General Motors said Thursday that the company expects its electric vehicle line to become as profitable as its traditional gas cars and trucks quicker than it had anticipated.

Mary Barra, the CEO of the Detroit-based auto giant, said that adjusted numbers show GM's electric vehicles would achieve the feat by 2025, which would be years ahead of schedule, according to CNBC.

GM projects its revenue to grow at a 12% compound annual rate through 2025, with EV revenue estimated to be $50 billion by that year.

Last year, the company told investors it expected to make $90 billion in EV revenue by 2030.

It still aims to build 400,000 EVs in North America from this year through the first half of 2024.

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 North America, as well as individual and fleet customers.

Those federal incentives are expected to increase profit margins on GM's electric vehicle portfolio. The company's CFO Paul Jacobson said GM expects to be among the first to be eligible for a full $7,500 consumer tax credit per vehicle.

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 New York on Thursday.

"It will be good for the American economy. It'll be good for American families. It'll be good for the environment, and frankly, General Motors is well poised."

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