GM CFO Paul Jacobson on the outlook for its EV business

EV Profitability & Strategy - Company's EV business was not profitable in the third quarter [1] - Approximately 40% of EV models achieved variable profitability, indicating contribution margin positivity but lacking overall EBIT profitability [1][3] - Slower EV demand necessitates architectural and structural cost savings implementation [3] - Restructuring charges are taken due to re-evaluation of production capacity, aligning with revised EV penetration expectations for 2030 [2] Cost Reduction & Future Outlook - New battery technology and form factors are expected to reduce EV production costs by thousands of dollars [4] - Company aims to lower EV production costs to broaden consumer accessibility [5] - Company believes in a strong future for electric vehicles and has a competitive portfolio [4][5]