General Motors CEO Mary Barra is still committing to taking the automaker fully electric by 2035, even as third-quarter earnings show Electric Vehicles (EVs) are still not profitable.
“That is the plan we’re still executing,” Barra told the New York Times of GM’s plans to fully transition to EVs by 2035 regardless of who is in the White House.
Barra first made the commitment in 2021 after President Joe Biden and Vice President Kamala Harris took office. The commitment, though, has not made EVs any more profitable.
In a third-quarter letter to shareholders this week, GM executives announced that its EV projects remain unprofitable, Fox Business reports:
“In the third quarter, we grew U.S. retail market share with above-average pricing, well-managed inventories and below-average incentives. In China, sales improved from the second quarter, and dealer inventory fell sharply. In addition, we remain on track to reach our 2024 EV production and profitability targets,” the company wrote.
“This is a function of our investments in a dedicated EV platform, U.S. battery cell manufacturing and flexible assembly capacity. Most of our competitors lack these advantages. And no one can match the depth and breadth of our strategic EV portfolio,” the statement continued.
Barra’s tenure as CEO has been plagued by layoffs. In August, she announced that about 1,000 software employees, including 600 workers in Warren, Michigan, and others in California and Texas, would be laid off.
The following month, Barra said almost 1,700 GM employees at its Fairfax Assembly plant in Kansas would be laid off — including close to 700 full-time employees and about 250 temporary employees.
The first round of GM layoffs in Kansas will begin next month, while the second round of layoffs will start at the beginning of next year.
John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.
