One of the largest American automotive companies announced a new electric vehicle launch on Tuesday. The catch is that the vehicle will be made in Mexico, something not ignored by a rival CEO.
What Happened: General Motors Company (NYSE:GM) unveiled the Chevrolet Blazer EV on Tuesday with availability starting in spring of 2023. The company also stated the vehicle will be made in Mexico at a production facility that currently makes its gas-powered Blazers.
“Blazer EV will be produced at GM’s Ramos Arizpe, Mexico, production facility, which manufacturers the current Blazer,” GM said Tuesday.
Tesla Inc (NASDAQ:TSLA) CEO Elon Musk couldn’t help but poke fun at the news.
“Teslas are the most made-in-USA vehicles,” Musk tweeted.
The tweet from Musk came in response to Teslarati writer Johnna Crider who shared a post and her thoughts on the General Motors news.
“Wow…And @potus snubbed @elonmusk and Tesla to put GM on a pedestal. So much for American jobs. Mexico is cheaper I guess,” Crider tweeted.
Sawyer Merritt, who posts news on electric vehicles and Tesla on Twitter Inc (NYSE:TWTR), also weighed in earlier Tuesday with his opinion.
“What was that Biden said again? Reminder: Tesla has the most AMERICAN made cars. GM Is not even in the top 10,” Merritt said.
Related Link: Elon Musk Says Unions Control The Democratic Party, Says Calling General Motors The EV Leader Is 'Next Level Insanity'
Why It’s Important: Merritt’s tweet references a recent list put out by cars.com called the American-Made Index, which ranks all qualifying vehicles built and bought in the U.S.
Benzinga reported on the list in June and highlighted that Tesla dominated the chart with four of the top six cars made in America:
1. Tesla Model Y
2. Tesla Model 3
3. Lincoln Corsair
4. Honda Passport
5. Tesla Model X
6. Tesla Model S
General Motors did not have a single vehicle on the top 10 list.
President Joe Biden has acknowledged General Motors and CEO Mary Barra as being the market leader in the EV space. After months of not mentioning Tesla by name in speeches, Biden finally named the brand in February 2022.
Barra shared with the Associated Press Monday that she believes the company will sell more electric vehicles than Tesla by 2025. Barra said one way to accomplish this goal is by offering vehicles at prices most consumers can afford.
“To really get to 30, 40, 50% EVs being sold, you have to appeal to people that are in that $30,000 to $35,000 price range,” Barra said.
The lowest-priced Tesla vehicle is the Model 3, with a starting price of around $48,000.
General Motors sold around 25,000 electric vehicles in the U.S. in 2021 according to the AP report, while Tesla sold 352,000 in the year.
GM plans on offering the Chevrolet Bolt for around $26,000 later this year and the Chevy Equinox for $30,000 in 2023.
The Chevy Blazer EV comes with starting prices ranging from $44,995 to $65,995 depending on the model and features.
GM plans on offering 30 electric vehicles by 2025.
“What we have coming, it’s in the heart of the market,” Barra said.
GM, TSLA Price Action: General Motors shares closed Tuesday up 5.49% to $34.40.
Tesla shares closed Tuesday up 2.07% to $736.59.
