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GM CEO Barra leans on price parity to take out Tesla in race to EV superiority
General Motors CEO Mary Barra has plans to catch Tesla by mid-decade, and she plans to lean on cheaper electric vehicles that are more comparable in price to gas cars to do it. Ultimately, Barra plans to be out-manufacturing and out-selling everyone, including Tesla, by the mid-2020s.
“We’re taking all the steps to do it,” Barra said on Yahoo! Finance earlier this week. “We have said that by mid-decade, we will be selling more EVs in this country than anyone else, including Tesla.”
A lofty goal in its own right, GM wants to outpace the world’s most successful electric vehicle company in the matter of a few years, outmaneuvering the Austin-based car manufacturer and its vocal CEO Elon Musk. More affordable cars are the key to the plan, which Barra solidified during the interview. You have to be able to offer people non-luxury cars and non-luxury prices, something Barra seems to believe Tesla is not able to do currently.
“Remember, we’re not necessarily just selling at the premium end,” perhaps stabbing at Tesla’s lineup, which has gone from sub-$40,000 to a shade below $47,000 for its most affordable Model 3 trim level. “We’re going to have electric vehicles affordable at $30,000.”
Tesla has upped prices on its electric vehicles for over a year with unpredictable-but-steady cost increases. Earlier this year, CEO Elon Musk blamed “inflation pressure” for the rises in price throughout Tesla’s lineup. Nevertheless, the company has not necessarily felt the effects of the inflation as demand continues to funnel in at healthy levels. Tesla reported its biggest quarter in Q1 with 310,048 vehicle deliveries. It also demolished Wall Street consensus estimates on its financial spreadsheet, beating EPS projections by nearly $1 and beating revenue estimates by nearly $1 billion. “Basically, the future is very exciting. I’ve never been more optimistic or excited about Tesla’s future than I am right now,” Musk said on the call.
While GM offers several affordable electric options, starting with the $31,500 Chevrolet Bolt EV and the $39,900 Chevrolet Silverado EV, which is expected to hit the market in Spring 2023, the automaker hits other sectors too. Its GMC Hummer EV offers high-powered luxury functionality, but GM has struggled with getting it to customers. It also has the Cadillac LYRIQ, another luxury vehicle that costs $58,795. These two vehicles are at premium price points, but that is not GM’s ultimate focus.
“We’ve really worked to listen and understand what the customer is looking for,” Barra said, which is perhaps one reason GM chose to partner with Honda on a series of EV models that could hit the market in 2027.
GM is fourth in the global EV market share with 7.6 percent. Tesla led 2021 with nearly 14 percent of the global EV market.
As for the race to EV superiority, Barra believes it is more of a marathon than a sprint, vowing to catch up to Musk and eventually pass him.
“I think it’s a little bit longer game.”
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Armored Tesla Cybertruck “War Machine” debuts at Defense Expo 2025
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Tesla Megapacks chosen for 548 MWh energy storage project in Japan
Tesla plans to supply over 100 Megapack units to support a large stationary storage project in Japan, making it one of the country’s largest energy storage facilities.
Tesla’s Megapack grid-scale batteries have been selected to back an energy storage project in Japan, coming as the latest of the company’s continued deployment of the hardware.
As detailed in a report from Nikkei this week, Tesla plans to supply 142 Megapack units to support a 548 MWh storage project in Japan, set to become one of the country’s largest energy storage facilities. The project is being overseen by financial firm Orix, and it will be located at a facility Maibara in central Japan’s Shiga prefecture, and it aims to come online in early 2027.
The deal is just the latest of several Megapack deployments over the past few years, as the company continues to ramp production of the units. Tesla currently produces the Megapack at a facility in Lathrop, California, though the company also recently completed construction on its second so-called “Megafactory” in Shanghai China and is expected to begin production in the coming weeks.
READ MORE ON TESLA MEGAPACKS: Tesla Megapacks help power battery supplier Panasonic’s Kyoto test site
Tesla’s production of the Megapack has been ramping up at the Lathrop facility since initially opening in 2022, and both this site and the Shanghai Megafactory are aiming to eventually reach a volume production of 10,000 Megapack units per year. The company surpassed its 10,000th Megapack unit produced at Lathrop in November.
During Tesla’s Q4 earnings call last week, CEO Elon Musk also said that the company is looking to construct a third Megafactory, though he did not disclose where.
Last year, Tesla Energy also had record deployments of its Megapack and Powerwall home batteries with a total of 31.4 GWh of energy products deployed for a 114-percent increase from 2023.
Other recently deployed or announced Megapack projects include a massive 600 MW/1,600 MWh facility in Melbourne, a 75 MW/300 MWh energy storage site in Belgium, and a 228 MW/912 MWh storage project in Chile, along with many others still.
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Tesla highlights the Megapack site replacing Hawaii’s last coal plant
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Elon Musk responds to Ontario canceling $100M Starlink deal amid tariff drama
Ontario Premier Doug Ford said, opens new tab on February 3 that he was “ripping up” his province’s CA$100 million agreement with Starlink in response to the U.S. imposing tariffs on Canadian goods.
Elon Musk company SpaceX is set to lose a $100 million deal with the Canadian province of Ontario following a response to the Trump administration’s decision to apply 25 percent tariffs to the country.
Starlink, a satellite-based internet service launched by the Musk entity SpaceX, will lose a $100 million deal it had with Ontario, Premier Doug Ford announced today.
Starting today and until U.S. tariffs are removed, Ontario is banning American companies from provincial contracts.
Every year, the Ontario government and its agencies spend $30 billion on procurement, alongside our $200 billion plan to build Ontario. U.S.-based businesses will…
— Doug Ford (@fordnation) February 3, 2025
Ford said on X today that Ontario is banning American companies from provincial contracts:
“We’ll be ripping up the province’s contract with Starlink. Ontario won’t do business with people hellbent on destroying our economy. Canada didn’t start this fight with the U.S., but you better believe we’re ready to win it.”
It is a blow to the citizens of the province more than anything, as the Starlink internet constellation has provided people in rural areas across the globe stable and reliable access for several years.
Musk responded in simple terms, stating, “Oh well.”
Oh well https://t.co/1jpMu55T6s
— Elon Musk (@elonmusk) February 3, 2025
It seems Musk is less than enthused about the fact that Starlink is being eliminated from the province, but it does not seem like all that big of a blow either.
As previously mentioned, this impacts citizens more than Starlink itself, which has established itself as a main player in reliable internet access. Starlink has signed several contracts with various airlines and maritime companies.
It is also expanding to new territories across the globe on an almost daily basis.
With Mexico already working to avoid the tariff situation with the United States, it will be interesting to see if Canada does the same.
The two have shared a pleasant relationship, but President Trump is putting his foot down in terms of what comes across the border, which could impact Americans in the short term.
Armored Tesla Cybertruck “War Machine” debuts at Defense Expo 2025
Tesla Megapacks chosen for 548 MWh energy storage project in Japan
