The GM CEO plans to buy Tesla and fix the price.
see photosThe Equinox EV will be the one that will make it difficult for Tesla
GM CEO Mary Barra has outlined a plan for the iconic Detroit-based carmaker to overtake Tesla in market share and market cap. His plan is to make sure GM is building a more affordable electric car than its California rival. GM wants to snatch the title of world’s largest EV maker from Tesla, as it was one of the first players in the electric car trend.
“We’re taking all steps to make that happen. We’ve said that by mid-decade, we’ll be selling more EVs in this country than anyone else, including Tesla,” Barra said in an interview with Yahoo Finance.
“Remember, we’re not necessarily only selling at the premium end. Electric vehicles we have are going to be affordable for $30,000,” she said.
Mary Barra, President and CEO of General Motors Company
He mentioned the Equinox EV that Chevrolet had recently announced that would be priced under $30,000. The cheapest is the Tesla Model 3 which starts at $40,000. Right now, the Chevrolet Bolt starts at $31,500 which is cheaper than what Tesla sells its cars for. There will be a new Silverado EV that starts at $39,900 and there are also cars like the Cadillac Lyric and GMC Hummer EVs that start at $58,795 and $79,995.
Meanwhile, Tesla has gone back on plans to launch the $25,000 EV that Musk announced in 2020. As of now, Tesla does not have the bandwidth for such EVs.
0 notes
Tesla has a 14 percent market share in the EV market, while GM is the second largest player in the US with 7.6 percent of the market.
for the latest auto news And AnalysisFollow carandbike.com Twitter, Facebookand ours. subscribe to youtube Channel.