How does General Motors plan to overtake Tesla?
To capture U.S. electric vehicle market share leadership, GM plans to spend $35 billion to roll out more than 30 new battery vehicles globally by 2025. 1 GM will have to overtake Tesla, which over the weekend reported record third-quarter sales of 241,300 electric vehicles, a 72\% increase over the prior year.
What is GM’s EV strategy?
This growth is to be driven by electric vehicles, connected services and new business areas. Specifically, GM forecasts that sales of electric vehicles should reach the ten billion dollar mark in 2023. By 2030, EV sales are then expected to rise to around 90 billion dollars, the equivalent of 77.8 billion euros.
Is Tesla an EV company?
The biggest name in electric vehicles keeps getting bigger. On the heels of its 2020 induction into the S&P 500, Tesla (ticker: TSLA) is up nearly 30\% year to date. GM may not have the excitement of an EV startup, but the company has committed to offering 30 new electric vehicles by 2025 worldwide.
Who will dethrone Tesla?
US automaker General Motors has big ambitions for its transformation to electric mobility as it has pledged to dethrone the EV giant Tesla and double its annual revenue by 2030.
Does GM own Nikola?
In September, the automakers announced a $2 billion deal that gave GM an 11\% stake in Nikola to supply battery and fuel cell technologies as well as produce the Badger pickup.
Does General Motors make electric cars?
So far, GM’s only EV available for sale in the US is the Chevy Bolt and the Chevy Bolt EUV. The Hummer EV and Hummer EV SUV will come later this year, followed by the Cadillac Lyriq and the Celestiq. GM has also said that it would make an electric Chevy Silverado pickup truck.
How many EV cars did GM sell in 2020?
202,488 electric vehicles
According to GM’s 2020 Sustainability Report, the automaker sold a total of 202,488 electric vehicles in 2020.