General Motors (GM) President Mark Reuss expressed confidence that the automotive giant’s electric vehicles (EVs) would turn profitable after 2025, primarily attributed to their innovative Ultium platform. Speaking at the Automotive News Congress in Detroit, Reuss shared that GM had already produced 50,000 EVs in North America during the first half of the year and had ambitious plans to manufacture 100,000 more in the latter half.
Reuss emphasized that the key to GM’s future success in the EV market lies in designing their vehicles from the ground up for battery integration, as opposed to retrofitting existing internal combustion models. He stated, “That’s the opportunity. We’re just unlocking it right now. I think when you get past ’25, you’re going to start seeing that.”
Importantly, Reuss clarified that GM’s commitment to EVs and the Ultium platform predates the President Joe Biden’s Inflation Reduction Act (IRA). GM embarked on this journey four years ago, laying the foundation for profitability through scalability, cell plant development, and strategic partnerships.
GM’s strategic approach doesn’t solely rely on the Ultium platform. The company has solidified crucial battery partnerships with LG Energy Solution and Samsung SDI, leading to plans for the construction of four EV battery plants. By mid-2024, GM aims to have produced approximately 400,000 EVs, with the capacity to manufacture up to 1 million annually starting in 2025.
