How GM Is Going All In On Electrification | CNBC Marathon
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- čas přidán 31. 05. 2024
- CNBC Marathon revisits General Motors' shift into the electric vehicle market.
GM is one of the largest automakers in the world with a range of models falling under its four brands, Chevy, Buick, Cadillac, and GMC. The automaker made its name selling gas burning cars but in January 2021, it made a stunning announcement. The company said it “aspires to eliminate tailpipe emissions from new light-duty vehicles by 2035.” This means that GM intends to stop selling gas-burning cars. General Motors says it wants to lead electric vehicle sales in North America by 2025, and vows that its new Ultium battery platform will drive that dominance.
Not only are cars going electric but so are boats. General Motors recently invested $150 million in one start-up, Pure Watercraft, to build an electric pontoon boat. And several others are working to bring their own battery-powered offerings to market.
CNBC Marathon brings together the best of CNBC on CZcams.
Chapters:
00:00 Why GM’s all-electric future is a big gamble (Published September 2021)
15:17 The rise of electric boats (Published April 2022)
27:13 Why GM says its Ultium platform will drive EV dominance (Published May 2022)
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How GM Is Going All In On Electrification | CNBC Marathon
Imagine where we would be if GM had made such a commitment to EVs 20 years ago instead of killing the EV1!
Exactly!!
Imagine how advanced they’d be if they hadn’t sold their battery patents to Texaco?
The battery technology was not even close to where it is today! It would not have been successful for them!
Tesla almost literally is the EV1. It started with an electric motor by the guy that designed the EV1 motor, and like the EV1 had regenerative breaking. The EV1 + lithium-ion batteries (unlike the EV1's old school lead-acid) IS Tesla. GM blew it.
@@gmv0553 That's not how technological progression works. Selling the technology for the battery technology to Texico was about stifling the development of a threatening technology. They tried the same thing with lithium ion, but there were too many formulations and patents, and the Japanese (Sony ) refused to sell.
Can anyone say Kodak's killing of there own digital Camera? Same thing. To save there ICE sales. They will sacrifice there total company. Sad.
I worked for GM in Product Planning for 8 years...believe me GM does not and has never had any interest in building EVs. They are only doing it now because of regulation and competition. Executives always used to tell me people don't want EVs, Tesla just loses money, we don't see the demand. I just gave up in the end and bought Tesla stock and went back to my meaningless spreadsheets. I worked with lots of nice people at the operational level but I had no faith in the leadership. Arrogant, poorly informed and willfully ignorant
Well, in a way, the GM excutives were right. People don't want GM EVs.
@@Carguytct the Volt was an awesome concept. I’d rather buy a Volt-like SUV than an all-electric SUV at this pint if the electric-only range was decent (~100km-ish)
I bought a Bolt EV in June of 2017, as a way of convincing those arrogant dinosaurs that there IS demand. I wanted to reward them.
@@Carguytct Hahahaha!
Key word "Worked" as in past tense. Nothing you experienced may be true today. I own a Tesla and an Escalade. I absolutely will dump my Model 3 next year likely for a EQS or Tycan (though Polestar 3 seems extremely enticing as well). I also need to replace my Escalade in another 3ish years. I have some affinity for GM so I might get a Lyric or something bigger.
23-24 is peak Tesla (max 2025). Every single legacy automaker will overtake Tesla in EV sales. Some may take 3-4 yrs (Ford, GM, VW group, Hyundai and Merc, BMW maybe) and some may take 7-9 years but it's going to happen..So I don't get the skepticism and the dire predictions that legacy automakers cannot catch up. That's absolutely not true IMO.
I'm fine with GM going out of business. Wouldn't miss them
I would hate to see GM go out of business. but if they don't get it, so be it.
I will NEVER forgive GM killed the EV1! GM derserve to go bankrupt...
Their own fault. 😢
GM has innovated the auto industry in many ways over the years. GM failing would have many negative repercussions and less choice for you, the consumer.
@@SD-pi9co GM gave up on their 1996 electric car in 1999. They have yet to make a good electric vehicle today while claiming they will have 30 new models in two years. They will not achieve that goal and more choice of something not many want will not help GM.
They should just concentrate on making a good vehicle instead of 30 lesss desirable ones
GM's previous innovations are irrelevant when today the company is preoccupied with resting on its laurels while being run by a hirearchy of luddites.
I was thinking that tesla was about 5 years ahead of GM but after watching this I’m thinking 10 years is more realistic
GM’s biggest advantage over Tesla is their PR department, it’s really a pity that is all they have to compete, Elon welcomes healthy competition and GM are a Fail !
I work at GM. You underestimate the company’s capability to rollout and maintain a significant market cap in EVs within the next 5 years.
@@chrisbraid2907 hmm… have you test drove the hummer? Escalade? Lyriq? Tesla set the benchmark, but the big auto makers have extreme advantage to overtake/dilute the market with cheap, affordable, and capable EVs
@@2mcna2 so could tesla but whats the point of cheap affordable cars when every single car they make sells anyways
@@tomh1727 I cannot tell if your trolling. Nevertheless, the supply of cheap and affordable (and better quality e.g. no Tesla panel gaps) EVs mixed with the demand for new vehicles is a basic economic theory. I mean I would recommend reading a wiki page about free markets and what dictates consumer behaviors?
they tried in the 90s with the EV1, Have they continued making that car and stayed on that path they would be the Tesla of today
It wasn’t the prettiest car, but your right, they had their chance. Nostalgia for ‘American muscle’ doesn’t help.
It was cancelled because it didn't need replacement parts so it affected its profits.
