The future is electric, so to speak.
General Motors today said that the Wallace Battery Cell Innovation Center will be located on the campus of GM’s Global Technical Center in Warren, Michigan. The all-new building “will significantly expand the company’s battery technology operations and accelerate development and commercialization of longer range, more affordable electric vehicle batteries,” GM said in a release. GM will also use the facility to integrate the work of GM-affiliated battery innovators, helping the company to reach its stated goal of at least 60 % lower battery costs with the next generation of Ultium.
The latest GM announcement comes just one day after it said it reached a deal with Wolfspeed (to develop and provide silicon carbide power devices for GM’s future electric vehicle programs. Wolfspeed’s silicon carbide devices will allow GM to “install more efficient EV propulsion systems that will extend the range” of its growing EV portfolio. Continue reading
GM’s Dual Platform Strategy – Doubling Revenues by 2030?
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General Motors (NYSE: GM) told investors today that it plans to double annual revenues by the end of the decade while growing EBIT-adjusted margins as it transitions to an all-electric future. GM has already announced plans to invest $35 billion through 2025 in all-electric and autonomous vehicles and launch more than 30 new EVs globally, of course
However, the success of the prediction will depend on GM smoothly transitioning from internal combustion engines, traditional blacksmithing manufacturing, while keeping dealers and training them for what is the most significant transformation the auto industry has ever seen. This is how science fiction becomes science fact with GM selling more than one million EVs by 2025; 30 million connected vehicles in North America on the road by 2030. Along the way the United States and ultimately the world will turn into an environmental culture that uses technology to make things cleaner and safer. Continue reading →