To be sure, GM and Tesla both have formidable rivals in their rearview mirrors: Ford, as well as Jeep, just this week announced its own plans to roll out plug-in versions of its lineup. Volkswagen, BMW, Mercedes-Benz, and Kia, and new EV makers Rivian, Fisker, Neo, Xpeng, and others are also rolling out battery-powered vehicles.
“When we started here, we were told electric cars were impossible, and even if you could make an electric car with a range of two hundred miles, no one would buy it because people love gas cars,” Musk said. Shareholders at the company’s annual meeting last month. “When we started, we started a car company and then it was stupid [start] Electric car company. We now have the highest operating margin in the entire industry. He added: “There is a lot of talk about competition between electric vehicles. But in reality, EVs are taking market share away from gasoline cars. And from Tesla’s point of view, we welcome this,” he said at the meeting.
At $35,000 less than the Tesla Model Y, the Equinox should have real competitive power — at least on the pricing side. General Motors (GM) CEO Mary Barra said last year that the company could “absolutely” overtake Tesla as the industry leader in US EV sales by 2025. Best seller for the company.
