According to GM CEO Mary Barra, they won't be following companies like Tesla and Ford with price cuts on their EVs.

General Motors has no plans to follow the lead of Tesla in slashing prices for its electric vehicles, chief executive Mary Barra has revealed.

Soon after Tesla slashed prices for the popular Model 3 and Model Y by as much as 30 percent, Ford responded to these cuts by slashing the average price of the Mustang Mach-E by $4,500. A number of EV makers in China have also cut prices. However, many legacy carmakers are remaining steadfast with their current pricing strategies, including General Motors.

While recently speaking during GM’s fourth-quarter earnings call earlier this week, GM chief executive Mary Barra said the company is confident in its current pricing strategy.

“When we look at our strong product portfolio and the interest that we have at the prices that we’ve already announced, we feel that we’re well positioned,” Barra said, according to The Verge. “[Going into] the first month of the year, we’ve seen a very strong customer interest in our products… we think, right now, we’re priced where we need to be.”