Mary Barra, CEO of Mary Barra, believes there is potential in Europe’s electric vehicle market.
Five years ago, PSA Group bought Opel. Later, it announced a 50/50 merger with Fiat Chrysler Automobiles in order to create what is now called Stellantis. General Motors effectively left Europe, where it no longer makes cars, when it decided to sell the German brand. According to a report by the Detroit Free Press, this could change as General Motors is looking at a return to the electric vehicle industry.
Mary Barra, GM CEO, stated earlier this week at the Milken Global Conference, Los Angeles, that General Motors could make business again in Europe as it transforms to an EV-only automaker. Current plans for the company include the transition to an entirely zero-emissions range of models by the middle if the next decade.
Barra stated that five years ago we sold Opel to Stellantis. We have no seller’s regrets from selling an internal combustion business. We are now looking at the potential growth opportunities that we have, as we can reenter Europe in an all-EV player. That is what I look forward to.”
GM has never completely left the Old continent. The Chevrolet Corvette is still being sold in select markets. Some Cadillacs are also available through a small dealer network located in Western Europe. Although these are niche products, GM believes there is potential for mainstream electric vehicles. Mahmoud Samara (ex-Cadillac vice president for North America), is currently leading GM’s mobility startup business in Africa.
GM will still prioritize North America and China, Samara stated. However, “our team will create our plans to deliver our best products to customers in Europe.” Although it’s hard to predict what new products GM will offer in Europe, a selection Cadillac-branded EVs seems like a good bet. By the end of this decade , the premium automaker will offer an electric-only line.