GM in dogfight against Tesla, aims to catch up in EV sales by 20251 min read . Updated: 29 Oct 2021, 06:25 PM IST
GM bets big on product offensive in EV space to close the gap against Tesla but the road ahead may well be tough.
General Motors has no one else but Tesla in its sights as it looks at shifting to top gear in the race for the crown of personal electric vehicles. While the Hummer EV has brought back the iconic SUV back to life, there may still be a long way to go before the car company can catch up with Tesla in an all-American battle.
But CEO Mary Barra has a timeline.
In a recent interview with CNBC, Barra put on a confident face and highlighted that GM will draw level with Tesla by 2025, in terms of sales of electric vehicles. Bulk of the thrust will have to come through existing and upcoming battery-powered products. “When we look at the portfolio we have, not only the Hummer and the Lyriq, but Mark Reuss talked about that we’re going to have a Equinox-like sized product that’s going to be at around $30,000, we have the Silverado E coming, a GMC product after that, and again, all the other products that we haven’t announced yet," said said. “I am very comfortable, because when people get into these vehicles, they are just wowed."
More products may auger well but is no guarantee of success. And bringing down Tesla may not be an easy ask, especially because the EV giant has been going from one record to another. In the recently concluded quarter, Tesla hit an all-time record in sales. This despite semiconductor shortage-related woes that are challenging almost every major auto brand.
One way to bolster sales - and thereby prospects - could be to have more affordable products in the lineup. Barra has already highlighted a $30,000 EV but Tesla CEO Elon Musk previously already revealed plans of an EV that would sit below Model 3, the most affordable Tesla at present.