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GM Executive Says Firm Will Be The First To Profit From Making Electric Vehicles

Electric vehicles have formed a branch of industry that has raised a few eyebrows.
2016-present Chevrolet Bolt 1 photo
Photo: General Motors
One of the reasons behind the situation is linked to the fact that automakers do not make a profit out of selling electric vehicles yet. The situation may last as it is for several years, but it will eventually change.

According to a GM executive, the American firm will be the first in the world to make a profitable electric vehicle that will be sold to the public.

While some of you may think of Tesla here, the makers of the Model S are not profitable at the end of the fiscal year. The financial situation of Tesla is still in this position because of investments made to create new products, Elon Musk noted.

Mark Reuss, the executive vice president of product development at GM, knows what he is talking about when referring to electric vehicles. He claims that the conglomerate that has its headquarters in Detroit has the capability and all it takes to sell the first electric car in the world that is profitable to its manufacturer.

Others have tried to do this, but sales results have not matched the development costs. That is the problem being referenced by Mr. Reuss in his interview with The Detroit Bureau.

Instead of thinking ahead, even years ahead, owners of automobiles across the world tend to be shallow, and they have an anxiety of buying an electric vehicle because of fears that have no real justification in most of their trips.

The Chevrolet Bolt has not been named as the EV that will turn a profit for General Motors, but the company is expected to announce and launch several EVs on the market in the years to come. One of the mentioned automobiles will become the anniversary car for General Motors, but it may not be electric this year.
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About the author: Sebastian Toma
Sebastian Toma profile photo

Sebastian's love for cars began at a young age. Little did he know that a career would emerge from this passion (and that it would not, sadly, involve being a professional racecar driver). In over fourteen years, he got behind the wheel of several hundred vehicles and in the offices of the most important car publications in his homeland.
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