• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Venezuela abandoning the bolivar and adopting the U.S. dollar would be the biggest currency switch since the advent of the euro, Hanke says

2

'We will not endure' — Top Iranian leaders signal they are running out of time as economy crumbles ahead of Trump's next sanctions onslaught

3

‘Take time in quiet’: Melinda French Gates says to spend at least 10 minutes a day on self-care

1

Venezuela abandoning the bolivar and adopting the U.S. dollar would be the biggest currency switch since the advent of the euro, Hanke says

2

'We will not endure' — Top Iranian leaders signal they are running out of time as economy crumbles ahead of Trump's next sanctions onslaught

3

‘Take time in quiet’: Melinda French Gates says to spend at least 10 minutes a day on self-care
MPWMost Powerful Women

GM’s Mary Barra Makes a U-Turn on China

By
Jen Wieczner
Jen Wieczner
Down Arrow Button Icon
By
Jen Wieczner
Jen Wieczner
Down Arrow Button Icon
October 10, 2017, 5:26 PM ET
Add Fortune on Google for similar content.

After General Motors announced last week that it will launch 20 new electric cars over the next five years, the automaker is setting its sights on one massive target market: China.

GM CEO Mary Barra said Tuesday that she is fully on board with China’s goal, announced last month, to ban gasoline-powered vehicles—despite having initially criticized the plan.

“Clearly we believe the Chinese market will have the highest [number of] electric vehicles most quickly, because of the regulatory environment,” Barra said at Fortune‘s Most Powerful Women summit in Washington, D.C. The 20 new all-electric cars that GM (GM) is rolling out, following the success of its Chevrolet Bolt EV, will also be available in China, she added.

“So we’re very committed to an all-electric future,” Barra continued.

Barra, No. 1 on Fortune’s Most Powerful Women list this year, appeared to contradict her earlier statements disapproving of China’s strategy with the ban. “I think it works best when, instead of mandating, customers are choosing the technology that meets their needs,” she said in a speech in Shanghai in September, as reported by The New York Times.

She walked back those comments Tuesday, however, saying that in fact, GM is working to capitalize on a potential future without cars that run on gas.

“The point I was trying to make, that kind of got spun into something a little different, was at the end of the day you still have to make customers happy and you have to fill their needs,” Barra explained. “And so we’ve encouraged the Chinese government to work with us and work with the industry to make sure we’re creating the excitement and demand for electric vehicles, as opposed to it just being mandated.”

GM stock hit an all-time high last week after it unveiled its new slate of electric cars, making it once again more valuable by market capitalization than Tesla (TSLA), its chief rival in both electric and self-driving cars.

Barra boasted of GM’s progress with autonomous vehicles. Her enthusiasm has its limits, however: She said she herself will always want to be behind the wheel of her own car, she said.

About the Author
By Jen Wieczner
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in MPW


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in MPW


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.