Jacobson said it will take time for individual electric vehicles to get to “low- to mid-single digit” profit margins in 2025 as costs are spread over more vehicles. “If you look at any individual program, there’s probably better performance than what you see in the aggregate as a whole,” he said.
Despite economic volatility and the possibility of a downturn, GM appeared a little more confident in this year’s financial results, saying Thursday it expects full-year pretax income to be $13.5 billion to $14.5 billion. That’s within the range of previous guidance of $13 billion to $15 billion. The forecast for free cash flow, the cash left after operating and capital expenses, $7 billion to $9 billion to $10 billion to $11 billion for the year.
For electric vehicles next year, GM will revive the Buick Electra name for a new SUV that will go on sale first in China, then in the U.S. Then comes the Cruise Origin, a multi-passenger vehicle built for the company’s ride-hailing service, and a Cadillac compact SUV.
I look forward to driving an electric truck made by GM a great American company!
GerberKawasaki
Toyota is sticking to hybrids. The infrastructure and battery/charging technology aren’t there to compete with the convenience of hybrids.
By “profitable” these people mean grifted into sufficient taxpayer subsidy and government undermining of affordable effective fuels.
Just what we want, a Chinese owned battery factory on Michigan soil.
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