General Motors says it will stop burning cash on electric vehicles by 2025

The GM logo in blue and white
Illustration by Alex Castro / The Verge

General Motors wants to be the biggest seller of electric vehicles in North America (maybe the planet, too?) and so far, it’s burning a lot of cash to get there. But by 2025, the cash burning will officially cease, as the company projects its EV program will be “solidly profitable” by then.

The company, which is the largest automaker in North America, outlined the plan to achieve this goal to investors at a splashy event in Manhattan on Thursday. GM said it will sell 1 million EVs annually starting in 2025, and to illustrate this point, it had a variety of electric models on display, including the stunning $300,000 fastback Cadillac Celestiq that was first unveiled last month.

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