GM Boosts Investment, Grows Electric Portfolio to Lead in EV Race
Thu, November 19, 2020
"Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle," said Barra. "We are transitioning to an all-electric portfolio from a position of strength and we're focused on growth. We can accelerate our EV plans because we are rapidly building a competitive advantage in batteries, software, vehicle integration, manufacturing and customer experience."
At the virtual
- By 2025,
GMwill launch 30 EVs around the world, and more than two-thirds will be available in North America. Cadillac, GMC, Chevrolet and Buick will all be represented, with EVs at all price points for work, adventure, performance and family use.
- Engineering advances have increased the previously stated
GM-estimated maximum range of Ultium-based vehicles from 400. GM'sUltium-based EVs, when produced, will be capable of driving ranges up to 450 miles on a full charge1. GM'sversatile Ultium platform provides the building blocks for everything, from mass market to high performance vehicles – all from a single, common cell in most markets and a set of interchangeable propulsion components.
- More than half of
GM'scapital spending and product development team will be devoted to electric and electric-autonomous vehicle programs. GM'ssecond-generation Ultium chemistry is projected to deliver twice the energy density at less than half the cost of today's chemistry. GMis already prototype testing this next-generation technology, which is expected to be available mid-decade.
- Ultium technology, supported by hundreds of granted patents and pending patent applications, is expected to bring EVs closer to price parity with gas-powered vehicles.
- Both the GMC HUMMER EV and Cadillac LYRIQ programs were accelerated, along with other vehicles to be revealed at a later date.
GMis hiring 3,000 electrical system, infotainment software and controls engineers, plus developers for Java, Android, iOS and other platforms. GMcontinues to explore third-party licensing for its Ultium EV architecture, batteries and propulsion systems, along with its Hydrotec fuel cell technology developed with Honda. GM, in collaboration with its dealers, will leverage its sales and service capabilities and software-powered innovations to deliver an exceptional customer experience for EV loyalists and new EV customers alike.
Ultium already represents a milestone achievement in electrification, with battery pack costs nearly 40 percent lower than those in the Chevrolet Bolt EV. Despite the pandemic,
Now, just eight months after the technology was first revealed,
These second-generation cells will get closer to cost parity with gas-powered engines due to:
- Cell design that enables higher energy density and uses less non-active material, making more room for the part of the battery that produces energy.
- Manufacturing efficiencies through
GM's Ultium Cells LLCjoint venture with LG Chem.
- Better integration between vehicles and their battery packs, enabling fewer cells and modules.
- Less expensive cathodes, reduced active material, novel electrolytes and the first use of lithium metal anodes in a
The Ultium platform is flexible enough to accept new chemistry and even cell types, without redesigns to its architecture. Ultium batteries will be easy to service at the module level, which makes repair costs less expensive than having to replace the whole pack.
The modular and highly flexible qualities of the Ultium system, along with engineering advances in battery technology, the use of virtual development tools and lessons learned during the HUMMER EV development process, have enabled
The 2022 GMC HUMMER EV's development time of 26 months – down from about 50 months – is now the benchmark.
The development schedules for 12 vehicle programs have been moved up, including:
- GMC HUMMER EV
- Three other GMC Ultium variants, including an EV pickup
- Four Chevrolet EVs, including a pickup and compact crossover
- Four Cadillacs
In addition, Buick's EV lineup will include two Ultium-based EVs.
After the GMC HUMMER EV, the next EV to launch will be the LYRIQ,
"Ultium is already changing the way customers – and investors – view our company," Barra said. "We are resolved as a management team to move even faster to expedite the transition to EVs. The all-electric future we are building integrates all the things we do better than anybody else – so we can put everyone in an EV, generate profitable growth and create shareholder value."
Cautionary Note on Forward-Looking Statements: This press release may include "forward-looking statements" within the meaning of the
Phil Lienert, GM Communications, 313-530-1508, firstname.lastname@example.org; Jordana Strosberg, GM Communications, 313-268-9656, email@example.com