Much of GM’s momentum is provided by its Ultium EV strategy, which once mystified stock analysts. Ultium is the prime reason GM is launching high-volume EV products into multiple segments. GM is on track to open 4 battery cell plants targeting 160GWh of capacity. GM is targeting 1M annual EV capacity in North America by 2025. Ultifi will help open up $20B-$25B in annual software and service revenue by 2030, including OnStar.

“By leveraging U.S.-made battery cells produced by our Ultium Cells joint venture and the scalability and flexibility of the Ultium Platform, we are accelerating production of the Cadillac LYRIQ, GMC HUMMER EV and BrightDrop Zevo 600, and we will launch exciting vehicles like the Chevrolet Silverado EV, Blazer EV and Equinox EV,” said CEO Mary Barra. “This keeps us on track to produce 400,000 EVs in North America from 2022 through the first half of next year. Our EVs are transformational in so many ways. We’re earning new customers. Our investments are creating new jobs. We’re moving closer to a world with zero crashes, zero emissions and zero congestion, and we believe our R&D, supply chain, manufacturing scale and distribution network will unlock the profitability of EVs.”