Why GM is sticking with EVs as rivals pivot to hybrids
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General Motors Co. is sticking with electric vehicles (EVs) despite a decline in sales and a shift towards hybrids by rival brands. The company predicts EV sales will eventually take off and is working to make EV batteries cheaper while generating cash from gas vehicles.
General Motors Co. is committed to electric vehicles (EVs) despite a decline in sales. The company predicts EV sales will increase in the long term. Rival brands such as Toyota and Ford are investing in hybrids, but GM is focusing on making EV batteries cheaper. GM generates cash from selling gas vehicles, including full-sized pickups and SUVs. The company has invested billions in EVs and is limiting resources for hybrids. GM's strategy is to be patient and focus on EVs for long-term growth.
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