background image

General Motors kills battery brand, revives EV profit outlook

author image

By illuminem briefings

· 2 min read


illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:

🗞️ Driving the news: General Motors (GM) announced plans to phase out its Ultium battery brand as it refines its electric vehicle (EV) strategy, aiming to improve profitability while continuing to invest in internal combustion engine (ICE) vehicles
• GM expects to sell 200,000 EVs in North America this year and achieve positive variable profit from EVs sooner than anticipated

🔭 The context: Despite GM's push toward electrification, demand for ICE vehicles remains strong, with the company dedicating one-third of its capital budget to improving its traditional vehicle lineup
• The decision to sunset the Ultium brand comes as GM explores vehicle-specific battery solutions for better performance and cost efficiency

🌍 Why it matters for the planet: GM's commitment to expanding its EV portfolio supports the global transition to cleaner energy, but the continued focus on ICE vehicles highlights the industry's balancing act between profitability and environmental goals

⏭️ What's next: GM plans to open a battery prototyping center in Michigan by 2027, which could accelerate battery development
• The company is also reviving the Chevrolet Bolt in 2026 with updated technology, aiming to keep it affordable while improving charging capabilities

💬 One quote: "We believe our EV losses peak this year, and we're focused on significantly improving profitability next year" — Mary Barra, GM CEO

📈 One stat: GM expects to produce and wholesale 200,000 EVs in North America in 2024, signaling a shift toward EV profitability

Click for more news covering the latest on the green tech

Did you enjoy this illuminem voice? Support us by sharing this article!
author photo

About the author

illuminem's editorial team - providing you with concise summaries of the most important sustainability news of the day.

Follow us on Linkedin, Twitter​ & Instagram

Other illuminem Voices


Related Posts


You cannot miss it!

Weekly. Free. Your Top 10 Sustainability & Energy Posts.

You can unsubscribe at any time (read our privacy policy)