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How is GM competing in the electric car market?
I know GM used to make electric cars in the ‘90s, and then they all got crushed. How does GM compete in the electric car market today?
Marlee John · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You’re right! GM was once a leader in the EV industry until their cars were mysteriously taken off the market despite public interest.
The electric car industry is booming, especially as manufacturers are in a slow race to produce the most economic, user-friendly vehicle with the highest driving range. GM, who once had the technology of their first car, is now competing with Tesla’s 300-mile range luxury Model S.
So far the company is doing fairly well in the market. Last year, at 25,000 vehicles, GM ranked third behind Tesla and Ford in the U.S. for EV sales.
The Chevrolet has a plan to completely stop selling fuel-burning cars by 2035 and switch over to an all-electric car fleet starting with at least 30 new vehicles in the next 3 years. Some experts think a switch to all EVs is risky, however with great risk can come great reward.
Mary Barra, the CEO and Chair of General Motors, told CBNC that “GM can ‘absolutely’ beat Tesla by 2025”. Whether or not this is true, only time will tell. Perhaps it is an attempt to redeem the time since GM’s fleet of Impact EVs was crushed in the junkyard back in the ‘90s.
Whether you drive a Chevrolet or a Tesla, you’ll need
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, the number one car insurance comparison app can help you to find the best deals on your insurance policy. MORE: GM’s Latest Electric Vehicle Is Shooting for the Moon, Literally
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