Last year for Chevy Bolt!

[JSH]

Originally Posted by Isaac Zachary

Will they be able to make money on the Equinox EV?

Mary Barra (GM CEO) says no - but they will lose less money than on the Bolt because the Equinox battery costs 40% less than the Bolt battery.

She also said that GM doesn't expect to make money on their EV program as a whole until 2025 and even then they will lose money on EVs prices less than $40,000. GM expects EVs priced in the $30 - $40,000 range to become profitable towards the end of the decade as battery prices fall.

She didn't say if ZEV credits are included in that calculation. All automakers face a $5,000 fine per vehicle the fall short of meeting CARBs ZEV sales percentage. The ZEV ramp up is shown below

[redpoint5]

As I understand, Tesla turned a marginal profit at the $40k price point several years ago. I believe that does not factor in the ZEV credits.

Some folks on the Bolt forum claim it was profitable, but I find that hard to believe. Chevy was having to price them down to ~$24k at one point.

[Isaac Zachary]

I saw someone on YouTube yesterday that said the CEO of GM hinted at a future second gen Bolt built on the newest Ultium platform.

the Electric Viking

[rmay635703]

He hinted, she said little

[JSH]

Originally Posted by redpoint5

As I understand, Tesla turned a marginal profit at the $40k price point several years ago. I believe that does not factor in the ZEV credits.

Some folks on the Bolt forum claim it was profitable, but I find that hard to believe. Chevy was having to price them down to ~$24k at one point.

Nobody outside of Tesla knows Tesla's profit margins on their vehicles alone or their break-even point. That info is simply not publicly available. The numbers they talk about during the press conferences use non-standard accounting. The numbers they file with the SEC using standard accounting don't break out individual product lines: automotive, solar, battery storage, and financial services.

[Piotrsko]

Originally Posted by rmay635703

He hinted, she said little

Seems to be a trend for her. I suppose you cannot critique what is not said

[JSH]

Originally Posted by Piotrsko

Seems to be a trend for her. I suppose you cannot critique what is not said

I listened to the interview. Barra said she has been driving a Bolt EUV as her company car and loved it. Then:

Ryssdal: So why are you stopping making it?

Barra: Because it’s our second-generation technology. The difference between our second generation and third generation, which is Ultium, is a 40% reduction in battery costs. And we’re leveraging the names of our vehicles that are well understood and known in industry. People, you know, who drive an Equinox today will understand what an Equinox EV, what that delivers to them. But, you know, Bolt is something that has built up a lot of loyalty and equity. So I can’t say more because I don’t discuss future product programs. But, you know, it was primarily a move from second generation to third generation. But that’s [an] important vehicle in our portfolio.

That is Barra being a grown up and not falling for the bait. Stay on message - and talk about the cars you have coming out THIS year for sale to the public not something that might be years in the future. Don't close the door but also don't start talking about something that may not even exist and if it does exist isn't ready to be revealed to the public. Classic CEO speak.

[redpoint5]

Yeah, I appreciate a surprise announcement about a new product available immediately much more than a product reveal half a decade before it's available.