Adapting to electrification can be tough for consumers, but manufacturers are also having a hard time finding the right balance between EVs and ICEs in their lineup. General Motors is one such manufacturer, saying $30,000 to $40,000 EVs are not profitable at the moment.
The Michigan-based car manufacturer said lowering the prices of its EV models isn't the smartest move for making a profit. The biggest factor pointed out was the cost of batteries, which get a lot more expensive when automakers decide to add range.
Even the Chevrolet Bolt EV, America's least expensive EV with a starting price of around $27,000, is leaving the lineup at the end of 2023. The Chevrolet Equinox EV is next in line for growing the brand's presence in the electric market, with production expected to begin later this year.
Read Article