General Motors (GM) may not be catching up to electric vehicle leaders like Tesla anytime soon, but CFO Paul Jacobson has noted that the automaker’s EV business is still on the right path. The executive seemed optimistic about GM’s electric vehicle business, even noting that he sees variable profitability being achieved sometime in the second half of 2024.
With variable profitability achieved in 2024, Jacobson noted that fully-accounted profit in GM’s electric vehicle business could be anticipated about a year later, in 2025. The CFO did state that a number of factors would affect the profitability of GM’s EV business, such as lower costs of commodities and improvements in EV manufacturing, as noted in a Yahoo Finance report.
While GM’s stance on its EV business is quite optimistic, CFRA analyst Garrett Nelson has stated that it would be pretty shocking if the automaker does achieve profitability in 2024. “I would be shocked if they hit EV profitability this year,” Nelson said. He also noted in a segment with Yahoo Finance that GM might not achieve profitability in its EV business for “at least the next two or three years.”
GM’s electric vehicle efforts were hampered somewhat in 2023, with a company spokesperson noting that the automaker would have $1.7 billion in reserves for losses related to the company’s existing EV inventory in Q4 2023. GM CEO Mary Barra also noted that it’s true the “pace of EV growth has slowed, which has created some uncertainty.” Barra also stated during the automaker’s earnings call that the automaker has the flexibility to build more hybrids if necessary, though growth in EVs remains a top priority.
Apart from a potential shift in the company’s EV strategy, GM also noted that it is working to refocus and relaunch its self-driving robotaxi efforts in its Cruise subsidiary, which uses heavily modified all-electric Chevy Bolt EVs. In GM’s 2023 financial results, the company noted that it lost nearly $2.7 billion before taxes in Cruise. The automaker also intends to reduce its spending on the self-driving unit this 2024.
CFRA analyst Garrett Nelson’s Yahoo Finance segment can be viewed below.
Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.
Investor's Corner
Tesla bear turns bullish for two reasons as stock continues boost
“I think from a trading perspective, it looks very interesting,” Nathan said, citing numerous signs of strength, such as holding its 200-day moving average and holding against its resistance level.
A Tesla bear is changing his tune, turning bullish for two reasons as the company’s stock has continued to get a boost over the past month.
Dan Nathan, a notorious skeptic of Tesla shares, said he is changing his tune, at least in the short term, on the company’s stock because of “technicals and sentiment,” believing the company is on track for a strong Q3, but also an investment story that will slowly veer away from its automotive business.
“I think from a trading perspective, it looks very interesting,” Nathan said, citing numerous signs of strength, such as holding its 200-day moving average and holding against its resistance level.
He also said he believes a rally for the stock could continue as it heads into the end of the quarter, especially as the $7,500 electric vehicle tax credit is coming to an end at the end of the month.
With that being said, he believes the consensus for Q3 deliveries is “probably low,” as he believes Wall Street is likely underestimating what Tesla will bring to the table on October 1 or 2 when it reports numbers for the quarter.
Tesla bear Dan Nathan has flipped his script on Tesla $TSLA shares, citing “technicals and sentiment”
— TESLARATI (@Teslarati) September 12, 2025
Tesla shares are already up over five percent today, with gains exceeding nine percent over the past five trading days, and more than fourteen percent in the past month.
While some analysts are looking at the performance of other Mag 7 stocks, movement on rates from the Federal Reserve, and other broader market factors as reasoning for Tesla’s strong performance, it appears some movement could be related to the company’s recent developments instead.
Over the past week, Tesla has made some strides in its Robotaxi program, including a new license to test the platform in the State of Nevada, which we reported on.
Tesla lands regulatory green light for Robotaxi testing in new state
Additionally, the company is riding the tails of the end of the EV tax credit, as inventory, both new and used, is running extremely low, generally speaking. Many markets do not have any vehicles to purchase as of right now, making delivery by September 30 extremely difficult.
However, there has been some adjustments to the guidelines by the IRS, which can be read here:
Tesla is trading at around $389 at 10:56 a.m. on the East Coast.
News
Tesla lands regulatory green light for Robotaxi testing in new state
This will be the third state in total where Tesla is operating Robotaxi, following Austin and California.
