G.M. Accelerates Its Ambitions for Electric Vehicles

[Zorro]

General Motors says it will increase its investment and model offerings over the next five years “to expedite the transition to E.V.s.”

For the last few years, Tesla has not only dominated the market for electric cars but also captivated the imaginations of investors, a phenomenon that has lifted its market value to stratospheric heights even though it only just started turning consistent profits.

Now General Motors is planning an all-out push to catch up to Tesla, in E.V. sales and in catching investors’ eyes.

In a presentation to financial analysts on Thursday, the automaker said that it was expediting plans to introduce electric cars and trucks over the next five years, and expected to spend $27 billion by 2025 on the effort, up from a previous budget of $20 billion.

“We are all-in to establish leadership in electric vehicles,” the company’s chief executive, Mary T. Barra, said at a conference hosted by Barclays Capital. “E.V.s are core to growing our business and creating shareholder value.”

https://www.nytimes.com/2020/11/19/business/gm-electric-vehicles.html

[Aristus]

1. Corporate stubbornness has cost us decades of progress.

It's better to lead than to have to compete with the other followers.

Guess none of those overpaid CEO's ever thought of that...

[Miguelito Loveless]

3. They have their money

and now it is someone else's problem.

[Miguelito Loveless]

2. Detroit either wakes up quickly

or goes extinct.

GM may be finally getting it, though it is doing so a decade too late. Ford is pretty much doomed. Chrysler (now Fiat-Chrysler) may survive by merging with yet another European car company.

There is no excuse. They knew this transition was coming for about three decades. Rather than change and take a small hit to profits over that time, they have gone for maximum profit right up to the point where those profits are just about gone.

[Initech]

4. I'm really interested to see how the Mustang Mach E comapres to the Model X.

Should be interesting when it's finally on the road!

[Miguelito Loveless]

5. It is very promising, but WAY late in the game

Ford should have rolled this out 3-4 years ago. The electric F-150 should have been out last year. Ford is hemorrhaging money. It's rate of cash burn means bankruptcy in 3-5 years.

[ansible]

6. GM cars are pure garbage

Stay far, far away from anything they make, my brother's Cruze is one of the most unreliable cars I've ever seen

[Disaffected]

7. Is the car's name Ted?