GM’s Reuss says company has laid groundwork for profitable EVs
DETROIT — General Motors is working to build out its supply chain for electric vehicles and unlock profitability as it achieves efficiency and scale, company President Mark Reuss said Tuesday.
That comes as the automaker aims to make 100,000 electric vehicles in the second half of this year, building on the 50,000 EVs produced in North America in the first half of this year, he said.
“As some of these things come online, you’re going to see profitable EVs, and that comes from doing our architectures from the ground up for batteries and not retrofitting things that were internal combustion,” Reuss said at the Automotive News Congress in Detroit.
GM developed the Ultium battery platform used for all of its EVs — except the outgoing Chevrolet Bolt EV and EUV, which are built on GM’s previous-generation battery architecture. Ultium offers efficiency, capability, proportion and functionality, Reuss said.
“That’s the opportunity. We’re just unlocking it right now,” he said. “I think when you get past ’25, you’re going to start seeing that.”
GM executives said at an investor day in November that it is projecting EV margins in the low- to mid-single digits in 2025, including emissions credits and software and aftersales revenue, before factoring in the impact of federal EV tax credits from the Inflation Reduction Act.
