From CNBC: 2024-10-08 15:26:07

General Motors announced its new Ultium platform and battery system at its Tech Center campus in Michigan. The brand “Ultium” for EV batteries and technologies will be dropped as GM rethinks its strategy. The company is on track to produce 200,000 EVs this year and achieve profitability. GM is shifting focus and rethinking EV strategy amid leadership changes and slower-than-expected EV adoption.

GM has invested billions in developing Ultium batteries but will drop the name, keeping the technology. The company is rethinking its EV battery strategy amid new market conditions and influx of Tesla veterans in leadership roles. GM’s EV sales are growing, with a 60% increase in Q3 but still make up a small portion of total sales. The company is moving towards a multi-chemistry, multi-form factor strategy for batteries.

The upcoming Super Bowl ad for GM’s EVs will feature Will Ferrell as part of the “Everybody In” campaign. The company will optimize its EV strategy after years of marketing Ultium. GM is also rethinking plans for a second all-electric vehicle plant in Michigan, delaying production by at least a year. The Orion plant was expected to be operational by the end of 2024 before the delay.



Read more at CNBC: GM ditching ‘Ultium’ name for batteries, tech amid EV changes