General Motors Increases EV Capacity In North America To One Million Units Per Year

GM expects big profits in 2025 due to increased EV production in North America (photo: GM)

JAKARTA - General Motors confirmed that it will increase its EV capacity in North America to more than one million units per year.

Thus, GM estimates that its fast-growing electric vehicle portfolio will be very profitable by 2025 in the region.

GM's ability to increase EV sales is the result of years of investment in R&D, design, engineering, manufacturing, our supply chain, and the experience of new EV customers designed to be the best in the industry, said GM Chair and CEO Maria Barra, in a release shared on GM's official website.

According to him, GM's multi-brand EV strategy, multi-segment, and multi-price will provide companies with extraordinary leverage to increase revenue and market share.

"We believe our Ultium Platform and vertical integration will allow us to continue to improve the performance and cost of batteries."

In the next three years, GM plans to move aggressively towards leading the EV market as EV adoption is expected to approach 20% of US industrial sales by 2025.

The foundation to encourage this mission is that GM will have many entries in the pickup, SUV and luxury segments representing about 70 percent of EV industry volume.

GM also launched a new digital retail platform with its dealers partners in the US, and started building EVs at five GM assembly plants in the US, Canada, and Mexico.

The CAMI GM plant in Ontario will launch full production of the BrightDrop Zevo 600 delivery van next year, and upgrade to a projected 50,000 units annually by 2025.

Additionally, the joint venture of the GM Ultium Cells battery cell will operate the plant in Ohio, Tennessee and Michigan by the end of 2024.

Lastly, the company says it has secured binding commitments to all battery raw materials needed to achieve its 2025 capacity target.