@@imeakdo7 I doubt it because they set it up to be a lease only vehicle and all the owners begged GM to sell them the vehicle but GM took all the cars back and destroyed them when the leases were over... every car has replacement parts even if cosmetic so this was a golden opportunity that was fumbled. This could've been the Prius before the Prius as well
@@mikew7171 this car was so ahead of its time it's crazy if they had kept pushing they could've literally had one of their many brands as a EV only brand
You must realize that Tesla became Tesla because of Elon Musk and Elon Musk alone. His ingenuity and charm made people switch to EV and not so much the technology
Why is it that on the one hand we hear "people don't want EVs" and on the other "many models have multi-year waiting lists"? Maybe CNBC needs to get their story straight?
In March, pure EV sales in Norway was 86% and pure EV + plug-in hybrids together were 92% of total car sales, with only 8% of the market being pure combustion cars. So, people want EVs when charging infrastructure and pricing is right. insideevs.com/news/578743/norway-electric-car-sales-march2022/
One possibility is: most people don’t want EVs. However, there is not enough EV supply to fulfill the demand for those who do want one, which is the minority of the entire car buyer market.
@@jessechen4971 you are far too generous. Car markers are complaining bitterly that they simply can't get enough raw materials to build the cars they have on their order books. If people think they will have to wait a year or more before they can actually have a car delivered, it's ridiculous to not assume they'll say to themselves "I'll get it next time". You also have the fact that superchargers are still being built out massively and that is probably dampening people's desire to wait an entire year too.
When manufacturers and dealers start having to discount EVs to get them off lots, I'll believe "people don't want EVs", until then there is simply no evidence a reasonable market observer would consider suggests people don't want EVs!
@@jessechen4971 I think most people don't care about the engine. The moment EVs are cheaper (to buy/run), more convenient (to use/charge) and available to buy (not production constrained), most people will switch. In Norway, due to government reducing taxes on EV cars and a substantial number of EV cars, this has happened already. In other countries, it is fair to assume that this will happen over time, as EVs seem to get cheaper and infrastructure is built out. The main question is how fast this adoption will happen.
@@transcrobesproject3625 I'm just making a guess here. Nothing more.
14:39 - Had GM invested more into the EV1 project in the early 2000s and not discontinued it, it would have been hugely successful. The demand was already there by then.
No, the Lion batteries weren't advanced enough, even today BEV are tiny part of world auto sales.
They were out ahead but it was too much work and required too much vision compared to just churning out more ICE trucks and SUVs. I genuinely think GM culture was not ever able to accept it. It was an anomaly, a random mutation of strategy that was seen as cancer and immediately stamped out.
@@paulbedichek2679 Because of the EV1 Toyota in response developed the Prius. Too bad the Prius didn't take off eh? Imagine where GM would be if they hadn't killed off the EV1. There WAS demand for it. The leasees of the EV1 protested to outright buy their cars. Nope - GM took them and smashed them. Brilliant work on the topic of "give customers what they want and are willing to pay for."
@@kng128 Ridiculous! The Prius was a very popular vehicle, they last decades, unlike every tesla.
@@kng128 excellent points Ryan and went way over the head of Paul. If GM had spent the last 20 years improving the EV1 chances are a company like Tesla would never have had to exist. The EV1 used lead acid batteries. We have all seen the change in battery chemistries in the last 20 years from NiCad to LioN and how much more powerful and cheaper they get every year. In 1992 the price per kWh of lithium ion batteries was $6,035. They are now down to around $100/kWh. GM could have riddent he technology and the cost curve for the past 30 years and didn't. Now they will be lucky if they don't go bankrupt AGAIN. They must be looking back at the EV1 and thinking that was a monumental fuckup to crush that car
I’m thankful for everyone calling out the misinformation in the comments section! Kodak invented the digital camera but tanked it because it would cannibalize their film business. GM tanked the EV1 and the same fate of GM as Kodak!
When a company fails, it doesn’t deserve to be bailed out.
GM betrayed Detroit.
GM knew about the Flint water crisis and said nothing.
GM knew about their faulty ignition switch, and said nothing.
They deserve to fail, considering how much they value commitments and human lives.
Literally every projection I've ever seen in the past 5 years have grossly underestimated the number of EV sales. I remember 5 years ago predicting 1 million electric vehicles sold by 2030. In the next 3-5 years electric vehicles will be price competitive or cheaper at time of purchase. By 2035 nearly all vehicles sold will be EV. GM will be behind the curve not in front.
In China EVs are already in parity with ICE cars, this is why China leads in car electrification and will conquer 50% of the auto market as they planned by 2030. At that time, Biden will be long gone, along with the USA... I tell you this: the wrong choices are always paid by the usual people, not the responsible... they will keep you covered on lies, as now... And you all have your responsibility as you never tried to see the truth... "The sheep which is not protecting her fur, let be eaten by the wolves!"
Is possible to see a war with China, just to stop them from expanding and exporting that expansion... So, if you see it, you know why...
Dude they are already ahead. I see more bolts out on the road here in California then I do have any other vehicle besides Tesla. I see more bolts than I see Kona EVS. I see more bolts then I see mach-e. in comparison to the other car manufacturers GM is definitely in the lead other than Tesla.
@@UlexiteTVStoneLexite Chevy Bolt sales have been stagnant since it launched in 2016. The Mustang Mach-E probably surpassed the Bolt in lifetime sales already, even though it’s been on the market for a year and a half AND it’s more expensive (but far more compelling) than the Bolt. GM isn’t ahead at all. Ford is doing better than GM in EVs. GM just puts out a bunch of press releases and platitudes, and has CNBC and other news media egging them on.
