General Motors Co. CEO Mary Barra says the company is in "execution mode" for its electric vehicles and again touted its plans while reporting a first-quarter profit Tuesday — the same day crosstown rival Ford Motor Co. celebrated the launch of its electric F-150.
The coinciding events gave each automaker a way to try to outshine the other. Ford is delivering the first full-size electric truck, beating GM to market by a year with its F-150 Lightning. GM's electric Silverado comes out next year, but Barra proudly told investors pre-production of the truck will begin "in a matter of weeks" and reservations are up to 140,000.
As it works on executing its EV plans — projecting for the first time it will make $50 billion in revenue from those vehicles by 2025 — GM is still selling gas-powered products right off the truck. The Detroit automaker continues to maintain high demand despite record vehicle prices driven by low inventory amid supply chain struggles.
