GM's CEO Mary Barra emphasized that 2024 will see a turnaround for the company's electric vehicle plans, highlighting improvements in profitability and declining losses associated with EV production.
Barra asserted that GM aims for 'positive variable profit' in the current quarter, indicating a focus on overcoming previous setbacks and enhancing the firm's EV profitability.
The reduction in costs associated with raw materials and battery production, paired with increased production volume, offers a promising environment for GM to ascend in the EV market.
The ability to control battery supply chains and production methods is crucial to profitability, and GM is making significant moves to capture this control, indicating a strategic pivot.
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