GM CEO says Tesla has the lead in electric cars, doesn’t see profitable $30-40K EVs until end of decade
GM CEO Mary Barra says that she doesn’t see profitable electric cars in the $30,000 to $40,000 range until the end of the decade or “maybe even later.”
Here’s why she is wrong and why it doesn’t even matter.
At a Sanford Bernstein conference, Barra commented on the current EV market and admitted that Tesla has the lead in it, but she hinted that she believes GM can catch up (via Reuters):
Barra acknowledged that Tesla Inc has the lead in EV technology, profitability and scale, but said that lead is not permanent.
She added about EV profitability:
EV battery costs are still too high to build profitable mass-market vehicles, that sell for $30,000 to $40,000, Barra said. But she predicted EV and combustion vehicle costs will equalize “sometime in the latter part of this decade… maybe a little longer.”
That’s a strange comment considering GM is currently selling the Chevy Bolt EV starting at $26,500 and has promised a starting price of around $30,000 for the Equinox EV.
Though the Bolt EV is going out of production at the end of the year, it was never clear whether or not GM was making any money off of it.
But the Equinox EV is coming to the market this year, and while the base version starting at around $30,000 is not expected to come soon, it is expected to come way before the end of the decade.
Electrek’s Take
First off, I think we are going to see several profitable EV options in the $30,000 to $40,000 range in the next few years.
I thought that GM itself would be building one of them, the Equinox EV, but now it almost sounds like Barra is saying that it won’t be profitable at the price.
Tesla already sells the Model 3 starting at $37,000 before incentives, and while we don’t know the exact gross margin on it, I’d bet it is slightly profitable.
But anyway, you don’t even need a profitable EV at less than $40,000 right now. You have to look at EVs within the broader auto market. Inflation has pushed prices up across the board, and now, the average new car sale price in the US is at an eye-watering $48,000.
We can’t discard this information. That’s what electric vehicles are competing again on average.
When you account for the overall cost of ownership, thanks to gas savings, electric vehicles have already won.
If you see an automaker complaining about the claim that “electric vehicles are not profitable,” what they are really saying is that they can’t make a compelling profitable EV that buyers want right now. If they can’t, it doesn’t mean others can’t.
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Following approval from Transport Canada, EV startup Workhorse will be bringing the W56 and W750 model electric delivery vans to commercial truck dealers in Canada as early as this spring.
Workhorse first showed its W56 medium-duty electric truck at Indiana’s Work Truck Week in 2023, and has sold the trucks to logistics and delivery companies like FedEx and Pride Group – which ordered more than six thousand of the electric vans in 2021, and continues to expand its fleet.
“This is a major step forward for Workhorse,” says Josh Anderson, Workhorse’s chief technology officer in a press statement. “Pre-clearance from Transport Canada opens up a large new market for our products throughout Canada, including with fleets that operate across borders in North America.”
As part of the approval process, Workhorse completed its registration as a foreign manufacturer under Transport Canada’s Appendix G clearance program. Transport Canada confirmed the vans’ compliance with Canadian Motor Vehicle Safety Standards (CMVSS) for both vehicles – but it remains to be seen if and how the latest tariff-driven trade war between the Trump Administration’s US and Canada will impact Workhorse’s plans to expand throughout North America.
Despite that uncertainty, Workhorse execs remain upbeat. “We’re excited that our electric step vans can now reach Canadian roads and highways, providing reliable, zero-emission solutions that customers can depend on,” added Anderson.
Canadian pricing has yet to be announced.
Electrek’s Take
There’s no other way to say it: the Trump/Musk co-presidency is disrupting a lot of companies’ plans – and that’s especially true across North American borders. But in all this chaos and turmoil there undoubtedly lies opportunity, and it will be interesting to see who ends up on top.
SOURCE | IMAGES: Workhorse, via Electric Autonomy Canada.
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![Liebherr developing giant, 140-ton Segway-style autonomous haulers [video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/03/operational-area-earth-moving-copy.jpg?resize=1200,628&quality=82&strip=all&ssl=1)
The new Liebherr S1 Vision 140-ton hauler is unlike any heavy haul truck currently on the market – primarily because the giant, self-propelled, single-axle autonomous bucket doesn’t look anything like any truck you’ve ever seen.
