General Motors CEO Mary Barra spoke yesterday at the Barclays Global Automotive Conference in New York. During her talk, Barra said the company expects to make a profit off electric vehicles once they launch their next-generation EV platform.
“We are working to provide desirable, obtainable and profitable vehicles that deliver a range of over 300 miles. There’s a lot of really creative things we’re doing to achieve that profitability point for that new platform,” Barra said to investors.
The next-generation modular platform, due in 2021 will play a pivotal role in GM's plan to launch 20 all-new electric and hydrogen fuel cell vehicles by 2023. The platform will help drop the total per-unit cost by 30 percent or more. It will be used across a number of GM brands and various segments.
GM is also working on a new battery system that will cut the per-kilowatt-hour from $145 to under $100 by 2021.
Before these two launches, GM will be introducing four new EV and hydrogen vehicles. Two of those will be launch by April 2019 according to a GM spokesman. At least two vehicles will be small crossovers according to Automotive News. It is expected the electric models will use the underpinnings of the Chevrolet Bolt.
The company has a set a goal of a million electric vehicles by 2026 - with most happening in China due to their strict production quotas for EVs.