@@waynelewis9110 no they haven't. I see several bolts daily. Dude Ford only has the mustang and a few lightnings. I see far more bolts in a day then I see mustangs and I have yet to see a Ford lightning.
@@UlexiteTVStoneLexite will the supply of Tesla fanboys be exhausted at some point?
GM has to fix it’s self before they can succeed. GM has an unwritten reputation (word of mouth, the best form for advertising) of having to need at least 2 to 5 years to work the “bugs” out or in this case the electronic gremlins! All cars gas or electric has them. Who wants to buy a new GM vehicle knowing that for the first 2 years you’re gonna have problems? Secondly, having the correct diagnosis of the problem? Last and not least having a knowledgeable professional technicians to fix the problem quickly and correctly! This has not been one of GM’s note worthy accomplishments! Therefore I will not buy a GM EV for the first 2 to 5 years or more?! I’ve been disappointed too many times by GM. That’s why I drive Lexus hybrid. I’m driving my second Lexus hybrid now. No problems! No “bugs”! No electronics “gremlins”! My first Lexus had a problem with the brakes. They quickly diagnosed the problem and fixed it immediately! Never again had any problems with it! After 4 years I traded it in and bought another Lexus. After 8 years, still no problems! That’s the reputation that GM has in short supply! Product reliability! And service after the sale!
Facts
💯! Look at the most recent lawsuit over the AFM system that has had problems since inception.
Having some issues with a new product is not a big point. A good customer service and warranty, even after 6 years is important, and tthat's what is missing at European/Us brands compared to Japanse/Korean
I have a Chevy and have had no major problems past 120,000 miles and counting. Had to get some sensors cleaned but that about it.
@@JXY2019 That’s great! You got a vehicle made on a good day! As for the others, not so great!
It is amazing how far off these predictions and research numbers were in 2021, when these two GM articles were published.
GM Toyota and Nissan were huge donors to Trump in 2020, so I this is serious about face!
Provide receipts, I'm waiting
@@Sasskin This was widely publicized business, election news at the time, covered by Bloomberg, PBS and other more mainstream noise sourcesCNN abc etc!
Thanks for the laughs.
This video looks like been recorded 4-5 years ago. The demand of EVC is skyrocketing in China, the Largest EV Market in the world, that some Chinese carmakers are no longer making ICE cars, while some ICE car makers are experiencing a deep plunge of their sales in China. European countries are giving lots of incentives to EV car makers, and that has been so successful that the UK stop giving them because the EV demand was far greater than ICE demand. And Norway, where EV sales were about 80% of total in 2021 may be banning all ICE sales by 2025. So how come this video says that the EV demand is risky for GM? The problem with GM is not lack of demand but that it is producing first order crap. While Tesla is increasing the prices for all their models and the demand for their cars is high and they earn about 10k for each car sold, GM is discounting the Chevy Bolt prices so they can sell their inferior product that is in low demand, and Ford says they are losing money for each For Mach-E they sell. Making a prototype is easy, but putting that prototype into production is not, and that is what GM, Ford, CNBC, Bloomberg, Toyota, BMW, Audi, and other do not understand. Their thinking is based in profits for the next 2-3 months, not for the development 3-4 years ahead in the future. Tesla and the EV makers are thinking ahead of time and had procured long term suppliers of raw material, something that legacy carmakers have not. GM and Mary Barra are only words and vaporware, and the same is for Ford, BMW, Toyota, Honda and the rest. This video lacks a lot of research and obviously, real world analysis. I will watch better and more concise info elsewhere, is not worth it........
Great reply. Want a job writing accurate stories? The comment section seems full of reality-based folks who would read your reports!
GM and Ford already mentioned they have made deals to acquire raw materials. The unknown part is for how many vehicles.
I initially thought GM is pulling a collosal pump and dump scheme, but I don’t think that’s possible. There is a lot of info (facts and opinions) on Tesla, but the internet does not follow closely the other automakers. Besides, if the major automakers screw up big time, they might still be saved by the overall progress in the EV industry, which now involves facilitating from some major governments when it comes to mining/raw materials, even research.
No, the video is mainly talking from a North American perspective and so it's accurate. The rest of the world (well, Europe and China anyway) is pulling ahead fast.
China only sells more cars because China is overpopulated by 500 Billion people .
Excellent analysis Jorge and you are right on the money. All of the data out there, which anyone can find easily if they cared, totally agrees with your comments. I watched about 70% of this video and like you thought it must be 4-5 years old and stopped watching. Must be a paid story by Ford and GM.
So they will make 27 Bolts next year?
28🤣🤣🤣
Most all charging takes 5 sec. Three to plugg in and two to unplugg at your home.
Ironically GM was the leader in the 1990s with the cutting edge EV1sport coupe. So far ahead of its time, but they destroyed it.
I think that it is important to be in the market with the right product at the right time. They as most big American Companies are preoccupied with the price of the stock rather than long term vision
There is a documentary about EV1 and how it came about to get it out of production. You couldn't buy one, only rent it. And people protested when it came out that they are going to recall those vehicles and destroy them.
GM killed the EV1. GM derserve to go bankrupt!
Then, un-ironically, they came back with Spark EV still early in the game and scored big time with Bolt!
@@Ekowal1965 Yep!!
Now all they have to do is rid the world of "stealerships" (aka. price gougers) and sell directly to the public. Otherwise, they stand to lose out on sales.
And as Tesla has shown, price gouging is not just a dealership problem. Sell directly to consumers and you can still keep on increasing the price, except now, the manufacturer is making the higher profits.
