General Motors CEO planning for conservative 2023, push into EVs to continue
Nic Antaya/Getty Images News

General Motors (NYSE:GM) CEO Mary Barra said on Tuesday that supply chain issues are improving every quarter, but these challenges are expected to linger in 2023. She added that the auto maker will continue to push forward with its focus on EVs, part of what she characterized as "one of the most significant transformations in the last hundred years."
"We are planning for a fairly conservative 2023," the head of GM told CNBC, although she added that "we're still seeing a pretty strong consumer."
"What we are seeing is strong pricing and low incentives," she noted, while also warning that "a lot is going to depend on what happens with the economy." 
Barra predicted that EV adoption is expected to approach 20% of the U.S. industry sales in 2025. As part of this, she said five GM assembly plants in the U.S., Canada and Mexico will be building only EVs to achieve company's goal of selling only electric passenger vehicles by 2035.
The company's future line-up includes a full-sized truck, heavy duty trucks, Chevy Siller Silvero and Hummer SUVs.
The company is also revamping its business model by giving the customers an option to purchase vehicle online to cut selling costs, Barra said.
Over a period of one year, GM shares have plunged around 36%.
Looking at the industry as a whole, SA contributor Harrison Schwartz says that General Motors is making much more significant long-term electric vehicle investments than Ford (F) and is now outpacing Tesla (TSLA) in terms of Capex-to-sales. As such, he says GM might "beat Tesla to an electric vehicle future."