General Motors outlined some of its short-term goals related to electrification. The company is committed to launching electric vehicles and soon aims to have multiple electric offerings in 70% of industry segments, according to InsideEVs.
By 2025, GM aims to generate $50 billion annually in EV revenue.
“GM’s ability to grow EV sales is the payoff for many years of investment in R&D, design, engineering, manufacturing, our supply chain and a new EV customer experience that is designed to be the best in the industry.” says General Motors CEO Marry Barra.
“Our multi-brand, multi-segment, multi price point EV strategy gives us incredible leverage to grow revenue and market share, and we believe our Ultium Platform and vertical integration will allow us to continuously improve battery performance and costs.”
Furthermore, she mentioned the positives of GM’s Ultium Platform and how it will improve steadily.
GM noted Chevrolet Equinox EV, Silverado EV, Blazer EV, GMC Sierra EV, and the Cadillac LYRIQ as key models that will raise sales.
Cadillac Celestiq as the brand’s flagship
Meanwhile, other vehicles like the Cadillac Celestiq will serve as flagships for the brand. However, it would not have a major commercial impact given the limited numbers in which they will be sold.
Annual production goal
In North America, the automaker aims to build 400,000 EVs from 2022 through the first half of 2024, and by 2025, the brand wants to make 1 million EVs yearly.
GM’s foundation to drive EV growth
In the coming three years, the carmaker plans to move toward EV leadership as EV adoption is expected to approach 20% of US industry sales in 2025, as per the press release.
- GM to have several entries in pickup, SUV, and luxury segments that represent about 70% of EV industry volume, including the Chevrolet Blazer EV, Equinox EV, Silverado EV, GMC Sierra EV, and the Cadillac LYRIQ.
- GM is debuting a new digital retail platform with its US dealer partners to enhance the shopping and purchase experience for EV consumers and lessen costs to GM by an estimated $2,000 per vehicle.
- Five US, Canada, and Mexico GM assembly plants will build electric vehicles.
- BrightDrop — GM’s tech startup creating EVs, eCarts, and software — is on track to reach $1 billion in revenue in 2023, as GM’s CAMI plant in Ontario launches full production of the BrightDrop Zevo 600 delivery van next year and scaling to a projected 50,000 units annually by 2025.
- GM’s battery cell joint venture Ultium Cells will be operating plants in Ohio, Tennessee, and Michigan by the end of 2024, making the company a leader in domestic cell production; a fourth US cell plant is planned.
- GM has secured binding commitments for all the battery raw materials it needs to deliver its 2025 capacity target.
- The automaker continues to secure its needs beyond 2025 with strategic supply agreements and direct investments in natural resource recovery, processing, and recycling.
- The company’s EV growth is backed by a highly profitable portfolio of internal combustion engine (ICE) vehicles in North America, including market-leading pickups and SUVs, great quality, and consistently high scores for customer satisfaction with dealer sales and service.
