GM
is
about
to
start
making
money
on
its
electric
vehicles
by
the
end
of
this
year,
right
on
schedule,
CEO
Mary
Barra
told
The
New
York
Times.
Barra
also
told
the
publication
that
GM
will
still
phase
out
the
sales
of
internal
combustion
engine
vehicles
by
2035,
a
goal
it
set
in
2021
alongside
a
promise
to
be
carbon
neutral
by
2040.
GM
faced
manufacturing
and
supply
chain
issues
affecting
its
battery
production
in
late
2023
that
delayed
the
launch
of
a
bunch
of
its
EV
models,
but
Barra
says
they
are
fixed.
Right
now
Tesla
sells
the
most
EVs
in
the
US
—
and
has
been
making
a
profit
on
them
alone
since
2021.
The
second
largest
producer
of
EVs
in
the
country
is
Ford,
but
it
has
been
posting
more
than
a
billion
dollars
in
losses
for
the
first
two
quarters
of
this
year
on
its
Model
e
electric
vehicle
division.
Other
pure
EV
players
like
Rivian
and
Lucid
aren’t
making
money
on
their
vehicles
and
on
are
hanging
on
thanks
to
outside
investors.
Chevy’s
Blazer
EV.Photo
by
Andrew
J.
Hawkins
/
The
Verge
EV
demand
is
still
on
the
rise,
but
its
rate
of
growth
is
fluctuating
in
the
US,
causing
manufacturers
to
modify
their
EV
rollout
strategies
and
incorporate
more
hybrids
into
the
mix.
A
big
thing
holding
EVs
back
are
their
high
costs,
but
customers
can
get
tax
incentives
from
the
federal
government
up
to
$7,500
to
help
with
the
purchase.
However,
the
credits
are
only
for
EVs
built
domestically
with
stringent
rules
on
vehicle
pricing
and
battery
materials
sourcing
—
rules
designed
to
stay
competitive
with
China,
which
is
building
more
EVs
for
cheaper.
Only
a
handful
of
GM-made
vehicles
like
the
Chevy
Equinox
and
Blazer
EV
qualify
for
incentives
right
now,
but
it's
making
investments
to
lower
battery
prices
and
get
those
tax
incentives
for
consumers.
One
of
GM’s
big
new
plans
is
to
open
a
new
battery
cell
development
center
in
2027
in
Warren,
Michigan.
GM
is
also
building
a
new
$3.5
billion
EV
battery
plant
in
Indiana
with
Samsung
SDI
as
well
as
another
in
Lansing,
Michigan
with
LG.
GM
and
LG
have
also
increased
production
at
currently
operational
plants
in
Spring
Hill,
Tennessee
and
Warren,
Ohio.
According
to
The
New
York
Times,
GM
will
collect
around
$800
million
in
subsidies
from
the
government
for
manufacturing
EV
batteries
in
the
US
thanks
to
the
Biden
administration’s
Inflation
Reduction
Act.
GM
also
plans
to
reduce
battery
costs
by
incorporating
lower-cost
lithium
iron
phosphate
(LFP)
batteries
in
future
EVs,
like
Tesla
and
Ford
already
do.
The
chemistry
generally
nets
a
lower
overall
driving
range
for
EVs
after
a
full
charge
compared
to
the
more
expensive
nickel
cobalt
manganese
(NCM)
batteries
GM
installs
in
most
of
its
current
EV
models.
However,
GM
thinks
its
range
won’t
suffer
by
much:
all
GM
EVs
today
get
approximately
300
or
more
miles
of
range,
comms
VP
Darryll
Harrison
tells
The
Verge,
and
it
expects
to
pack
“over
350
miles”
of
range
into
its
larger
LFP
vehicles.
GM
has
one
of
the
most
affordable
EVs
on
the
market,
the
Chevy
Equinox,
which
costs
below
$30,000
after
tax
credits.
It
doesn’t
have
Apple
CarPlay
for
those
who
care,
but
neither
does
Tesla,
which
sells
the
ultra-popular
Model
3
sedan
for
about
$35,000
after
incentives.
For
years,
Tesla
has
had
the
advantage
of
owning
the
most
comprehensive
and
reliable
EV
charging
network
that
makes
road
trips
a
breeze,
but
GM
can
now
access
it
too
with
an
optional
NACS
to
CCS
adapter
it
sells
(other
manufacturers
provide
it
for
free)
and
is
also
investing
in
its
own
EV
stations
with
partner
EVgo
as
well.
(Originally posted by Umar Shakir)
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