this post was submitted on 01 Dec 2023
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Electric Vehicles

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Automakers must build cheaper, smaller EVs to spur adoption, report says (arstechnica.com)
submitted 11 months ago by Kata1yst@kbin.social to c/evs@lemmy.world
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16.5% of new car sales are compact crossovers, but only 6% of those are EVs.

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[โ€“] NotMyOldRedditName@lemmy.world 0 points 11 months ago* (last edited 11 months ago)

They can't do it profitably, so repeatedly saying this is pointless.

They need to learn how to make EVs profitably first. Then they can make a large scale smaller one.

Otherwise they'll just bankrupt themselves.

Edit below

GM is finally starting to say their EVs will be profitable in 2024 and that's with higher margin vehicles. And I'm still skeptical it'll be true, but hopefully they can pull if off.

https://www.motor1.com/news/698833/gm-evs-become-profitable-mid-2024/

General Motors is facing the formidable challenge of steering its business into the new era while grappling with financial setbacks. GM's top finance executive, Paul Jacobson, acknowledged earlier this week that the company's current electric vehicle lineup is operating at a financial loss. However, he remains optimistic, asserting that the tide will turn by the second half of next year, with EVs projected to generate profits surpassing their production costs.