GM Expects To Overtake Tesla In Less Than 3 Years

The race for EV dominance has been in full swing for a while now, but major US manufacturers are still lagging behind when it comes to their electric portfolio. Production delays and ongoing parts shortages plague the industry, but GM believes that it will outsell the current market leader, Tesla, by 2025. In a recent interview with the Associated Press, Barra said that she believes GM can beat Tesla at its own game, especially in the higher-priced specialty vehicle, and affordable long-range markets.

That is some big talk from a company that, like the rest of the industry, is being plagued by struggling sales figures and an economy that's looking more and more likely to be heading into a recession. That, and the fact that it has been reliant on ICE powerplants for over 110 years. While many manufacturers believe that the writing is on the wall for Tesla, the EV giant is still miles ahead of companies like GM. Last year GM sold around 25,000 electric vehicles, which is less than a tenth of the 352,000 cars Tesla managed to sell.

While Tesla continues to expand in Europe and China, local EV sales are slower to take off, with only five percent of local sales figures coming from EV cars. "To really get to 30, 40, 50% EVs being sold, you have to appeal to people that are in that $30,000 to $35,000 price range," Barra said.

As part of GM's plan for EV supremacy, the company is looking at two simple strategies that should prove to work rather effectively: it wants to cut down on pricing, and introduce more models. Simple, right?

GM has already announced that it will be cutting the starting price of the Chevrolet Bolt to around $26,000 later in 2022, and new models such as the 300-mile Chevy Equinox should be making a splash in 2023 with a price tag of only $30,000.

GM is also going full speed ahead with its range of electric SUVs and pickups, including the highly-anticipated Silverado EV pickup, Cadillac EV SUV, and recently unveiled Chevrolet Blazer EV. These announcements will have Tesla scared, as it struggles to offer an entry-level EV. The Model 3, one of its most popular models, and its cheapest, still starts at nearly $50,000.