BONUS PODCAST: How GM’s EV Strategy Went From Setbacks To Success
EV News Daily - Technology and Business of EVs
Martyn Lee
4.8 • 749 Ratings
🗓️ 2 October 2024
⏱️ 22 minutes
🧾️ Download transcript
Summary
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- Record-Breaking Sales Figures: Explore how GM achieved a 60% surge in electric vehicle sales, reaching a new record
- Market Share Gains: Understand GM's strategies and the growing consumer acceptance of its electric offerings.
- Diverse EV Portfolio: Remind you about GM's range of electric vehicles that cater to a variety of preferences, including standout models like the Chevrolet Equinox EV and Cadillac Lyriq.
- Future Plans for Electrification: Talk about GM's ambitious plans for expanding its EV lineup, including upcoming models and investments that aim to capture a larger segment of the market.
- Challenges and Opportunities Ahead: And finally get some insight into the challenges GM faces in the competitive electric vehicle landscape, as well as the opportunities that could drive future growth.
Transcript
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| 0:00.0 | Welcome back to eB News Daily and welcome to a special bonus podcast looking at a turnaround in the United States EV market. |
| 0:06.3 | General Motors just released their results for the third quarter of 2024. |
| 0:10.6 | And I'm sifting through them and realizing they tell quite a story of a remarkable turnaround in the EV business. |
| 0:16.9 | This is a turnaround that could be a sign of things to come. |
| 0:20.3 | Have they got all those production issues in the rearview mirror? |
| 0:23.6 | Or will GM go back to struggling to eat into Tesla's dominance? |
| 0:29.1 | Well, after years are promising to bring compelling EVs to market for so long, GM's |
| 0:34.8 | EV volumes were basically driven entirely by the Bolt and lastly the Bolt's |
| 0:38.6 | EUV. Those were cars built on aging technology and have now been sunsetted. There's new |
| 0:45.2 | versions coming. I'll get onto that. But they had to prop up GM while they developed their |
| 0:49.8 | ultium sales partnership with LG. I've done plenty of podcasts in the archive all about those factories, |
| 0:56.1 | the investments, where they're built, and all. You can listen to those if you want to, but |
| 0:59.4 | that's not one for today. That project, though, saw plenty of investment. I mean, significant |
| 1:04.2 | investment, but it stumbled and stalled as the production ramp up was plagued by teething problems. |
| 1:09.5 | On today's podcast, we'll explore how GM |
| 1:11.4 | had a 60% surge in their EV sales, reaching a new record. We'll understand GM's strategies |
| 1:17.7 | and the growing consumer acceptance of their EV offerings. I remind you about GM's range, |
| 1:23.0 | which ones did well, not so well, and also talk about GM's plans for expanding the EV lineup, upcoming |
| 1:28.7 | models and investments. And finally, we'll get to some insight into the challenges, the GM and their |
| 1:35.2 | battery cell partners faced in getting those cells out of the door and why that could be the key |
| 1:42.9 | to this turnaround. Okay, let's start with some |
| 1:46.1 | background then. Mary Bara, the CEO of General Motors, famously went on the record to say that |
... |
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