GM Says that It’ll be First to Profit from Electric Vehicles

Although in recent years electric vehicles have started to gain popularity, auto manufactures around the world are still long time away from making the division their priority. However, General Motors are set to become the first electric vehicles manufacturer to make sustainable profit from the electric vehicles according to an executive from the company.

Recently, General Motor’s executive vice president for product development Mark Reuss has said that the company is working towards cutting down the cost of producing electric vehicles and thus producing affordable models. In order to achieve that, engineers of the company have been working to improve efficiency of batteries used in electric vehicles.

Talking about the product manufacturing process, he said, “That’s the mantra inside product development. That’s what all our engineers are all working toward.”

However, as of now, the plan is to introduce about 10 different electric vehicle models by 2020 in China where the company currently has the biggest consumer base. He said, “We know the customers would like to drive electric but are unwilling to pay, and that’s why we’re going to be the first company to (produce) electric vehicles that people can afford at a profit.”

As other companies including PSA, Volkswagen, Tesla, BMW and Mercedes are planning in introducing affordable market, General Motors is also planning on introducing models in the price ranges to attract more consumers. In order to achieve that goal, the company is set to announce an all-electric CT6 luxury sedan soon.

In addition to these models, the company is planning on introducing autonomous vehicles in the near future.

Featured Image: Wikimedia Commons

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