GM to Build More Electric Vechiles

  • General Motors outlined a plan to have 20 new electric vehicles in production by 2023
  • The electric vehicles will not be profitable to start, thus will be funded by the profitability from gasoline powered SUVs
  • The profitability from other legacy business lines is a necessity as Tesla has burnt through $10 billion of cash to pursue electric vehicles
  • This comes at a time when China and some European countries have proposed the idea of banning internal combustion engines

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s