Barra went on: “Getting some of the oldest vehicles off the road would definitely help from an environmental perspective. And we do think that in the few years out, continuing to stimulate EV demand.. getting people into EVs so that they can understand the benefits of EVs as we work to have a full portfolio and a robust charging infrastructure, I think that’s going to be important as well.”
Barra isn’t the only automotive executive to declare support for such a program, which was inquired by Morgan Stanley analyst Adam Jonas during the call. Both high-ranking officials from Ford and Kia have brought it up, as well.
GM has laid out some aggressive, ambitious EV plans, announcing last March a new battery pack architecture dubbed “Ultium” that’s targeting a cost-per-unit-energy of $100 per kWh. Ultium batteries will power GM’s next generation of EVs, including models like the GMC Hummer and Cadillac Lyriq battery-electric vehicles.
Barra was careful to specify that the company isn’t seeking permanent subsidies, as it is “on a path to profitability” in the EV space. But her company isn’t the first US automaker to suggest publicly that it is in favor of a second round of Cash for Clunkers, after Ford’s VP of US Marketing, Sales and Service made similar remarks last month.