Chevrolet Forecasts EV Profitability
If you ask the leadership team at General Motors about the future, they would probably tell you it looks pretty green. The automaker has made producing electric vehicles a huge part of its plans, which is a considerable risk. However, General Motors sees profitability on the horizon and it wants to make sure it keeps up with upcoming trends.
When an automaker builds an EV, it’s difficult to make a profit because of research expenses. This means investors might be wary of an electric-heavy strategy. GM CEO Mary Barra put their worries to rest earlier this year by claiming that GM plans for its EV vehicles to be profitable by 2021 thanks to a new architecture.
Called the BEV3, engineers at GM created the platform to support different vehicle types and classes with electric power and structural integrity. This isn’t just a dream, either, as it’s ready for a market debut in an upcoming Cadillac EV. From there, the platform will grow and move into new EVs for Chevrolet.
If all goes as planned, GM hopes to introduce at least 20 new EV models to the world by 2023, with each of them having a minimum range of 300 miles. While you can’t buy BEV3 cars yet, contact us at Huber Chevrolet to learn more about the electric vehicles we have in stock, like the Chevy Bolt.