Mary’s Mad as Hell! GM CEO shouts out Dire Warning About EV Price War with China
GM has moved into the position where it has overtaken Ford as the No.2 EV car company in the U.S., although it is well behind Tesla. CEO Mary Barra even says that GM’s EV business will be profitable soon, which is more than Ford can say. However, she is very anxious that Chinese EVs will disrupt the industry so much that U.S. car companies could be badly crippled.
Barra said, “It has become a race to the bottom with pricing and the level of subsidies.” This is although GM has made sales advances in the U.S., with its American EV unit sales in the third quarter up 60%, moving it ahead of Hyundai as well as Ford.
Barra’s optimism has to be almost wholly based on tariffs against Chinese EVs, which are now at 100%. This is important because GM cannot match the $15,000 price points companies such as BYD offer in the world’s second-largest nation by population (after India).
However, no matter how optimistic Barra is about her efforts, if Chinese EVs elbow their way into the U.S., they are likely to offer sub-$20,000 cars — even with large tariffs — which GM cannot do.
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