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This is the right move for GM. * These 'generations' last about 10 years. The are sold in a wide variety of products: Chevy, GMC, Cadillac, sports cars, truck
by htag 4y ago
This is the right move for GM.
* These 'generations' last about 10 years. The are sold in a wide variety of products: Chevy, GMC, Cadillac, sports cars, trucks, and SUVs.
* Full transition to electric is at least 10 years away. This is the right time to make a 10yr investment.
* These vehicles are probably going to be some of the last to have really compelling electric options. Lots of sport car enthusiast find the engine to be part of the experience, and may never feel an electric car is a replacement (I'm that way with motorcycles). SUVs and Trucks are often used in ways and places unsuited for EVs, but this is changing overtime.
* GM has ~$240B in assets. On the scale of GM this is just another gear turning.
* Only a percent or two of GMs sales are EVs. They should invest in things their customers are buying.
* This isn't the end of GM and EVs. They were in on this early with the Volt, and have shown continued investment.
- DangitBobby 4y agoI'm certain they could sell more EVs if they made it a priority. I had to wait a couple of months for them to manufacture my Chevy Bolt, in which time I could have gotten cold feet or bought one from someone else. Apparently now there are 4 people on a waiting list at the dealership, which has 0 EVs in their inventory.
- pupppet 4y ago> * Full transition to electric is at least 10 years away. This is the right time to make a 10yr investment. Wouldn’t that mean they need to invest in electric now so they have something ready in 10 years?
- Rebelgecko 4y agoI don't think those goals are mutually exclusive
- pupppet 4y agoExcept with a billion investment in the V8 and 64 million in EVs, GM has decided they are.
- htag 4y ago$64million new investments in EVs were announced on Friday along with the V8 investment. This is in line with GM's stated goal of being all electric by 2035, and their lineup of EVs planned to be sold in 2023 is actually fantastic. Their Bolt and Equionix both offer great value propositions compared to anything on the market. We can't go full electric tomorrow, we don't have the production or the infrastructure. This is a ten year investment, on what might be the last generation of mass manufactured V8 engines.