The electric carmaker made the announcement on the same day it reported losing $670 million in the third quarter.
The automaker is struggling with supply chain problems and wrote off its investment in a self-driving technology business.
Shares of the company slumped as investors worried about increasing competition.
The country’s success with two- and three-wheeled vehicles that sell for as little as $1,000 could be a template for other developing countries.
The maker of electric pickup trucks, vans and sport-utility vehicles increased its production forecast for the year, but only slightly.
The automaker said it had reached deals to acquire more battery packs in its push to produce 600,000 electric vehicles a year by the end of 2023.
The General Motors chief says efficiencies, innovations and learning from mistakes will allow her company to become a leader in electric vehicles.
Fully electric vehicles have fewer fires than gasoline-powered and hybrid cars, and their crash protection is at least equivalent.
Ford’s chief executive is about to introduce an electric F-150 pickup truck that could determine whether the automaker can survive and thrive in an industry dominated by Tesla.
The company struggled to produce vehicles in the first three months of the year, a sign that shortages could last longer than executives had hoped.