Wiktor Wise
General Motors (GM) has set ambitious targets for its electric vehicle (EV) business, aiming to produce 1 million EVs in North America by 2025 and top Tesla as the EV sales leader. However, there are concerns that battery bottlenecks and slow progress at its US battery plants may impact these goals. GM has already faced challenges with the discontinuation of its affordable Chevrolet Bolt EV and the delay in ramping up production of its Cadillac Lyriq and GMC Hummer EV models. Despite these setbacks, GM remains committed to its EV transition and expects profits from its EV business to be comparable to gas vehicles by 2025. The company has outlined plans for several new EVs, including all-electric versions of popular models, and intends to lead the industry in the shift towards electrification.
| Characteristics | Values |
|---|---|
| GM's 2025 goal | To bring a host of EVs to market and top Tesla |
| GM's EV production target by 2025 | 1 million vehicles |
| GM's EV production capacity by 2025 | 1.35 million EVs |
| GM's expected EV production by 2025 | 50,000-600,000 EVs |
| GM's EV profit expectation by 2025 | Comparable to gas vehicles |
| Number of new EVs to be released by 2025 | 30 globally, including more than 20 in North America |
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What You'll Learn
GM's 2025 goal of 1 million EVs
General Motors (GM) has set an ambitious goal of producing 1 million electric vehicles (EVs) in North America by the end of 2025. This target was announced by CEO Mary Barra, who stated that GM aims to become the EV sales leader and surpass Tesla. However, recent reports suggest that GM may not achieve this goal due to various challenges.
One of the main obstacles is the slow progress of its US battery factories, which could result in battery bottlenecks and limit GM's EV production to less than 600,000 units by 2025, according to a Reuters analysis. In addition, GM has faced issues with the launches of its Ultium-based vehicles, encountering software, manufacturing, and quality problems. These factors have contributed to concerns about whether GM can meet its target.
Despite these challenges, GM has made significant strides in the EV market. In 2024, GM was the second-largest seller of EVs in the US during the second half of the year. The company also introduced several long-range EVs, such as the Chevrolet Silverado EV and the GMC Sierra EV Denali, both with impressive ranges of up to 400 miles. Additionally, GM has plans for the 2025 Chevrolet Equinox EV, which is estimated to have a range of 319 miles on a full charge.
While GM's goal of producing 1 million EVs by 2025 may be ambitious, the company remains committed to advancing battery technology and expanding its EV lineup. However, with the discontinuation of its affordable Chevrolet Bolt EV and Bolt EUV models, there are concerns about the accessibility of GM's EV offerings. Nonetheless, GM's EV strategy is adaptable, and the company intends to align its production with market demand.
Although GM's original target of 1 million EVs by 2025 may not be met, the company is optimistic about the growth of the EV market share. With its ongoing efforts and adjustments to its EV strategy, GM is likely to remain a key player in the transition to electric vehicles, even if the timeline for achieving its production goals shifts.
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Battery shortages
General Motors (GM) has set ambitious goals for its electric vehicle production in the coming years. CEO Mary Barra has stated that GM aims to produce 1 million EVs in North America by 2025, overtaking Tesla as the EV sales leader. However, there are concerns that battery shortages may impact these plans.
A recent analysis by Reuters suggests that GM's EV production by 2025 could be limited to less than 600,000 units due to battery bottlenecks. As of mid-2023, GM has not ramped up production of its Cadillac Lyriq or GMC Hummer EVs, nor has it launched other planned EVs. The slow progress of its US battery factories and supply chain issues are contributing factors to the potential shortfall.
The demand for lithium-ion batteries has surged in recent years, and it is expected to continue rising. This has led to concerns about potential shortages in the mining and processing of raw materials such as lithium, cobalt, and nickel. In response, GM has been working to secure its supply of these critical materials. For instance, they have partnered with Glencore for a multi-year sourcing agreement for cobalt and are building a new facility in Quebec, Canada, with POSCO Chemical to produce Cathode Active Material (CAM) for their Ultium batteries.
GM plans to rely on three battery factories in the US to support its EV production. The first factory in Ohio is already operational, and a second plant in Tennessee is expected to begin production in early 2024. However, with the third factory not opening until 2025, it seems challenging for all three to reach full production capacity by GM's target year.
While GM maintains that its guidance has not changed, AutoForecast Solutions highlights the difficulty of manufacturing over half a million EVs in 2025 based on the company's current battery production plans. The automaker has not disclosed its production targets for 2024 and 2025, but it remains to be seen if they can overcome the battery supply constraints and achieve their ambitious EV goals by the set deadline.
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Chevrolet Bolt EV
In 2012, GM Korea began developing the Chevrolet Bolt EV, which was unveiled at the 2015 North American International Auto Show. The Chevrolet Bolt EV is an electric car that offers impressive performance, advanced technology, stand-out looks, and plenty of space. With a single full charge, the Bolt EV can reach 100 km/h in 7.3 seconds and has an NEDC-estimated range of 520 km. The car is designed for flexible production, with the battery in the same position as the fuel tank in internal combustion engine-powered cars, allowing it to be assembled on the same line as the Chevrolet Sonic.
