Overview

• 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.