Earlier this month, GM stated an ambitious goal to become the leader in EV sales in the US without providing a time frame for it.
We now get to learn more about General Motors’ intentions from an interview with CEO Mary Barra. She said during CNBC’s "Squawk Box" that GM can “absolutely” catch Tesla in US sales of electric vehicles by 2025.
That is a pretty bold statement considering that Tesla is breaking record after record at the moment as GM has no electric vehicle on sale—Bolt EV and Bolt EUV production will resume next week following a pause caused by the battery recall.
Still, the CEO is confident the market will be impressed with the EVs GM will be launching, such as the GMC Hummer and the Cadillac Lyriq shortly, as well as the Chevrolet Equinox-sized electric crossover later on.
“When we look at the portfolio we have, not only the Hummer and the Lyriq, but Mark Reuss talked about that we’re going to have a Equinox-like sized product that’s going to be at around $30,000, we have the Silverado E coming, a GMC product after that, and again, all the other products that we haven’t announced yet.
I am very comfortable, because when people get into these vehicles, they are just wowed. So we will be rolling them out and we’re going to just keep working until we have No. 1 market share in EVs.”
Marry Barra, GM CEO
As impressive as the Lyriq and Hummer EV may be, they are not likely to become high-volume sellers. The Cadillac Lyriq SUV starts at $58,795 in Debut Edition guise while the most affordable GMC Hummer EV truck, the EV2, starts at $79,995. The problem is that variant is coming in spring 2024, while Lyriq deliveries begin in the first half of 2022 with the limited-run Debut Edition.
As for the Chevrolet electric crossover, we only know that General Motors is targeting a $30,000 starting MSRP when it arrives by 2025. All these vehicles are part of GM’s plan to release at least 30 EVs by 2025, including Chevrolet Silverado/GMC Sierra electric trucks, a Chevy Blazer-sized model, Buick crossovers, Cadillac Celestiq flagship sedan, and an entry-level EV priced under 30 grand.
It remains to be seen whether GM will manage to launch all these EVs by 2025, but it’s safe to say Tesla won’t be standing still in the meantime. The Cybertruck, Roadster and an entry-level EV are on their way, and Tesla will soon be opening two new plants in Berlin, Germany, and Austin, Texas to meet increasing demand.
Tesla currently has 63% EV market share in the US while GM has 9%.