General Motors to make profitable electric cars, says CEO Mary Barra

General Motors prepares to introduce a new family of electric vehicles in 2021 that will be less expensive to build and earn a profit for the U.S. biggest automaker, CEO Mary Barra informed investors on Wednesday.

Barra’s strategy represent a direct obstacle to money-losing electric automaker Tesla, which is having a hard time to obtain its more budget friendly, high-volume Model 3 released and just recently reported its largest-ever quarterly loss.

“We are committed to a future electric vehicle portfolio that will be profitable,” Barra stated at the Barclays Global Automotive Conference in New York.

Electric and autonomous vehicles – understood in the industry as EVs and AVs – are commonly viewed as the keystones of future transport, however Tesla, Ford Motor and other producers are still exercising ways to generate income on them.

GM is seeking to break out of that pattern by establishing an all-new electric vehicle platform that will accommodate several sizes and segments, to be offered by various GM brands in the United States and China, Barra stated, adding new information to GM’s aggressive electrification technique.

In early October, General Motors stated it prepared to introduce 20 new electric automobiles by 2023, however did not provide more details.

In contrast, competing Ford has stated it plans to present 13 “electrified” vehicles – primarily hybrid gasoline-electric models – by 2022.