GM took a $1 billion hit in Q2 over tariffs, but profitable EVs continue to be its ‘north star’
Chevy is now the #2 electric vehicle brand in the US. Cadillac is the luxury EV leader. GM is even selling more vehicles in China. Although Trump’s tariffs cost GM an extra $1.1 billion in Q2, the company reassured investors that profitable EVs continue to be its “north star.”
GM reports Q2 2025 earnings as EVs take the spotlight
GM’s electric vehicle sales more than doubled in the second quarter, with strong growth across Chevy, Cadillac, and GMC
With a combined 46,280 EVs sold in Q2, up 111% from the same period last year, GM is starting to close the gap with Tesla in the US.
Led by the Equinox EV, or “America’s most affordable 315+ range EV,” Chevy surpassed Ford and Hyundai to become the second-best-selling electric vehicle brand in the US.
Chevy’s EV sales rose 146% in Q2 and 134% in the first half of 2025 with the electric Equinox, Blazer, and Silverado rolling out.
Cadillac, which now offers a full lineup of electric SUVs, claims to be the luxury EV leader in the US. However, GM doesn’t include Tesla as a luxury rival due to its pricing structure. Over 25% of Cadillac’s sales in Q2 were EVs.
Cadillac’s EV lineup now includes the entry-level Optiq, midsize Lyriq, the three-row Vistiq, and massive Escalade IQ.
Even GMC is selling more electric vehicles. GMC now offers the Sierra EV pickup alongside the Hummer EV pickup and SUV.
After releasing Q2 earnings on Tuesday, GM’s CEO, Mary Barra, said, “Despite slower EV industry growth, we believe the long-term future is profitable electric vehicle production, and this continues to be our north star.”
GM beat Wall St estimates, posting $47.1 billion in revenue in Q2 2025, but its profits (EBIT) slipped 35% to $3.04 billion, down from $4.43 billion in Q2 2024. The company stated that Trump’s tariffs had a $1.1 billion net impact in the second quarter, but it expects the impact to be even greater in the third quarter.
Despite the impact, GM reaffirmed its full-year 2025 guidance, which was lowered in May. That includes an extra $4 billion to $5 billion in costs from the tariffs.
The company said it’s “making solid progress to mitigate at least 30% of this impact through manufacturing adjustments, targeted cost initiatives, and consistent pricing.”
GM announced a $4 billion investment last month to shift North American production as it looks to overcome the impact. It’s also expanding its partnership with LG Energy Solution to build lower-cost LFP EV batteries at its joint venture (Ultium Cells) plant in Tennessee.
Later this year, GM is expected to introduce the new Chevy Bolt EV, featuring a longer driving range, faster charging, and additional features. It will be the first of a “family of Bolts,” which will include an even lower-priced model.
Like most automakers in the US, GM is offering significant discounts on electric vehicles, capitalizing on federal incentives, including the $7,500 tax credit, which is set to expire at the end of September.
Starting at under $35,000 with a range of up to 319 miles on a single charge, the Chevy Equinox EV is the third-best-selling EV in the US so far this year. Who knew an affordable EV with over 300 miles of range would sell?
With leases starting at just $279 a month, the Chevy Equinox EV is hard to pass up right now. If you want to test out one of GM’s electric vehicles for yourself, you can use our links below to find Chevy, Cadillac, and GMC EVs near you.
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Lucid’s electric minivan can outsprint the Chevy Corvette Z06, and it has more interior space than a Ford Explorer. Is the Lucid Gravity really the “ultimate uncompromising SUV?”
Lucid Gravity SUV is faster than a Corvette Z06
Lucid’s electric SUV is impressive inside and out. The Gravity provides up to 450 miles of driving range, ultra-fast charging (200 miles in under 11 mins), and it even offers up to 120 cubic feet of cargo space. That’s more than the Ford Explorer (87.8 cu ft).
It’s also faster than most sports cars. The Grand Touring trim has up to 845 hp, good for a 0 to 60 mph sprint in just 3.4 seconds, but the Dream Edition takes it to another level.
Powered by dual electric motors, the Lucid Gravity Dream Edition boasts 1,070 hp. To see how Lucid’s minivan stacks up against the competition, Car and Driver nabbed one for testing.
On the test track, the Lucid’s minivan covered a quarter-mile in just 10.6 secs, beating a Chevrolet Corvette Z06 to 150 mph by nearly three seconds.
According to Car and Driver, the Gravity didn’t just impress in the quarter-mile, “it was a beast in every acceleration metric.” Lucid’s SUV hit 30 mph in 1.4 seconds, 70 mph in 3.7 secs, and topped 100 mph in just 5.9 seconds.
