GM Expects to Turn Profit on Electric Vehicles by 2025

Despite current losses on each EV sold, GM plans to improve manufacturing and reduce costs to achieve profitability.

General Motors (GM) is currently losing money on every electric vehicle it sells, but expects to generate mid single-digit pretax profit margins by 2025.
The company has faced challenges in ramping up electric vehicle manufacturing, particularly with machinery at its Ultium Cells battery plant in Ohio.
GM's guidance of mid single-digit profit margins in two years is slightly better than previous estimates, and includes benefits from U.S. government clean energy tax credits.
Despite a slowdown in the rate of electric vehicle sales growth in the U.S., GM plans to build factory capacity to manufacture 1 million EVs per year by the end of 2025.
GM is releasing a series of electric SUVs and plans to launch a new version of the Chevrolet Bolt in 2025.