Last year, the company told investors it expected to make
It still aims to build 400,000 EVs in
Barra, who has headed the company since 2014, credited federal incentives under the Biden administration's Inflation Reduction Act for the news.
Passed in August, the act includes billions in clean energy incentives for states. It provides money back for companies that produce their EVs in
Those federal incentives are expected to increase profit margins on
Full eligibility requires stricter sourcing of EV battery materials.
"It's clear these credits are going to help usher in a new era of technology innovation and job creation that's going to achieve what was intended," Barra told investors in
"It will be good for the American economy. It'll be good for American families. It'll be good for the environment, and frankly,
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