GM Pushing Back 400,000-Unit EV Production Target To 2024
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GM reported its Q3 2022 results this week, with headlines including net income of $3.3 billion and $41.9 billion in revenue. GM CEO Mary Barra took a call with analysts on Tuesday to discuss the results, during which Barra indicated that the automaker was pushing back its EV production target of 400,000 units to the 2024 calendar year.
Previously, during the Q4 2021 earnings call held earlier this year, Barra said that GM aims to produce 400,000 fully electric vehicles by the end of 2023. Now, however, Barra says that the 400,000-unit EV production target has been pushed back six months to early 2024. According to Reuters, the slower EV production ramp-up was attributed to a “slightly slower launch” of battery and cell production.
GM’s all-electric vehicle aspirations hinge on the rapid expansion of the automaker’s battery cell production capabilities. GM is now building multiple battery cell production facilities in the U.S. under Ultium Cells LLC, a joint venture partnership between GM and Korean supplier LG Energy Solution. Early last month, GM celebrated the production start at the new Ultium Cells battery plant in Warren, Ohio, which will help to ramp up battery production to power new units of the GMC Hummer EV, Cadillac Lyriq luxury crossover, and BrightDrop Zevo 600 all-electric commercial delivery van.
In addition to the recently opened plant in Ohio, new battery production facilities are also under construction in Michigan and Tennessee, with a fourth planned for the near future.
Meanwhile, production of the GMC Hummer EV and Cadillac Lyriq increased sharply in September, with 750 units of the GMC Hummer EV produced at the GM Factory Zero plant in Michigan, and 1,000 units of the Cadillac Lyriq produced at the GM Spring Hill plant in Tennessee. The September production figures represent roughly 30 percent of all GMC Hummer EV production thus far, and roughly 58 percent of all Cadillac Lyriq production thus far.
Looking ahead, GM hopes to launch 30 new EV models globally by mid-decade.
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Looks like contrary Mary may be farther into bed with joe than we thought, he can’t lie through his teeth either without screwing it up.
This is a car site. Please take your political views elsewhere. You cant prove anything about Barra or Biden.
EV’s will never be popular until charging stations will equal the number of gas and diesel pumps at fueling stations. Why get an EV if you cannot charge it? Stupid to push them and quit ICE.
Have a look at Plugshare. There are thousands of chargers across the country. Research before commenting.
Kretch – thousands across the country? Wow that’s a lot. Also it takes me less then 10 minutes to fill my 2022 Silverado Duramax. How long to charge a empty EV? 1/2 hour to 45 minutes.
So? 10 minutes to fill your Silverado. Bully for you. I was saying that there are thousands of chargers across the country. You can read cant you?
kretch – I know what you said, and I made the point that “thousands of chargers” in a country this big doesn’t mean squat. Plus I mentioned how long it takes to use them.
Maybe it doesn’t mean squat to you but to EV owners it is very important. You don’t like EVs so that’s fine. Don’t buy one. I will have no problem waiting to charge. I will be able to charge overnight and the car is ready to go. Simple.
You are making the mistake of equating the existing infrastructure needed for gas vehicles to that needed for EVs.
There are already millions of potential charging locations for EVs. Anywhere with a plug can be an EV charging spot.
Not 45 minutes. Not even battery wrecking quick charging.
Go look at getting 300-400 miles of charge on a battery. Hours of charging.
Level 3 Superchargers can take a Tesla from 0-170 miles range in just 30 minutes. It can get to 80% full in just 40 minutes. At the 80% point, charging slows to safeguard battery health.
How much does it cost to fill the tank of your Duramax? Can you do it at home, overnight? What about noise and odor?
Practically every EV owner has or will have their own, personal charging station at home. Why would I want to charge my car at a public station unless I’m on a long road trip? The focus in developing charging infrastructure must be for multi family dwellings. Legislation may be needed to facilitate partnerships among utilities, landlords and HOAs to upgrade building electrical systems and provide low-cost financing.
Your comment is 100% what I was going to write. Thank you for beating me to it.
You don’t need as many dedicated charging stations as gas stations.
There are millions up millions of electric outlets that can be used for EV Charging.
There are about 115,000 gas stations in the US.
Currently about public 48,000 EV charge stations. And public charging is growing rapidly.
But you don’t need as many EV charging stations as gas stations because there are millions of homes with electricity and outlets.
Good luck with that! Just keep building plenty of ICE vehicles for the majority of us.