Mary Barra says GM is well-positioned despite the economy with new EV launches
General Motors leader and CEO Mary Barra talked about the automaker’s upcoming electric vehicle plans, saying the company is well-positioned to weather an economic storm in an interview. GM is launching several EV models and supporting energy products that Barra believes will see high demand, no matter the state of the economy.
With interest rates climbing at a historic rate, many are wondering how it will impact the high-flying auto market.
In an interview with Yahoo, Mary Barra spoke about GM’s potential as consumer preference trended toward electric cars, adding EVs are a “significant growth” opportunity. In addition, she says that EVs are more than “how you get to point A to point B,” as they can be used as powerful energy sources.
GM is leveraging its battery technology, spinning it into a newly established business called GM Energy to offer clean energy and storage solutions for residential and commercial customers.
Ultium Home, the company’s residential energy management business, allows consumers to utilize vehicle-to-home (V2H) technology with their EVs, creating an energy management system and microgrid. GM says it’s designing electric vehicles that can keep the lights on for up to 21 days.
When asked how big of a business GM Energy can be, Barra says that accelerating EV adoption and a new interest in sustainable energy can create a growth opportunity for its energy business.
Like Ford and Tesla, GM is focusing on services it can offer outside of building electric vehicles to diversify its income streams in case the economy weakens and vehicle demand slows.
The past several years have favored the auto industry as high demand and limited supply have led to favorable margins and growth. With several new EV launches in key market segments, Barra says the company is making sure it will be able to fund the company regardless of the economy.
How GM’s upcoming EV launches can soften an economic downfall
GM already has several of the lowest-priced EVs on the market with the Chevy Bolt EV and Bolt EUV, which just had its best quarter with 15,000 US deliveries. The automaker also offers higher-end EVs in the GMC Hummer EV and Cadillac Lyriq.
Meanwhile, in September, GM explained its strategy to provide an EV everywhere, launching a model in every significant auto segment. The GM models coming to market include:
Barra points out the Equinox EV is launching in the highest volume segment and is already having a positive response. A big reason for the interest is the price point of around $30,000, which Barra refers to as the “sweet spot” in the market.
Referring to the economy, Barra states:
I think we’re listening to what everyone else is saying around the globe, and so we’re preparing next year for a year that will look more like we have a little– it will actually be more demand but a little less demand than what we would think because we’re going to be conservative, make sure we set our cost structure up that way. So then if things turn out better, we’re well positioned.
Most importantly, she adds, with so many EV launches coming, GM is prioritizing future funding to ensure the company’s success, regardless of the state of the economy.
GM aims to sell one million EVs with over $35 billion in investments by 2025. According to Barra, the automaker has the supply agreements locked up to achieve that target as its second battery plant began operation in Ohio last month.
Electrek’s Take
While larger, more expensive electric models are in high demand right now, if the economy turns and consumers cut back on spending, smaller, less expensive EVs will likely steal the shine.
For example, in a similar economic scenario (high inflation, Federal Reserve tightens monetary policy) in the early 1980s, auto sales plummeted 20% YOY in 1980 as consumers cut back on spending. The fallout triggered a transition to smaller, more fuel-efficient vehicles. It also happened during the great financial crisis of 2008 to 2009.
This is the segment GM is targeting with its cost-effective, EV-for-everyone approach. If they can successfully launch and scale EV production, GM will be in a good position to weather the economy.
At the same time, with several highly-anticipated EV launches coming, Barra is right to focus on generating alternative sources of revenue. When an economic downturn happens, GM should know by now that cash is king and that will allow them to continue funding operations while getting ready for the next chapter in the auto industry.
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A judge has officially approved a settlement in a case brought by Tesla shareholders against board members who will now have to return stock, cash, and give up on stock options worth a total of nearly $1 billion.
Let me start this article with a quote from Tesla CEO Elon Musk:
Tesla will never settle a case where we’re in the right, and never contest a case where we’re in the wrong.
Today, Chancellor Kathaleen McCormick approved a settlement agreement between Tesla and all its board members from 2017 to 2020 and the Police and Fire Retirement System of the City of Detroit on behalf of Tesla shareholders over what the shareholders believed to be excessive compensation.
The agreement was first reported in July 2023, but it is only now being officially approved and we learn a few more details.
Shareholders believed that members of Tesla’s board were compensating themselves excessively with hundreds of millions of dollars between 2017 and 2020 when the average compensation of a board member of a S&P500 company is just north of $300,000.
Under the settlement, the board members agree to return to Tesla $277 million in cash, $459 million in stock options and to forgo $184 million worth of stock options awarded for 2021-2023.
That adds up to nearly $1 billion.
The board members include Kimbal Musk, Elon’s brother, Brad Buss, Ira Ehrenpreis, Antonio Gracias, Stephen Jurvetson, all close friends of Elon Musk and people who have financial dealings with Musk outside of Tesla, Linda Johnson Rice, Kathleen Wilson-Thompson, Hiromichi Mizuno and Larry Ellison, the co-founder of Oracle Corp and also a close friend of Musk.
As part of the settlement, Tesla or the board does not admit to any wrongdoing.
Musk didn’t take compensation as part of the board, but he is embroiled in a similar case over his own $55 billion CEO compensation package, which was rescinded by the same judge after she found that it wasn’t negotiated or presented to shareholders in good faith.
The board members who received this “excessive compensation” also happened to be the one who “negotiated” Musk’s CEO compensation package.
The case is heading to the Delaware Supreme Court, as reported earlier today.
