The company General Motors is accelerating its electric-vehicle efforts, pulling forward the schedule on many future launches, and expanding the number of EV models it sells globally to 30 by the end of 2025. Here it is the words of Mary Barra, Ceo. Two new all-electric Chevrolet vehicles are coming: they are a full-size pickup truck and a compact crossover utility vehicle, whose schedules have been pulled forward by 11 months and a whopping 21 months.
Fully 40 % of the GM models sells by the end of 2025 will be battery-electric: more than two-thirds of those 30 different electric vehicles will be offered in North America. They will include entries from all four GM brands: Buick, Cadillac, Chevrolet, and GMC.
Moreover, the company will pull forward the launch date for its 2023 Cadillac Lyriq: from the end of 2022 to the first quarter of that year. This reflects the company’s new standard timeline for development of new Ultium vehicles. It will have taken the 2022 GMC Hummer EV just 34 months from program approval in the summer of 2018 to the first production model rolling off the assembly line at the end of next year.
Ultium is already a key achievement in electrification, with battery pack costs nearly 40% lower than the Chevrolet Bolt EV. Despite the pandemic, GM’s work on electric vehicles accelerated during 2020.
GM is projecting that second-generation Ultium packages, expected in the mid-decade, will cost 60 percent less than batteries in use today at double the expected energy density.
These second-generation cells will approach cost parity with gas-powered engines.