The Bolt EV's charging process is straightforward, similar to charging a mobile phone. It can be charged at home using a 220-240V charging station overnight, or on the go using the DC Fast Charging system, which provides an estimated 145 km of range in just 30 minutes. The car's tablet-like display provides easy access to real-time vehicle information such as battery levels, range estimations, and charge settings. Additionally, the Bolt EV requires less maintenance than a petrol vehicle, eliminating the need for oil changes and reducing engine upkeep costs.
In August 2021, Chevrolet recalled all Bolt models (EV and EUV) from 2017 to 2022 due to battery manufacturing defects, affecting nearly 142,000 vehicles. GM replaced the recalled batteries and worked with LG Chem to ramp up production of replacement battery cells. Despite this setback, GM remains committed to its EV plans, with CEO Mary Barra reiterating the goal of producing 1 million EVs in North America by 2025.
However, as of 2023, GM's progress towards this goal appears slow, and battery shortages may impact their ability to meet the target. The discontinuation of the Chevrolet Bolt EV and Bolt EUV at the end of 2023 has also drawn public outcry, although GM has announced plans for a second-generation Bolt using Ultium hardware and Ultifi software, scheduled for the 2026 model year.
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GMC Hummer EV
General Motors (GM) has expressed its intention to bring a wide range of EVs to market and surpass Tesla by 2025. However, the company appears to be lagging, and battery shortages may pose a challenge. As of May 2023, GM had not ramped up production of its Cadillac Lyriq or GMC Hummer EV, which are among its offerings in the electric vehicle market.
The GMC Hummer EV is a significant part of GM's electric vehicle strategy. The GMC Hummer EV is available as both a pickup truck and an SUV, offering revolutionary features and capabilities. The Hummer EV Pickup truck is designed to dominate various terrains, while the Hummer EV SUV combines the features of the pickup with the versatility of an SUV.
The GMC Hummer EV electric pickup truck and SUV offer several charging options with different charger output ratings available at home and on the go. The vehicles are powered by a revolutionary battery platform, delivering exceptional range, exhilarating performance, and professional-grade capability. Hummer EV drivers can take advantage of approximately 250,000 chargers across the U.S. and Canada, with two common speeds of public chargers: Level 2 and DC Fast Charging.
The GMC Hummer EV also provides advanced features such as 4-Wheel Steer, enabling improved manoeuvrability and a tighter turning circle through CrabWalk technology. This feature allows the rear wheels to turn in phase with the front wheels at low speeds, enabling diagonal movement to navigate tight trails. Additionally, the Hummer EV offers One-Pedal Driving, utilising regenerative braking to capture and repurpose energy during deceleration.
The GMC Hummer EV offers a range of personalisation options with GMC Accessories specifically designed, engineered, and tested by GM to fit the vehicle's specifications. The interior of the Hummer EV is inspired by intergalactic travel, featuring a Lunar Horizon-themed design in Jet Black and Light Grey, as well as a Lunar Shadow interior in Jet Black and Taupe with Tech Bronze accents.
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Cadillac Lyriq
General Motors (GM) has plans to bring a host of electric vehicles (EVs) to market and top Tesla by 2025. However, there are concerns that the company is falling behind its goal of producing 1 million EVs in North America by 2025 due to battery bottlenecks.
One of the EVs in GM's lineup is the Cadillac Lyriq, a luxury mid-size all-electric SUV. The 2025 Cadillac Lyriq blends futuristic looks and plentiful tech features with old-school Cadillac road manners, making it a cruiser rather than a luxury-sport EV contender. The Lyriq comes standard with a large, curved 33.0-inch digital dashboard display, wireless Apple CarPlay and Android Auto, a wireless smartphone charging pad, a fixed glass roof, 20-inch wheels, and faux leather upholstery.
The Lyriq offers six distinctive models, with features such as Galvano Chrome detailing, gloss black finishes, an illuminated black crystal front grille, and an 8-way power driver and 6-way power passenger adjustability. The Luxury 2 trim adds a hands-free power liftgate, a 19-speaker AKG stereo system, active noise cancellation, ventilated front seats with massage, and Cadillac's hands-free Super Cruise driving mode.
Performance-wise, the Lyriq takes a different approach from most luxury EVs, prioritizing comfort over handling prowess. Its acceleration is adequate, and it gets up to speed as well as most gas-powered SUVs, but it will lose a drag race against many of its class rivals. The Lyriq's steering is nicely weighted but lacks tactility, and its suspension may be too soft for some. However, its range is impressive, with EPA estimates of over 300 miles.
Overall, the Cadillac Lyriq offers a blend of style, technology, and comfort, making it a compelling option for shoppers who prioritize features and range over performance.
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Frequently asked questions
No, GM has said it will be capable of producing 1 million EVs in North America by 2025, but battery bottlenecks may limit production to less than 600,000.
GM plans to release at least 30 new EVs globally by 2025, including more than 20 in North America.
GM's Ultium platform is a battery platform developed in partnership with LG Energy Solution. It will be used in virtually all of GM's newest EVs in North America.
Yes, GM expects profits from its electric vehicles to be in line with cars and trucks with traditional engines by 2025.
