GM says its EV business has become ‘variable profit positive’—experts say true profitability is far out

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While questions still loom over what kind of impact the Trump Administration will have on electric vehicles sales, General Motors hit an important milestone toward scaling its electric fleet this past quarter.

In the last quarter of 2024, General Motors said it had become “variable profit positive” for the first time for its electric portfolio—meaning that the money GM is making from each electric vehicle sale (plus the EV manufacturing credits GM gets for making its own battery cells and assembling battery packs) is enough to cover the cost of making each car. While it’s still not enough to cover things like the costs of GM’s EV plants or labor, it’s a step in that direction as the carmaker adapts for the future.