@@Hans-gb4mv better the manufacturers than the dealerships. They can at least reinvest the profit to make better cars. Dealerships only make profit off of screwing you over.
@@Ranshin077 Not entirely. At least you can haggle with dealerships to get the price down. I was once able to take 6k off a new car. You can't do that with the manufacturer and thus have to pay whatever price they say.
@@Hans-gb4mv WTF are you even talking about. Tesla raised prices because they can't keep up with the demand, not because it's gouging. It's making 30% profit on the vehicles it sells.
The S-curve, the new car market will be 100% EV way faster then CNBC thinks - Already 52% of people would consider an EV.
7:22 - The Hyundai Ioniq 5 and Kia EV6 take about 20 minutes to add around 200 miles (with a sufficiently powerful charger, which do exist today and are becoming more plentiful every day).
Most importantly though, if you have access to chargers at home or at work (all you need is an ordinary power outlet!), DC-fast-charging speed doesn’t matter, except for road-tripping 2-4 times a year for most people. Once you factor out road trips (not charged at home), most Americans only drive about 20-25 miles per day. No problem recharging that overnight from just an ordinary 110V outlet.
Zacly! Level 2 charging is cheaper and more reliable, slow charging is great for long-term parking, like while you work.
A more accurate headline would be, why hasn't GM gone all in on EV's.
But they did! 457 EVs sold in Q1 22. Thats something!
"Mary, I can remember talking to you way back in January about the need for America to lead in electric vehicles. And I can remember your dramatic announcement that by 2035, GM would be 100% electric.
You changed the whole story, Mary, wherever - [applause] - wherever you are. There you are. You did, Mary. You electrified the entire automobile industry. I’m serious. You led - and it matters - in drastically improving the climate by reducing hundreds of millions of barrels of oil that will not be used when we’re all electric.
You know, up until now, China has been leading in this race, but that’s about to change."
@@wolfgangpreier9160 Yes, that speech made the whole ev market cringe in disbelief.
@@dollarmerchtree4587 Not cringe, i still have a good laugh about it. And did you see the reaction of this so called vice president? How she is controlled by the UAW to only say "good things" about GM and Ford? And i really thaught she could make a difference - oh how naive i was!
@@wolfgangpreier9160
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@@wolfgangpreier9160 Sorry, but I'm unable to discern what your opinion is and sarcasm.
They're not "betting" on EVs, they're being forced by consumer demand to switch to EVs. And 2035 is way too late. GM may not survive.
In the mean time as GM make just a handful of EVs. They secretly push the negative agenda on EVs, in hopes to cause consumers to keep buying gas cars instead, the main source of income for GM.
Dude, EV's haven't even met the capabilities of a gasoline vehicle yet.
@@SD-pi9co That's a weird thing to say. What specific "capability" do ICE cars have that EVs don't?
Consumers aren't demanding EVs at all. EVs are being shoved down the consumers' throats by the government. Out of all the people I know, only one person has a hybrid, and the rest don't want an EV. In fact, they have less money, so they aren't even thinking about buying a new vehicle.
@@ericclaeyborn3600 How is the government forcing people to buy EVs? Is it some sort of mind control? Should we all be wearing tinfoil hats like you?
GM is killing it. Projecting 36 EVs in Q4 this year.
36 units delivered or CGI models presented?
lol someone works for GM
@@pdougall1 Assume it's sarcasm.
@Tziiware An electric chair? Why though? Lol 😆
yeah they are on trac to build 36 vehicle this quarter
Hello everyone thanks for having me.
America is so far behind in the transition to EV's. If you had the gas prices we have in Europe you would understand why it's happening so fast over here. Almost everyone who's looking to buy or lease a new car buys electric.
Incorrect, most people are looking at (plug-in) hybrids. Electric is still not that high in demand.
@@Hans-gb4mv Excuse me, what? full electric has higher share of sales then plug-in hybrids...by far
@@vojtechvoros1549 In Norway yes, but not rest of Europe…yet.
@@ApriliaRacer14 Here in Sweden PHEV used to be very popular. Now fully electric vehicles are selling better. 52% of all new registered cars were electric cars (fully Electric or hybrid). In Norway that number is 78%
@@jonasmelander You confirmed what I said…Nordic countries.
"Then there's the question of how many customers actually want EVs - to which the answer so far seems to be not that many". Proceeds to look at the wait times for purchasing an ID.4, any Tesla, Taycan, or the large markups on Ioniq 5 and EV6. Does CNBC just look at market share and not understand the actual production constraints for BEVs?
This is a PAID marketing shill for GM (and BIG OIL) who pays their Advertising Bills.
People also want F150s but you’re luck to find one on a lot. If you do find one good luck getting it with less than a 5k mark up over MSRP. There’s scarcity in more than just EVs.
@@dondelchulia3189 And many of those ICE vehicles will never make it to market. EVs doubling in production and sales every year or two. ICE vehicles shrinking in number since 2017 or so…
Bye bye ICE.
If you consider just how much electric vehicles have advanced in the past 10 years, then you realise it is only a matter of time electric vehicles catch up and even surpass gas powered vehicles. Personally I see the issue of charging times being addressed within 10 years. The only problem left will be the infrastructure.
saw a video of a guy that charges his tesla with a gas generator.
Takes me about 20 seconds to plug in and unplug my EV. If startup Tesla can build out a reliable fast charging network for their vehicles for those on long trips or without the ability to charge at home, there is no excuse for other companies. It is far cheaper and easier to install chargers than it is to build gas stations.
Apartment living…?
