Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Tuesday quipped on legacy automaker General Motor Co’s (NYSE:GM) ability to sell more electric vehicles.
What Happened: The world’s richest person was replying to a post on Twitter that noted the legacy automaker sold just 26 electric vehicles in the fourth quarter.
Musk said GM has “room to improve” without adding more.
Room to improve Elon Musk (@elonmusk) January 5, 2022
The Detroit, Michigan-based company on Tuesday said it sold a total of 25 Chevrolet Bolt electric vehicles in the fourth quarter, compared with 6,701 units that it delivered a year ago. The automaker also sold a single Hummer Electric Vehicle pickup during the quarter.
For the full year, GM said it sold 24,828 Bolt EVs and Bolt EUVs.
Why It Matters: Last year, GM recalled every Bolt electric vehicle that it made since 2016, a total of 141,000 units. The automaker had in October said battery supplier LG Chem would cover the $1.9 billion cost related to the battery module that led to the massive recall.
GM, under CEO Mary Barra, in January 2016 launched the production version of the Chevrolet Bolt electric car with a $30,000 price tag, accounting for federal incentives, and a 200-mile range.
The launch from GM — the legacy car player that represents U.S. manufacturing to some — was seen as a fitting challenger to Tesla.
GM is scheduled to launch its all-electric Silverado pickup on Wednesday.
Price Action: GM shares closed 7.5% higher at $65.7 a share on Tuesday.
Photo: Courtesy of GM
