GM announces a $3 billion battery factory with Samsung and is counting on Ultium EVs to make up nearly a quarter of its 2025 gross revenues.
) of 600,000 electric trucks per year, potentially accounting for a large chunk of GM’s goal of producing 1 million EVs in North America in 2025.The shift from Bolts to Silverado EVs also represents GM’s commitment to a single EV platform, Ultium, which surely is more cost-effective and potentially profitable compared with the pre-Ultium 2017-2023 Chevy Bolt. As an affordable, relatively high-volume EV, the Bolt will essentially be replaced by the Equinox EV launching this autumn.
talked about just-announced plans to build a new, $3 billion battery manufacturing plant in the US. It will begin making nickel-rich prismatic and cylindrical cells in 2026, with location and employment levels to be announced later.
In the Q&A, one investment analyst asked whether GM might soon match Tesla’s high profit margins, which are surely falling as theGM Says It’s on the Way to EV Profitability
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