Amidst the shifting landscape of the automotive industry, Bank of America’s Global Auto Summit served as a pivotal platform for industry leaders to converge and discuss the latest trends and strategies. Among the distinguished attendees was Paul Jacobson, Chief Financial Officer (CFO) of General Motors (GM), who provided invaluable insights into GM’s outlook and initiatives in an exclusive interview.

In conversation with CNBC, Jacobson shed light on various facets of GM’s operations and its response to the dynamic market conditions. From sales performance to the electrification push, Jacobson delved into key areas shaping GM’s trajectory in the coming years.

Reflecting on recent sales trends, Jacobson expressed optimism about March’s robust performance, marking a notable recovery since the onset of the chip crisis. He noted, “We’re excited about how the year has started. We had a little choppiness in January, February came back really strong, and March is also looking strong for us.”

Discussing incentives and pricing strategies, Jacobson highlighted GM’s commitment to customer satisfaction and transparency. He emphasized, “We stood up for our customers and said we’re going to give you that $7,500 [tax credit].” Jacobson reiterated GM’s dedication to providing value to customers and ensuring accessibility to its diverse range of vehicles.

In the realm of electric vehicles (EVs), Jacobson provided insights into GM’s ambitious electrification agenda. With the EV market gaining traction, GM is accelerating its efforts to ramp up production and expand its EV portfolio. Jacobson hinted at upcoming launches, stating, “We expect to see that start in the second quarter.” He reaffirmed GM’s commitment to driving innovation in sustainable mobility, stating, “We’re making progress, and we’ll get there with plug-in hybrids.”

Hybrids emerged as another focal point of discussion, with Jacobson acknowledging the growing demand for hybrid vehicles. He stated, “We’re trying to make sure that as we navigate the path to an all-electric future, and implying we’re meeting it where it is.” Jacobson underscored the importance of offering hybrid solutions to cater to diverse consumer preferences and bridge the transition to an all-electric future.

Concerned about Chinese automakers’ aggressive pricing strategies, Jacobson emphasized the need for global competitiveness and cost efficiency. He noted, “We must maintain our competitiveness worldwide and meet regularly.” Jacobson reiterated GM’s commitment to navigating market dynamics while staying true to its strategic objectives.

As the automotive industry continues to evolve, Bank of America’s Global Auto Summit provided a forum for industry leaders like Paul Jacobson to share insights and strategies for navigating the road ahead. With innovation and collaboration at the forefront, GM remains poised to shape the future of mobility and drive sustainable growth in the years to come.