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GM seeks increase in Congress aid to match EV Chevrolet Bolt production

General Motors Co. CEO Mary Barra sought an increase in aid from the U.S. Congress, in the form of tax breaks and other incentives, as it ramps up production of its EV Chevrolet Bolt on rising consumer demand, Reuters reported March 8.

"We feel tax credits should be expanded so our customers continue to receive the benefit going forward," Barra reportedly said March 7 at the CERAWeek energy conference in Houston, adding that the Detroit automaker believes "in an all-electric future."

GM reportedly is expected to sell 200,000 electric vehicles by the later part of 2018, the bar after which the U.S. government's $7,500 consumer tax credit tapers out over a 12-month period. It has already sold over 160,000 plug-in and full-electric vehicles under the tax initiative, Reuters reported.

The company sold 26,000 electric versions of the Bolt worldwide, mainly in the U.S., at a loss of $7,400 on each car in 2017, Reuters reported, citing an analyst. GM spokesman Pat Morrissey told the news wire over the phone that the company does not reveal individual vehicle profitability.