General motors Committed to an all-electric future as the automaker prepares to introduce a range of new electric vehicles. “We want to bring EVs to everyone,” General Motors CEO Mary Barra spoke at the Goldman Sach tech conference, outlining their strategy for getting there, its Ultium platform, and plans to expand production.
in Conference“At General Motors, our vision is to create a world with zero crashes, zero emissions, and zero congestion,” Marie explains, driving the automaker’s vision of making electric vehicles affordable for everyone.
General Motors is entering all-electric vehicles into the mass market again after its first attempt, launching the Chevy Bolt in 2016, was less successful than the automaker had hoped.
Although sales began to build momentum, reaching a record 3,619 in June 2021, General Motors recalled all Chevy Bolt models after a series of Battery fires Which led to a massive drop in sales. GM vowed to make it right, but despite its best efforts, the accident ruined its reputation.
The automaker’s CEO went so far as to say she’s confident in GM Tesla can pick upthe current EV leader, by 2025.
A year later, General Motors decided to claim its share as nearly all new and old automakers race to offer their own electric vehicles.
General Motors Chief Financial Officer, Paul Jacobson, said in August The company is reaching an “inflection point” by expanding the production of electric vehicles. The automaker has released or plans to launch several electric vehicles since then, including:
However, GM’s hottest release to date is Chevrolet Equinox EV (Pictured below), an electric version of the best-selling SUV, was revealed last week. The smaller SUV is expected to be a key part of its strategy to provide “electric vehicles for all”.
Can General Motors Really Make Electric Vehicles For Everyone?
General Motors began to develop Ultium platforma platform specifically designed for electric vehicles, launched in early 2018. The EV platform is incredibly versatile and can be used to build any number of vehicles.
The automaker’s CEO sums it up perfectly at the Goldman conference, explaining:
The way we define Ultium is that it can go all the way from a small compact vehicle like the Chevrolet Equinox EV we unveiled to the world last week, all the way to a super truck like the Hummer EV and even with BrightDrop, our electric commercial vehicle. So we are never bound by what we want to create from the Ultium platform.
General Motors’ rapid work on its Ultium platform is starting to pay off as many models in the market are using the technology. Moreover, foreign automakers, such as Honda Partnership with General Motors to launch their own series of EVs.
The automaker has an ambitious goal of selling 1 million electric vehicles by 2025 in its North American and Chinese markets, which it expects to generate around $50 billion in revenue annually.
GM understands the hurdles it will take to get there, citing supply chain issues and raw material shortages. To get around this, GM is in the middle of the fourth building battery cell plants In the United States with the help of LG Energy. One, in Ohio, is in startup stages, another expected in 2023, one in 2024, and a fourth yet to be announced.
Mary Barra is quick to point out:
This was our strategy because we believed it was the right thing to do from a long-term perspective to control our destiny before the President signed the IRA into law.
She believes that through these projects, GM will be able to provide electric vehicles at the right price to any buyer.
General Motors, which makes affordable electric cars for everyone, is a win-win for the company and electric car buyers everywhere. With the Chevy Equinox EV expected to launch in the second half of 2023 and with a starting price of around $30,000, the dream of owning an electric vehicle is now within the reach of most people.
To ensure GM can keep up with demand, the automaker is working behind the scenes to secure critical battery materials and allow for efficient production capacity.
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