@@maninscrubdallas8694 Not sure what things are like in Dallas, but here in Australia older areas have electricity via poles and wires in the street. Newer areas have the electricity undergrounded. Either way, they use the electricity to run things such as street lights and even parking meters. It is not a huge step to instal street side chargers much like your existing street parking meters, where there is likely to be demand for charging. Either your electricity network generator or even local county councils could get in on the act to provide kerbside chargers with the view of making some money on the difference between what they buy the electricity and what they charge you for the electricity. Much the same way as Tesla does with its charging network. Anything is possible.
EV'S are nonsense. When you charge up your EV you are using gas, oil and coal to create electricity. Wake up you are being scammed.
The fastest way to get this to work is to have a universal battery size/shape/connections with the ability to hot swap. We currently have this with other batteries such as an AA size, AAA, 9v, etc.
The batteries weight a literal ton at least. They're simply too heavy. Also, it's much easier to just have everyone charge their cars at night, when they're sleeping.
It's funny that Mary Barra said GM will dominate the EV market by mid decade. The narrator said GM will have one million EV production capacity by that time. Well, I hate to break it to you, Tesla will be selling well over one million EVs this year.
Kwan. It is also funny that President Biden said "May, you led and it matters". Well, if they led, then they don't need to catch up to Tesla because they are in the lead already. You can't be both leading and catching up.
What a difference a year makes!
Try waiting inline at Costco for that "cheap" gas. It's pretty long lately.
good luck getting the materials lol
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They are going to have 30 EV models in three years. Should not be difficult. They made 26 Bolts last year.
@@morninboy 😂
@@morninboy Remember, GM leads the EV marketplace. I took all the EV makers and ordered their sales numbers for the first part of 2022 in ascending order and GM was in fact at the top of the list!
@@wineberryred Post the info. how many orders for which models?
I'm calling absolute nonsense on that one. They only have the Bolt and the Hummer with 28 models to go in three years. Not going to happen and they will brobably go bankrupt again.
Tesla has orders backed up for close to a year and more than two million Cyber trucks ordered not to mention the soon to be semi commercial transport truck.
Time will tell
GM company have done a good job on car ‘s batteries in the world 💐💐👍👍🎉🎉
There is a race for 2nd, but there is no competition for #1.
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1:08 With Teslas(like any all electric vehicle) you charge at your home most likely in your garage at night eliminating the need to go to a charging/filling station for 95 percent of the use case scenarios. The only time you have to worry about charge times is on road trips and even then you can charge from 20 to 80 percent (150 miles of range) in 20-25 minutes. It will only get faster over time with new tech/refreshed models of cars coming out.
people can be skeptic all they want, GM said its a goal not a promise - lets see were this goes
Problem is, a lot of people don't have garages. They park on the street, or in an apartment complex lot, or in a car port. Statistics say about 66% of Americans have a car port or garage, which sounds like a lot. But many of those car ports and garages are older, detached, and may not have power available. Retrofitting and upgrading simply adds to the cost of owning an EV which is a major disadvantage. Take my house for example. I have a garage, but the wiring is 120V and not 240V. That means I would need to upgrade if I wanted decent EV charging. It would add thousands potentially to my EV purchase. I'd argue a significant portion of that 66% of people with garages don't have the ability to add a 240V charger without an upgrade to their electrical system. Also, a significant amount of American households use their garage for storage and can't even park in it. If you grew up in a middle class suburb in America, you probably know what I mean. If you don't know what I mean, just find the nearest suburban neighborhood and drive around it. Check out how many cars are parked in the driveway right in front of the 2/3 car garage.
It's going to take much bigger batteries, and much better public charging infrastructure to increase the adoption of EV's in America from the current 3-4% of new cars sold.
@@ericpabon2458 I didn't say anything about GM.
@@baber0015 So you have 70k to spend on a new Tesla but don't have another 1k to spare for the 240v outlet install? Don't buy a Ferrari if you can't afford the gas. Dude all you got to do is go to Lowes or Home Depot and spent like 40 bucks on a 240v dual plug(to add an extra plug where your washing machine is plugged in and then 30 bucks on a 240v extension cord to connect to your car in the driveway. also they don't need to get the batteries way bigger or the charging infrastructure better they need to get the prices of these cars down to 25-30k. That is far more important.
@@Jolly-Green-Steve That's the entire point, EV market share isn't going to dominate until they are affordable. The market for $20k-$30k EV's doesn't have garage access, they mainly live in cities in apartments where they wouldn't have access to charging at home until more infrastructure is built. I'm not worried about the rich Tesla owners. The sale numbers tell the story, they have garages or access to charging infrastructure. But even all the Tesla's make up just a tiny portion of the overall light vehicle market. If you want mainstream adoption, they need to figure out charging.
And no, can't just run an extension cord from the dryer outlet lol. In my case the dryer outlet is probably 200 feet from my garage. I'm sure some people can do this, but it's more of a workaround that it is going to be a widely adopted solution for street parkers.
The duration of charging is hardly a problem, as It keeps me for example in over 95% just 30 seconds busy, that includes the way to the Charging station (plug in at evening and plug out in the morning). For longer distances I like to wait 30 or 35 minutes every 450 km, which is quite practical, as I don’t need to stand by the car while it’s charging.
I'm not sure dumb people can handle it though
With so many fewer parts, think of how much more profitable evs are than ice vehicles.
First you have to make the cars, and the batteries cost, much money. Then you have to pay too many workers/UAW reps and too many dealers who all need much money from you. What do you think the dealers will do with your EVs when they have to do the service and maintenance? Which is virtually nil. They have not even started to get disrupted. Thats why GM and Ford may survive - but i personally do not think so.