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Environment
Nissan’s Ariya electric SUV takes on the extreme weather in its new test chamber [Video]
![Nissan's Ariya electric SUV takes on the extreme weather in its new test chamber [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2023/07/Nissan-first-Tesla-NACS-Japan.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Despite how cold it may feel outside, Nissan’s electric SUV has likely been through colder. Nissan is proving its Ariya SUV can handle the extreme weather at its unique new test chamber at its tech center near Detroit. With temperatures ranging from -40 to 176 °F, the Ariya is being pushed to see what it’s made of.
Nissan launched the Ariya, its first electric SUV, in the US in late 2022. Over 13,400 Ariya models were sold in the US in its first sales year, with another nearly 20,000 handed over in 2024.
A few weeks ago, Nissan introduced the 2025 Ariya, starting at just $39,770. It has two battery options, 66 or 91 kWh, good for 216 and 289 miles range. That’s for the FWD models.
You can opt for Nissan’s e-4ORCE AWD dual-motor system for “thrilling acceleration” with up to 389 hp and 442 lb-ft of torque. However, with the added power, you sacrifice some range. The AWD Ariya gets up to 272 miles range.
With many parts of the country seeing frigid temperatures, Nissan says its “Ariya is very well equipped” to combat freezing weather.
The electric SUV was already the first vehicle (EV or gas-powered) to drive from the North to the South Pole in 2023. Now, it’s being put through the paces at Nissan’s tech center outside of Detroit.
It’s currently around 23 °F in Detroit, with a low of 11 °F, but Nissan says it’s even colder in its unique new test chamber. The chamber is located at the Nissan Technical Center North America campus, just outside Detroit.
Nissan Ariya handles cold weather tests in new chamber
“Our chambers are capable of temperatures ranging from -40 degrees Fahrenheit to 176 degrees Fahrenheit,” Jeff Tessmer, senior manager of Zero Emission Vehicles at Nissan’s tech center, explained.
Nissan tests the Ariya in a test chamber with “far more extreme” temperatures than the typical driver will see. Tessmer said, “We want to test the worst-case scenario so that our customers will still get the same performance in a wide variety of weather conditions.”
One of the biggest goals is to prove the electric SUV’s battery can maintain charge levels even in extreme weather.
Nissan puts it through “cold soak” tests to ensure performance. During a 24-hour cold soak, the Ariya was parked in -4 °F weather with a 17% battery charge. It also wasn’t plugged in or using its battery heater. After the team returned the next day, the electric SUV still had a 17% charge and started up immediately.
The Ariya is equipped with a battery heater that drivers can turn on ahead of time to ensure optimal performance. On hot days, it includes a liquid-cooled system to regulate battery temperatures.
Drivers can also use the MYNISSAN app to pre-warm the cabin, check the interior temperature, and schedule charging times. Ansu Jammeh, an engineer on Nissan’s Zero Emissions Engineering team, said the best time to use the heating feature is “when the vehicle is plugged in so that it uses power from the grid instead of the vehicle.”
| 2025 Nissan Ariya trim | Battery (kWh) |
Starting Prices* (MSRP) | Range (miles) |
| Engage FWD | 66 | $39,770 | 216 |
| Engage e-4ORCE | 66 | $43,770 | 205 |
| Evolve + FWD | 91 | $44,370 | 289 |
| Engage + e-4ORCE | 91 | $45,370 | 272 |
| Evolve + e-4ORCE | 91 | $48,370 | 272 |
| Platinum + e-4ORCE | 91 | $54,370 | 267 |
Nissan added a new wireless charging pad across all 2025 Ariya models. The inside features Nissan’s Advanced Drive-Assist setup with dual 12.3″ infotainment and driver display screens formed in a “wave-like” shape.
Other standard features of the 2025 model include wireless Apple CarPlay and Android Auto support, a Head-up display, and a Virtual Personal Assistant. It also includes Nissan’s ProPilot Assist for assisted driving.
Are you ready to check out Nissan’s electric SUV for yourself? We can help you get started. You can use our link to find Nissan Ariya models at the best price in your area today.
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Florida’s Rice Creek Solar Energy Center is now online, delivering nearly 75 megawatts (MW) of clean electricity to 12 cities across the state. The solar farm is part of the Florida Municipal Solar Project, one of the largest municipal solar initiatives in the US.
Located in Putnam County, near Palatka, the Rice Creek site is covered with 213,000 solar panels that generate enough power for around 14,000 homes. This marks the third solar site in the Florida Municipal Solar Project, with more on the way.
Twelve utilities are tapping into the clean energy from Rice Creek, including Beaches Energy Services (Jacksonville Beach), Fort Pierce Utilities Authority, Homestead, Keys Energy Services in Key West, Kissimmee Utility Authority, Lake Worth Beach, Mount Dora, New Smyrna Beach Utilities, Newberry, Ocala, Town of Havana, and Winter Park. This is the first solar power project for Havana, New Smyrna Beach, and Newberry.
Jacob Williams, the general manager of the Florida Municipal Power Agency, explained, “By working together, our members and their communities benefit from additional solar-powered energy that’s both cost-effective and carbon-free.”
The FMPA, based in Orlando, coordinates the project, while the 12 municipal utilities – who are also FMPA’s member-owners – purchase the power. Miami-based Origis Energy is the builder, owner, and operator of Rice Creek. According to Origis Energy’s Josh Teigiser, “We are honored to support this FMPA work. Long-term agreements for solar generation, including for Rice Creek Solar, provide a stable rate base contributing to lower and more predictable customers’ bills.”
Construction is already underway on a fourth Florida solar farm, Whistling Duck Solar, in Levy County. The Florida Municipal Solar Project is expected to grow to seven sites in the next few years and will generate a total of around 525 MW of clean energy.
Read more: Ohio’s largest solar farm just came online
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to 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. They have 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 you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
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