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GM CEO Admits EVs Are Unprofitable – So She Wants More Taxpayer Money

We warned that GM was making a BIG mistake in going all in on EVs.  Now Mary Barra concedes there’s no profitability because they are so expensive to build – and people don’t want them. This is quite an admission from a CEO who had repeatedly promised to be making money on mass-market EVs by now:

After admitting that Tesla is currently leading, Barra went on to say that she just doesn’t see high margins on EVs right away. She emphasized that this is why incentives are important, to get vehicles into that $30,000 to $40,000 price range that will work for more buyers. Barra also noted that she does finally see EVs taking over ICEs when it comes to profitability, but not until the end of the decade or longer.

It will take until 2030 “or longer” and taxpayers should just keep ponying up endless subsidies? That’s exactly what the left said about wind and solar power – that they just needed five years of subsidies to be profitable. Now some 25 years later wind and solar are still unprofitable and more addicted than ever to lavish taxpayer handouts.

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