The Michigan investments will give GM more than 1 million units of EV capacity in North America through 2025, Barra said, including 600,000 full size trucks. The automaker plans to also have more than than 1 million units of EV capacity in China over the same timeframe.
“I can tell you right now, 1 million units in North America won’t be enough to meet the steep inflection in demand that we expect starting mid-decade for our EVs,” Barra said. “That’s why we’ll continue to convert ICE capacity to EVs and plan to invest in a third EV truck plant. We are formulating plans for the truck plant right now and we’ll share more as we work through the details.”
Barra also outlined the number of reservations GM has logged for some of its initial Ultium-powered EVs: the GMC Hummer EV pickup and SUV, the Chevrolet Silverado EV and BrightDrop delivery vans. The tally totals to more than 190,000 reservations and does not include reservations for the Cadillac Lyriq, which goes on sale in March. Cadillac will open a second round of reservations after the debut edition launches, Barra said.
Barra expects that the Chevy Equinox EV – priced at about $30,000—will be one of GM’s most anticipated reveals this year. The electric crossover is slated to go on sale in 2023. GM also plans to launch an EV priced lower than the Equinox, Barra said.
“The efficiencies created by the Ultium platform are a key reason why we will be able to deliver a truly affordable EVs like the Equinox,” Barra said. “Affordable EVs are part of the market that startups aren’t targeting, but they are key to driving mass adoption of EVs, which is a national and a global priority.”
Ultium Cells, a joint venture between GM and LG Energy Solution, have announced locations for its first three battery cell plants in Lansing; Warren, Ohio; and Spring Hill, Tenn. Barra said the automaker would announce a location for a fourth U.S. battery cell plant in the first half of this year.
“Together, these plants will support GM’s EV volume growth and supply our customers in the rail, aerospace and marine industries,” Barra said.