Dave Vanderwerp, the testing director who took the Gravity for a spin, said the electric SUV “gets a sort of second wave of thrust starting around 60 mph.”
With a quarter-mile of just 10.6 secs, Lucid’s Gravity is the fastest SUV they have ever tested, beating out the Rivian Tri-Motor Max (11.1 secs), BMW iX M60 (11.5 secs), and Mercedes-AMG EQE53 SUV.
Although the Rivian’s 850 hp R1S Tri-Motor beat the Gravity to 60 mph, Lucid’s SUV sprinted ahead in the quarter-mile, traveling nearly 20 mph faster.
It was also faster than gas-powered super SUVs, including the Lamborghini Urus Performante (11.2 secs) and Porsche Cayenne Turbo GT (11.2 secs). However, they have yet to test a Tesla Model X Plaid, so that could change the game.
In what it called the “1,000 hp mom missiles” drag race, Hagerty recently pitted the Gravity Dream Edition against the Audi RS Q8 Performance, Range Rover Sport SV, Porsche Macan Turbo Electric, Rivian R1S Quad, and Porsche Panamera Turbo S E-Hybrid.
The result was a three-way tie between Lucid’s Gravity, the Porsche Panamera Turbo, and Rivian R1S Quad hitting the quarter-mile in 10.5 seconds.
The Lucid Gravity is available to order starting at $94,900 in the US. Later this year, Lucid is launching the lower-priced Touring trim, priced from $79,900.
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Solar provided over 11% of total US electrical generation in May, while wind + solar produced over one-fifth, and the mix of all renewable energy sources generated nearly 30%, according to data just released by the US Energy Information Administration (EIA).
Solar continues to set new records
Solar continues to be the fastest-growing source of US electricity, according to EIA’s latest “Electric Power Monthly” report (with data through May 31, 2025), which the SUN DAY Campaign reviewed.
In May alone, electrical generation by utility-scale solar (>1-megawatt (MW)) increased by 33.3% year-over-year, while “estimated” small-scale (e.g., rooftop) solar PV increased by 8.9%. Combined, they grew by 26.4% and provided over 11% of US electrical output during the month.
For the first time ever, the mix of utility-scale and small-scale solar produced more electricity than wind: solar – 38,965 gigawatt-hours (GWh); wind – 36,907-GWh.
Moreover, utility-scale solar thermal and photovoltaic expanded by 39.8% while that from small-scale systems rose by 10.7% during the first five months of 2025 compared to the same period in 2024. The combination of utility-scale and small-scale solar increased by 31.1% and was nearly 8.4% of total US electrical generation for January to May – up from 6.6% a year earlier.
Solar-generated electricity easily surpassed the output of US hydropower plants (6.1%). Solar now produces more electricity than hydropower, biomass, and geothermal combined.
Wind is also on the rise in 2025
Wind produced 12.2% of US electricity in the first five months of 2025. Its output was 3.9% greater than the year before, almost double that produced by hydropower.
During the first five months of 2025, electrical generation by wind + utility-scale and small-scale solar provided 20.5% of the US total, up from 18.7% during the first five months of 2024. Solar + wind accounted for nearly 21.5% of US electrical output in May alone.
During the first five months of this year, wind and solar provided 26.2% more electricity than coal, and 15.4% more than US nuclear power plants. In May alone, the disparity increased further when solar + wind outproduced coal and nuclear power by 55.7% and 22.1%, respectively.
All renewables produced almost 30% in May
The mix of all renewables – wind, solar, hydropower, biomass, geothermal – produced 9.7% more electricity in January to May than they did a year ago (7.6% more in May alone) and provided 28.1% of total US electricity production compared to 26.5% 12 months earlier.
Electrical generation by all renewables in May alone provided 29.7% of total US electrical generation. Renewables’ share of electrical generation is now second only to that of natural gas, whose electrical output actually dropped by 5.9% during the month.
“Solar and wind continue to grow, set new records, and outproduce both coal and nuclear power,” said Ken Bossong, the SUN DAY Campaign’s executive director. “Consequently, the ongoing Republican assault against renewables is not only misguided and illogical but also a good example of shooting oneself in the foot.”
Read more: FERC: Solar + wind made up 96% of new US power generating capacity in first third of 2025
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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Environment
Podcast: Tesla’s disturbing earnings, self-driving challenge, solid state batteries, and more
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Tesla’s disturbing earnings, a new self-driving challenge, solid-state batteries, and more.
The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.
Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:
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