Liebherr says its latest heavy equipment concept was born from a desire to rethink truck design with a focus only on core functions. The resulting S1 Vision is primarily just a single axle with two powerful electric motors sending power to a pair of massive airless tires designed carry loads up to 131 tonnes (just over 140 tons).
The design enables rapid maintenance, as important components easily accessible for quick servicing. Wear parts can be replaced efficiently, and the electric drive significantly reduces maintenance work. This helps to minimise downtimes and increases operational efficiency.
LIEBHERR
Because of its versatility, durability, and ability to perform zero-turn maneuvers that other equipment simply can’t, the Liebherr S1 Vision can be adapted for various applications, including earthmoving, mining, and even agriculture. There’s also a nonzero chance of this technology finding applications supporting other on-site equipment through charging or fuel delivery.
The S1 accomplishes that trick safely with the help of an automatic load leveling system that ensures maximum stability, even on bumpy or rough terrain. The company says this technology significantly reduces the risk of tipping while providing smooth and secure operation across various environments.
Liebherr will show the S1 Vision at this year’s bauma equipment exhibition in Munich, Germany. The design has already been nominated for the bauma Innovation Award in the Mechanical Engineering category – and my money’s on it winning.
Electrek’s Take
This is such goofy, stupid fun that if it was wheelbarrow-sized I’d have three of them. I can’t imagine the insanity of watching one of these things roll across a job site with 100 tons of granite in the bucket – and will have nightmares about the kind of damage it could do if it flipped out like a poorly made Chinese hoverboard clone whipping a toddler across a living room … which, in fairness, would probably get a billion views on Instagram or TikTok or whatever.
I can’t wait.
SOURCE | IMAGES: Liebherr.
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The HD arm of Hyundai has just released the first official images of the new, battery-electric HX19e mini excavator – the first ever production electric excavator from the global South Korean manufacturer.
The HX19e will be the first all-electric asset to enter series production at Hyundai Construction Equipment, with manufacturing set to begin this April.
The new HX19e will be offered with either a 32 kWh or 40 kWh li-ion battery pack – which, according to Hyundai, is nearly double the capacity offered by its nearest competitor (pretty sure that’s not correct –Ed.). The 40kWh battery allows for up to 6 hours and 40 minutes of continuous operation between charges, with a break time top-up on delivering full shift usability.
Those batteries send power to a 13 kW (17.5 hp) electric motor that drives an open-center hydraulic system. Hyundai claims the system delivers job site performance that is at least equal to, if not better than, that of its diesel-powered HX19A mini excavator.
To that end, the Hyundai XH19e offers the same 16 kN bucket breakout force and a slightly higher 9.4 kN (just over 2100 lb-ft) dipper arm breakout force. The maximum digging depth is 7.6 feet, and the maximum digging reach is 12.9 feet. Hyundai will offer the new electric excavator with just four selectable options:
- enclosed cab vs. open canopy
- 32 or 40 kWh battery capacity
All HX19es will ship with a high standard specification that includes safety valves on the main boom, dipper arm, and dozer blade hydraulic cylinders, as well as two-way auxiliary hydraulic piping allows the machine to be used with a range of commercially available implements. The hydraulics needed to operate a quick coupler, LED booms lights, rotating beacons, an MP3 radio with USB connectivity, and an operator’s seat with mechanical suspension are also standard.
Like its counterparts at Volvo CE, the new Hyundai excavator uses automotive-style charging ports to take advantage of existing infrastructure at fleet depots and public charging stations. More detailed specifications, dimensions, and pricing should be announced by bauma.
Electrek’s Take
The ability to operate indoors, underground, or in environments like zoos and hospitals were keeping noise levels down is of critical importance to the success of an operation makes electric equipment assets like these coming from Hyundai a must-have for fleet operators and construction crews that hope to remain competitive in the face of ever-increasing noise regulations. The fact that these are cleaner, safer, and cheaper to operate is just icing on that cake.
SOURCE | IMAGES: HD Hyundai; via Construction Index, Equipment World.
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