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GM lost $3.9bn last year. There is a reason GM, Audi, Daimler etc are shifting to electric vehicles.
by koreyb 8y ago
GM lost $3.9bn last year.
There is a reason GM, Audi, Daimler etc are shifting to electric vehicles.
- LoSboccacc 8y agoAs I said, everyone has plans but the market is quite small for the big companies to move. GM turned a loss selling nine million vehicles or so, opening a whole line to enter a market which is moving just one million units or so competing with players like Tesla that operate at almost a loss make zero sense. They'll keep their design fresh and up to date to be ready when the time comes, but so far it's territory of steps and smaller companies that can profit from small production runs
- koreyb 8y agoAs I said, there is a reason they are all switching to EVs. The Tesla Model S, in its main US market, is the leader in the luxury car market. Model 3 is the #1 selling car by revenue. Production is limited to 2 US factories. Worldwide numbers go up fast when they have a Euro factory, Chinese factory, etc. > GM turned a loss selling nine million vehicles or so, opening a whole line to enter a market which is moving just one million units or so competing with players like Tesla that operate at almost a loss make zero sense. And yet they are doing it.
- LoSboccacc 8y ago> And yet they are doing it. Yes that why they killed the volt
- koreyb 8y agoVolt is a hybrid. They are increasing production of their EV Bolt. And plan on 20 new all-electric vehicles globally by 2023.