Meanwhile, GM says it’s ramping up EVs as it enjoys higher-than-expected revenue, profits in the second quarter.
covers Tesla’s planned insurgency into the Bolt end of the market. Tesla management plans to meet with India's commerce minister this month to discuss an assembly plant there for a new, $24,000 EV model,reported Monday. Tesla also would have to build such a car in North America, however, to qualify for up to $7500 in federal US tax credits critical for that price range.Bolt has a very loyal following, with 70% of its customers new to GM, Barra said.
“To address pent-up demand among our Hummer EV customers, we are planning to increase second-half production by thousands of units,” Barra said. Its target is to double EV production in the second half, to 100,000 units, for a total of 150,000 in 2023. Yes, GM still plans to build EV capacity in North America to 1 million units by 2025 as it cuts battery cell cost to $87 per kilowatt-hour.GM customers will have access to 30,000 DC fast-charging stations in early 2024. It will integrate with Tesla’s North American Charging Standard beginning in 2025.
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