been the one to beat in the electric vehicle segment since it released the Model S ten years ago, but now, major automakers are confident they will be able to beat it at its own game soon.

After Ford and Volkswagen expressed their ambition to beat the EV maker in terms of sales during the current decade, it is GM’s turn to do the same.

According to Marry Barra, CEO of General Motors, the company aims to sell more electric vehicles than Tesla by 2025.

This is a very ambitious goal since it implies the automaker will be able to increase its EV sales more than tenfold in only 3 years.

To do so, General Motors has developed a strategy that will see it introduce a large number of new electric models that will be able to fulfill the needs of most buyers.

This means that GM will be adding more niche products in order to be able to cover as many market segments as it can.

Another pillar of this strategy consists in selling affordable EVs that will attract a broader audience, such as the Bolt EV and the upcoming Equinox EV which is rumored to start at only $30,000 in the United States.

The lower end of the market is where most sales could be coming from since the most affordable Tesla, the Model 3, starts at $50,000 and most other automakers are pricing their EVs in this same range.

Another big part of GM’s plan to increase its global EV sales is a return to Europe, a market which it had exited in 2017 after the sale of Opel and Vauxhall to the PSA Group, now part of Stellantis.

The company’s CEO says General Motors will return to Europe in the coming years with a lineup exclusively composed of electric vehicles.

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