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GM plans to take on Tesla with electric cars that will make a profit

Electric vehicle specialist Tesla Inc has been struggling to launch its more affordable electric cars and recently reported its largest-ever quarterly loss


General Motors Co plans to launch a new family of electric vehicles in 2021 that will cost less to build and make a profit for the U.S. No. 1 automaker, Chief Executive Mary Barra told investors on Wednesday. Her plans represent a direct challenge to money-losing electric vehicle specialist Tesla Inc, which is struggling to get its more affordable, high-volume Model 3 launched and recently reported its largest-ever quarterly loss. "We are committed to a future electric vehicle portfolio that will be profitable," Barra said at the Barclays Global Automotive ...

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First Published: Thu, November 16 2017. 09:22 IST