GM is building 6x more electric trucks and SUVs than expected in 2022, report says
General Motors presses the accelerator pedal. Well, the accelerator pedal.
The automaker is dramatically accelerating the planned production ramp of its electric trucks and Cadillac SUVs this year, according to a new Automotive News.
Suppliers told the outlet they had been informed that planned production of GMC Hummer electric vehicles, Chevrolet Silverado electric vehicles and Cadillac Lyriq SUVs had increased from 7,000 to 46,000.
GM CEO Mary Barra said repeatedly during the company’s earnings call last week that the company was scrambling to push forward investment in its new electric vehicles due to strong demand, as it aims to build one million a year in North America by 2025.
“As we said, we announced investments in battery cells and assembly capacity that will give us over one million units of EV capacity in North America by the end of 2025. “, GM said in a statement in response to the report. “We now have teams working to accelerate all of our upcoming electric vehicle launches, and our goal is to deliver 400,000 electric vehicles in North America during 2022 and 2023.”
|GM||GENERAL MOTORS CO.||51.33||+1.88||+3.80%|
|F||FORD MOTOR CO.||18.22||+0.50||+2.85%|
The Hummer EV is initially available in a premium model at $112,495, while the Lyirq starts at $59,990 and the Silverado EV at $39,900.
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GM is also aiming to restart production of the Chevrolet Bolt EV and Bolt EUV subcompact electric vehicles, which was halted while it deals with a battery fire issue affecting the models.
Ford is also working to increase the capacity of its electric vehicles faster than expected and is working to double production of the F-150 Lightning to 150,000 trucks per year by mid-2023.