Numbers and statistics are difficult to interpret without context. General Motors appeared to have a successful 2023 in the electric vehicle market as it sold more EVs than ever before. However, the majority of these sales were outdated Chevrolet Bolts, and GM faced challenges with quality and the launch of its modern electric vehicles.
2024 is now seen as a “do-over” year for GM’s EVs, where the company aims to achieve profitability from their sales.
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Can GM Be A Player In The Electric Future, Or Not?
GM announced plans to go all-electric by 2035, but the Ultium EV platform has been plagued with issues and delays. Now, facing more competition, GM has to navigate uncertain demand in the EV market.
GM outlined its EV plans for this year during the Q4 2023 earnings call. The automaker reported impressive financial results for 2023, with expectations of continued profitability in 2024.
However, GM’s primary challenge lies in the future, especially with its EV endeavors with the Ultium platform.
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