GM posted a small profit during Q1 which is surprising given the heavy losses announced by the other 2 Detroit automakers in Q1. According to AutoNews, GM’s CFO is saying the pandemic will not impact the company’s work on their electric and autonomous vehicles. The company invested $20 billion in March on EVs and AV development and is still planning to launch 20 EVs by 2023. It’s notable that GM continues to sell highly profitable full-size pickup trucks, and will launch all-new full-size SUVs which help to fund investments in EVs and AVs. Much of this is explained in a Medium article I wrote in April.
General Motors EV and AV Investments Won’t be Reduced
