In a press release, General Motors outlines some of the company’s short-term electrification targets.
The company will soon complete their electric vehicle portfolio and aim to have multiple electric offerings in 70% of the industry segment.
By 2025, GM is targeting $500 billion in EV revenue per year. The company’s CEO, Marry Barra, stated the following:
“GM’s ability to grow EV sales is the payoff for many years of investment in R&D, design, engineering, manufacturing, our supply chain and a new EV customer experience that is designed to be the best in the industry,” said GM Chair and CEO Mary Barra.
Barra also discussed how GM’s “multi-brand, multi-segment, multi-price point EV strategy” provided “tremendous leverage” to grow revenue and market share.
“Our multi-brand, multi-segment, multi-price point EV strategy gives us incredible leverage to grow revenue and market share, and we believe our Ultium Platform and vertical integration will allow us to continuously improve battery performance and costs.” said Mary Barra
The Chevrolet Silverado EV, Equinox EV, and Blazer EV, Cadillac LYRIQ, and GMC Sierra EV will be the main EV models. Meanwhile, other vehicles such as the recently introduced Cadillac Celestiq will serve as flagships for the company, although they won’t have a huge commercial impact given their limited sales numbers.
In North America, GM is targeting production of 400,000 EVs from 2022 through the first half of 2024. By 2025, the automaker aims to produce 1 million EVs annually in North America.
