General Motors (GM) big boss Mary Barra has doubled down on the automaker’s pledge to an all-electric future, despite the recent hiccup in EV sales. In an exclusive chat with NBC News, Barra underscored GM’s grand plan to shift to a 100% electric fleet, stressing that this sweeping change will roll out over the next several decades.
“We are committed to an all-electric future,” Barra stated. “This transformation will take decades, and we are proud of our gas-powered fleet as well.”
Barra’s remarks come after a bumpy spell for the EV market. In April, Cox Automotive reported a dip in EV sales for the first quarter of 2024, marking the first such slide since the pandemic hit. Yet, despite the hiccup, EV sales still eked out a year-over-year growth of 3%. GM’s move last year to retire its Chevy Bolt EV, which was the star of its EV lineup, signaled a big shift. Now, the company is all-in on its new Ultium platform, a flexible battery system crafted for its remaining electric fleet.
“Whether folks lean towards gas or electric rides, we’ve got options to fit their needs,” Barra elaborated. “We want people to opt for EVs because they adore them, but if it doesn’t gel with their lifestyle, we’ve got top-notch gas-powered vehicles too.”
Tesla continues to dominate the U.S. EV scene, holding onto a hefty 50% market share. However, GM’s clever move to let its EVs tap into Tesla and Pilot Flying J charging stations aims to soothe consumer jitters about charger availability. Barra is hopeful that beefing up the charging network will make it easier for folks to jump on the EV bandwagon.
“We reckon that a strong charging infrastructure will nudge more people towards choosing EVs,” Barra noted.
Despite some bumps, GM has seen success with certain EV models. Kelley Blue Book data, shared by Cox Automotive, showed that one in six Cadillac buyers is now picking an EV, with Cadillac enjoying a whopping 500% year-over-year boost in EV sales, thanks to the Lyriq crossover priced between $58,590 and $63,190.
This trend underscores a growing love for high-end electric rides. On the flip side, the Chevy Bolt, once the budget-friendly EV champ, faced the chopping block. Barra acknowledged the need for more wallet-friendly EV options to spark widespread adoption.
“To really drive EV uptake, we need affordable models,” Barra said. “We’re rolling out a new model later this year starting around $35,000, and with a $7,500 tax credit, the price drops below $30,000.”
However, getting that $7,500 tax credit depends on things like the buyer’s income and where the vehicle’s made. These rules, part of the Biden administration’s push to boost domestic EV and battery production, leave some models out of the U.S. tax credit party.
Former President Donald Trump, eyeing another shot at the White House, has slammed the Biden administration’s EV push as “radical.” Barra, however, insisted that GM’s EV strategy would stay on track, no matter the political winds.
“A second Trump administration wouldn’t alter our plans,” Barra stated. “We are committed to EVs because they are better in the long term. With instant torque and the convenience of home charging, we believe people will prefer EVs as the charging infrastructure improves.”
Barra wrapped up with a future-focused vision, championing the superiority of electric vehicles. “We’re convinced that as the charging network beefs up, consumers will flock to EVs for all their perks.”
GM stands firm in its dream of an all-electric tomorrow, steering through industry hurdles while constantly innovating and broadening its EV lineup.