Tesla has landed a regulatory green light to test its Robotaxi platform in a new state, less than three months after the ride-hailing service launched in Texas.
Tesla first launched its driverless Robotaxi suite in Austin, Texas, back on June 22. Initially offering rides to a small group of people, Tesla kept things limited, but this was not to be the mentality for very long.
It continued to expand the rider population, the service area, and the vehicle fleet in Austin.
The company also launched rides in the Bay Area, but it does use a person in the driver’s seat to maintain safety. In Austin, the “Safety Monitor” is present in the passenger’s seat during local rides, and in the driver’s seat for routes that involve highway driving.
Tesla is currently testing the Robotaxi platform in other states. We reported that it was testing in Tempe, Arizona, as validation vehicles are traveling around the city in preparation for Robotaxi.
Tesla looks to make a big splash with Robotaxi in a new market
Tesla is also hoping to launch in Florida and New York, as job postings have shown the company’s intention to operate there.
However, it appears it will launch in Nevada before those states, as the company submitted its application to obtain a Testing Registry certification on September 3. It was processed by the state’s Department of Motor Vehicles Office of Business Licensing on September 10.
NEWS: Tesla has officially received approval from the Nevada DMV to start testing autonomous vehicles (robotaxis) on public roads.
Today, I confirmed directly with the Nevada DMV that @Tesla‘s application to obtain a Testing Registry certification was approved by the DMV Office… pic.twitter.com/hx5JhHBFiD
— Sawyer Merritt (@SawyerMerritt) September 11, 2025
It will then need to self-certify for operations, essentially meaning they will need to comply with various state requirements.
This will be the third state in total where Tesla is operating Robotaxi, following Austin and California.
CEO Elon Musk has stated that he believes Robotaxi will be available to at least half of the U.S. population by the end of the year. Geographically, Tesla will need to make incredible strides over the final four months of the year to achieve this.
Tesla is set to improve a critical feature that has not been present in older vehicles with a new update.
Tesla vehicles feature a comprehensive suite of driver assistance features, some of which aid in driving itself, while others support the vehicle’s surroundings.
One of those features is that of Driver Visualization, and with the rollout of a new update, owners of Intel-based Tesla vehicles are receiving an upgrade that will come with a simple software update.
Tesla plans to use Unreal Engine for driver visualization with crazy upgrade
The update will provide new visualizations while Intel-based vehicles are in reverse, a feature that was not previously available, but will be with Software Update 2025.32.2.
The improvement was spotted by Not a Tesla App via TheBeatYT_evil:
Noticed something new in 2025.32.2 on my Intel MCU + USS car with FSD.
When shifting into reverse, the full FSD visualization now stays on instead of switching to the old plain autopilot visuals.
Might be small, but it makes backing up feel more seamless. pic.twitter.com/o44levkdtM
— Beat (@TheBeatYT_evil) September 5, 2025
Previously, vehicles Tesla built were equipped with Intel-based processors, but newer cars feature the AMD chip, which is capable of rendering these visualizations as they happen. They were capable of visualizations when driving forward, but not in reverse, which is what this change resolves.
It is a good sign for those with Intel-based vehicles, as Tesla seems to be paying attention to what those cars are not capable of and improving them.
This was an undocumented improvement associated with this particular update, so you will not find any mention of it in the release notes that Tesla distributes with each update.
Tesla bear turns bullish for two reasons as stock continues boost
Tesla lands regulatory green light for Robotaxi testing in new state
Tesla is improving this critical feature in older vehicles
-
News2 weeks agoTesla is overhauling its Full Self-Driving subscription for easier access
-
Elon Musk2 weeks agoElon Musk shares unbelievable Starship Flight 10 landing feat
-
Elon Musk2 weeks agoElon Musk reveals when SpaceX will perform first-ever Starship catch
-
Elon Musk1 week agoTesla’s next-gen Optimus prototype with Grok revealed
-
News6 days agoTesla launches new Supercharger program that business owners will love
-
Elon Musk6 days agoTesla Board takes firm stance on Elon Musk’s political involvement in pay package proxy
-
News2 weeks agoTesla appears to be mulling a Cyber SUV design
-
News1 week agoTesla deploys Unsupervised FSD in Europe for the first time—with a twist