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what’s so hard to understand about charging at home when you sleep at night. who really drives over 300 miles daily on a regular basis… you can always plug it in at home if there isn’t a charger near you and wake up with a full car
If you make it home, yes.
@@billolsen4360 ICE ICE Baby to GOOOOO....
Sooner rather than later.
Thank God all the largest auto makers are at least talking about and planning to go "all in" with electric vehicles because our climate is becoming more erratic and extreme. My wife and I own two EVs and are very glad to be ahead of the curve with the way gas prices are going, and are grateful the new EV incentives will make EVs much more affordable for the wider public to adopt.
Biden lowering tariffs on China mean we are increasing pollution not decreasing,people in 1980 said win d solar would provide ll our energy in the next few years 42 years later Europe is retiring to coal,worse than the polluting natural gas they were using, we could of hd zero emissions from power plants by 1980 except for the leftwing dems who oppose nuclear.
Everyday there is more CO2 in the air than the day before,China brings a huge coal burning plant that will run 40 years, online every two days.
With lower tariffs the situation for world pollution will get much worse.
What "incentives" they go to the dealer.
Exciting times
Should be interesting with the droughts ( Climate Change ? ) causing the shut down of power plants !
@@ag-om6nr You would be surprised at how rapidly the grid is becoming sustainable. Personally, I produce twice the power we consume and back-feed the grid with the rest since we have solar panels over the garden and on the roof.
I can't even afford the payments on my gas car. Also I live in a broken down RV on the street without electricity or running water. And before you tell me to get a job, I have one. I'm already working 6 days a week, recycling aluminum cans that I find at work, and trying to do side gigs when I can.
Did they just say GM is selling more electric cars than tesla? Lmaooo!
Yes 657 is more than 310.048. Everybody knows that.
I want an electric small pickup truck! I am tired of living through all these gasoline shortages, I don't care about waiting even 12 hours for charging
I'm with ya. But not on the 12 hour charging. Maybe a few hours.
What about when the electricity goes out. During winter or high winds or the infestructure failures
@@user-wj6kq3xw2g when the power goes out, gas stations stop working too. Plus it's usually for less than a day and some EVs can act as battery packs for the house.
@@user-wj6kq3xw2g People in Texas DIED with ICE vehicles...when the Gas lines froze.
People in Teslas in Texas stayed warm because the battery can last for days and it usually stays charged nearly fully most days. Also, if you have solar or battery backup, that's not really a thing most of the time.
They should just scrap this video and make one titled: Tesla to have 20th gigafactory by 2035
This is the first really poorly researched CNBC long-form video I have seen. I still love the channel as they usually get things right, just not this time.
Such a amazing jobs in technology more to save money in gas. Much love
It's funny that we hear both that EVs won't be a significant part of the market until the 2030s, but also manufacturers are consistently surprised at the strong demand for EVs.
Ford CEO Jim Farley admitted as much to Sandy Munro in a video posted recently. Ford has changed their targets of how many EVs they will produce by when several times -- each time upping the goal.
Paid Shills will say anything you want, as long as you advertise on their business channel. :-)
It's just how government and corrupted politicians wants to force car manufacturers to build Electric vehicles and force us people to buy it. Aiming for Money and trick us.
@@Ren_1106 They want to force them to stop polluting our planet too. Damn them! I need that poison for my freedumb!
GM: we're investigating xx Billions of dollars in EV...
The Investment: CNBC advertisement
Thanks for translating to incandescent light bulb unit so I can understand! How many football fields can it go.
Maybe they'll be ready someday, meanwhile I've been driving 2 - 2015 EVS for 4 years.
Thank you so much
Stellar reporting by CNBC who doesn't understand that EV sales are production constrained
I had the electric boat 20 years ago I was the first one in Marina del Rey to have one. They’ve been used on lakes and for fishing way before I thought of it
The thing is if GM goes full EV the market and American people will follow. It will be a signal that it truly is the future and not a fad.
GM was first BEV in U.S. 1990s had the EV1! GM board decided to recall their EV1 leases and crush all their EV1 at midnight except 3! Sold their EV1 patents for $125K! Bolt was designed, developed and 1st assembled in South Korea.
This "report" was brought to you by the oil industry. Thanks for watching.
Tesla is doing this and more, they make it like gm and Ford are at the front of all this. It's just ridiculous.
Each one of them build 10-40 times as many cars as Tesla and are profitable right frickin now. You don't need a startup corporation to mass produce EVs.
Tesla is at the forefront of fossil fueled cars?
look at tesla quality. Inconsitant body gaps and the list goes on would be here all day.
@@samsonsoturian6013 GM DOES produce more cars than Tesla, but which company made more money. Check and you will be Tesla made more money than GM
@@hornprof46 Googling... Oddly enough you're right. That should tell you the kind of fat margins hyped up technology firms get to work with. But to be fair all that money is spent on trying to get the glitchy tech to actually work and Tesla still struggles to stay profitable.
The Ford F-150 lighting is sold out already and you can’t even test drive one yet
Because they can’t afford to make them at the advertised price. So they won’t. Wahmp wahmp!
Why is that GM guy wearing a mask on a zoom call?
Ehhh, how many EV did GM sold in the last quarter again? LMAO 🤣 yeah, Mary the Miss-Leading, you lead and it matters
Mary emBARRAsing lied, and it matters! 🤣🤣🤣
Please don't ask for another bailout when you fail again.
Wait a minute🤣was that guy really wearing a mask😷while an interview on a computer 🤣🤣🤣
Gm is not stupid ,the quality and luxury of Cadillac ,hummers is amazing…
This from the company that previously crushed all their electric cars in the 90's.
And they should go ahead and do it again they're junk
And just recalled ALL their Bolts too!
