US auto giant General Motors is poised to become the first manufacturer to make a profit from electric vehicles, a GM executive predicted on Monday.

The company leads the pack in reducing the cost of electric vehicles and ultimately offering an affordable version, said Mark Reuss, GM's executive vice president for product development.

Engineers have been working to reduce mass and improve battery efficiency since it does not take as much power to move a lighter-weight vehicle, he said.

"That's the mantra inside product development. That's what all our engineers are all working toward," Reuss told reporters.

And as GM increases production of electric vehicles, particularly in China, where GM has plans to introduce 10 different electric models by 2020, it will help drive down the cost of battery cells.