GM is years away from being where TESLA is,by the time GM gets to TESLA Tesla is years ahead selling 10 million cars.
GM will go bankrupt before it catches up to any of its competitors.
When you make the Hummer affordable, I'll purchase one.
I know my concern is how to charge them is it easy. When is it going to need a battery? And where can I get it from. What else is it going to need.
You just summed up every reason to buy a Tesla instead.
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How would you drive a truck from Cali To Alaska only with Electricity during the winter? Is anyone has an answer for this?
You can't. You won't. Not for a while.
Catenaries over highways. Siemens has built a demo in California.
By charging it lol
@@bentc123 Charging your electric vehicle is not quite the same as filling your gas tank.
I would prefer over the road. Charging stop every 200 to 300 miles. Truck drivers need rest stops anyway.
Some assumptions made by the video like EV sales will fall seems stupid.
All EV will help improve city infrustructure by inspiring new companies to spring up to create more charging stations and even in home stations installer companies
This aged well!😮
I have not seen any electric vehicle from GM I want to buy yet.
look more
BuT tHeY hAvE uLtIuM! Don’t worry, they just need to spend more money on commercials to convince you to buy their crap. Need some more made up buzz words.
Me tho🤣
But I Hope Corvette C9 will be full Electric! 😎👍(with a Tesla Plaid drive train) +Tesla 4680 cell battery
It's so funny hearing GM marketing touting this as ambitious and industry leading. They're not fooling anyone.
18:17 "Our coolant system is sealed and never needs to be topped off"
LOL You mean it WILL need to be topped off like any coolant that boils, pressurizes and escapes one way or another. But you wont be able to top it off cause its "sealed" Great job. No coolant lasts forever, ITS DESIGNED TO LEAK AND LUBRICATE! These people are nuts.
Since EVs are so much more efficient, they produce a lot less heat, and under normal conditions the coolant will never get anywhere near "boiling" temperatures. Any condition that could bring the coolant to "boiling" would be so severe that "coolant loss" would be the least of their concerns.
In the US, Tesla rules with Ford coming in second at 6%, GM is in the Other category. Too many auto manufacturers take their old gasoline model cars and try and make them into an EV. This is very inefficient and ineffective for the consumer. I see a lot of EV marketing on TV and the internet, but when I went to price one at a local dealer, they didn't have them on stock, nor could they get their hands on one readily. Price, Electronics, and Batteries are the most limiting factors right now. I doubt any goal that we set for phasing out gas guslars will come to fruition. Do I think that Big Oil is throwing a Monkey Wrench into the works? Of course. As with most other consumer goods, it's China that has the most promise for wining the EV revolution.
Did you notice that electric car salesman seem to target women more than men ? .. I wonder why that is ?
High gas prices speed up EV progress.
18:25 "our gear oil is sealed never needs service" Please show me a differential that the fluid lasted forever and never needed changing. Sealed gear systems will fail because oil/synthetic loses its ability to lubricate. GM said the same about their transmissions & the Colorado's differential made in mexico..... They call it "Lifetime Fluid" Yeah the 60k miles of its lifetime it will last.
Who produced this? This is like making a 45 minute documentary on how Taco Bell plans on taking over the smart phone industry. Because “if they don’t do it, there are others who will” 😂
I know right? Main stream news is for children lol
Tesla is already at 100% electric vehicles and they are all made in America.
Teslas are made in America, Shanghai, and Berlin. American made Teslas have the highest US content of any cars on the market, ice or electric.
The lack of proper research put into this video is hilarious. Lordstown as GM competition? 😂 They're gone
It is terrible. And GM is gone too.
Lordstown /Fraudstown 🤣
@@mikafiltenborg2291 exactly 😂
cnbc takes old videos puts 2 or 3 together and pretend they are new.
I love the presentation of Candela, a swedish startup. Hmm, the guy speaks with a very french accent. Bienvenue à la nouvelle Europe !
The EV1 looks like it’s old Saturn brand they maybe could bring back Saturn as it full EV line of line of Cars & CUVs & then HummerSUVs & Trucks
Watch GM go bankrupt lmao
Before 2027 imo😉
Too little too late …theoretically bankrupted by now ..thats life
Growing up on a a ranch in Arizona and living on a ranch in Arizona with stock trailers and horse trailer’s to pull and months of days over 115 degrees…. They are simply not practical. Peaple that really need trucks don’t want any part of them. But if you live in the city they might be right up your alley
GM goes Bankrupt in 5-4-3-2-1, GM Goes Bankrupt, Laughter in Sues LOL
I wonder if the oil companies sponsored this video. The panelists are so negative about electric vehicles. Norway is going ahead with a fully electric automobile future. Many countries are promoting electric vehicles. It is not impossible for GM to be a fully electric vehicle company. They could add hydrogen-fuel cell vehicles too to this mix.
That is because in Norway the gasoline prices are astronomically high and the cost to register an ICE vehicle is ridiculous. People in those countries bought EVs because it made sense to them financially so obviously the infrastructure was built in a sense out of necessity. In the US the incentives to buy an ev are not enough to make them a clear choice vs ice.
@@Cornelius87 Norway is an oil rich country. They made the policy to move to renewable energy. Many countries want to remain devoted to their oil companies. That's the difference. Oil and automobile companies lobbied to build highways in USA. Now it's so costly to build high-speed rail. China is the front runner in terms of renewable energy production and electric vehicle production.
@@nithin009ster I'm not getting into all of that I'm just saying from the perspective of a random buyer. If I live in Norway and I want to buy a new car, buying ice will mean having to pay 10 euros a liter for gasoline and thousands upfront in taxes and registration. That's why they rather buy electric. In the US we have a more even playing field and honestly that's how I like it. Let people buy the product they want without feeling forced into one choice.
@@Cornelius87 it's not level playing field. It's cowing down to oil lobbies. Your oil automobiles causes more environmental damage. Gun control and abortion verdict shows how stupid America is!
I admire their guts to make this kind of commitment. I think that this is the only way they can win out though.
Just a goal, not a real commitment. There will always be weasel words to get them out if needed. Hopefully they can pull it off. The non-Tesla charging infrastructure is pretty bad - so they might want to focus on PHEVs initially until the charging infrastructure catches up.
Only action gets results, not talk.
@@JasonTaylor-po5xc it will never catch up, they want you to buy it and charge it at your house period
@@raydanieliv3195 Nah, it will catch up quickly...just like gas stations eventually did. Because they would rather you charge at their Shopping Mall or Restaurant or Grocery Store or movie theater or "Convenience Store" than at home...They being the stores and / or former gas stations that want you to charge there. Cheers!
This is barely a commitment
The 2035 estimates are old and hard to actually estimate, but those numbers are underestimated. It will likely be 50+%.
Screw electric cars - I have had one and it was a pain in the ass. 70 mile range. I could drive to work and back, but didn't have the battery power to drive 5 miles out of the way to have dinner with my spouse. If I did, I'd have to drop the car at a charger and walk or Uber to the restaurant while my car charged. I Installed a Seimens charger in my home - the only way to have an EV car - if you don't mind the limitation of 70 miles per charge.
GM most advance tech is
Bail Out！
The charging station issue will go away in time once gas stations install some charging stations. The thing that will also make the whole charging issue irrelevant will be solid state batteries which can be charged so much faster than lithium batteries but currently the storage capacity of solid state batteries are inferior to lithium batteries. Added benefit of SSBs is they can be built with inexpensive materials which drastically cuts down on the cost of EVs and they also last so much longer than Lithium batteries.
The charging issue is no longer an "issue" if you own or lease a Tesla, since most can perform 90% of their charging at home and the other 10% at fast-chargers in less time than it takes you take a break for a bite to eat on long-distance / cross-country trips. The solid-state, or semi-solid-state battery will further increase the overall advantage of EVs, but only if/when this battery type is lower in cost per unit of energy storage ($/kWh).
Another person living in la la land the power grid in US in Europe an US is not ready for this crazy green agenda is not ready will take at least another 10 to 15 years but try to tell that to morons like u an Biden who are trying to shut down the oil companies good luck with that crazy plan.
ALEX EPSTEIN 's "Fossil Future" on sale now June,2022. Where are all those batteries,solar panels,windmills,etc. going after their short lifespan?
yeah Imagine having to wait for a charger over a pump. yeah no thank you. you can replace every pump with an ev charger and the wait will still be absolutely rediculous. every person charging going inside for a bite to eat while you wait for that charger. Grabbing a bite while waiting for the charger then once at the charger then having ti wait agian.
I very rarely charge at a Supercharger. I charge about 95% at home. And i drive more than 50.000km each year. Most others do the same. Its not profitable to support and maintain such a high number of public charging stations when they are not used.
Solid State batteries have many advantages if and when they come to the market. But ist not faster charging. Do you think every fast charger will expand to 1,2 or maybe 10 Megawatt infrastructure? Such power costs REAL money.
It's not charging, it's maintenence!
This video misses the point in so many areas. For example they compare charge stations to gas stations. 90+% of charging is at home.
Tesla will build more than 1 million EV's this year. By 2030 they plan to get to 20 million vehicles. Elon is pretty good at reaching his goals.
Oh yeah where is the underground tunnel in Los Angeles. Elon is a glorified government contractor.
Yup all those Teslas and no aftermarket parts to fix them. The Iphone of cars loll
@@philosopherking7869 so misinformed , are you a flat earther too
they will make over 2 million this year . possible 2.5 your a million plus off . no big deal
@@stevenmaresca9637 Pretty sure that Apple is one of the most profitable companies in the world. Not a problem for Tesla to follow that plan.
Are Chevy's stopped catching 🔥?
No.
🔥🔋🚗🔥(⬅️Chevy Bolt) 🚒🚨
🤣
@@bgeery Hyundai uses the same LG batteries as the Bolt and they get a pass.
Gm is using 20 year old battery chemistry that no one else uses anymore and 15 year old computer technology. That's like shooting yourself in the foot at the start of a marathon.
Ev's seem very Appealing with these gas prices.
Putting the catalytic converter on the car is like putting a poop catcher on the horse pulling the cart and declaring victory.
Those same cats also use super rare earths called platinum metals groups in them. 😀
What I find interesting about the electrification of vehicles is the consumer expectation that they can bring over their gas car habits - and that those habits are worth bringing over. Take gas stations for instance, it's infinitely more coinvent to charge my car at home overnight and always have a full tank rather than to having to drive to a gas station, skipping the ones with bad prices. That's like going to the mall to charge your phone. My issue with EVs is that they look so eccentric. Please, just give me a Toyota Corolla or BMW with no obvious marking that it's an EV and let me go about my day without making a statement.
if people could just understand that you don't need to and shouldn't want to regularly go to charging stations to recharge your car, when you can do it at home, this whole process would be much less painful.
I like weird EVs. Interesting in the past designers styled cars with airplane and rocket ship fantasy influence, now we have an actual different drivetrain and many want it to look discreet.
LOL this headline is funny, GM has now done an about face because Tesla is kick'n the crap out of them.
I had an electric boat 20 years ago