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☆ Detroit went all-in on big, expensive EVs nobody wants. Here's what the data shows they'd rather buy.
▼ + stars: | 2024-03-31 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

Read previewWhen the automotive industry started looking toward an electrified future, Detroit automakers decided to throw their hat in the ring with what they do best: Pickup trucks. Electric pickup truck pioneer Rivian has also warned of slowing growth, and Elon Musk's Tesla already appears to be offering some purchase incentives for the Cybertruck. Only four EVs sell in that range at the moment, according to Edmunds, and none of them are sold by Detroit automakers. On average, EVs sold for around $61,700 last year, $14,250 more expensive than the typical price paid for non-electric vehicles, Edmunds said. AdvertisementGM is taking another approach, pulling back on EV production as the company plans to bring more hybrids (a segment that has seen demand increase while EV demand wanes) to the North American market later this year.

Persons: —, Ford, Rivian, Elon Musk's Tesla, Edmunds, Jessica Caldwell, EVs, BCG, Jim Farley Organizations: Service, Detroit, Ford, Business, GMC, EV, Associated Press, Edmunds, Detroit automakers, Leaf, Fiat 500e, Hyundai Kona Electric, Boston Consulting Group, Bloomberg, North Locations: Detroit, Edmunds

☆ A Rivian R1T blew through steel guardrails, reflecting safety experts' warnings about heavy vehicles and even heavier EVs
▼ + stars: | 2024-02-03 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +6 min

The crash test highlights safety experts' concerns about faster and heavier EVs. AdvertisementA new video of a Rivian truck bursting through steel guardrails during a crash test highlights some of the safety concerns experts have raised about heavy electric vehicles. Bigger the car, deadlier the crashSafety experts have previously raised concerns about the risks heavy vehicles and heavier EVs could bring to the roads. In the UK, safety experts say the heavier weight could cause older parking garages across the country to collapse. "There is some urgency to address this issue," Cody Stolle, Midwest Roadside Safety Facility's assistant director, told the publication.

Persons: —, Rivian, Ann Carlson, Charles Krupa, Kevin Heaslip, Politifact, Steve Patton, Alexa St, John, Zhe Ji, Myles Russell, they're, Cody Stolle, Ford Organizations: Service, University of Nebraska, Safety Facility, Nebraska Today, Midwest, Safety, National, Traffic Safety Administration, Reuters, Insurance Institute for Highway Safety, Center for Transportation Research, University of Tennessee, P Global Mobility, EV, Alexa, Ferrari, GMC, Ford, Madison Hall, McLaren, Anadolu, Getty, Research, Tesla Locations: Manchester , New Hampshire, Canadian, North America

☆ I'm a car dealer who only sells electric cars. This is what everyone else is getting wrong — and the advice I give prospective EV buyers.
▼ + stars: | 2023-10-29 | by ( Alexa St. John | ) www.businessinsider.com time to read: +8 min

Alex Lawrence is the CEO and cofounder of an all-electric used car dealership in Utah. AdvertisementAdvertisementAlex Lawrence is a 49-year-old entrepreneur and the CEO of EVAuto, an all-electric used car dealership in Bountiful, Utah, which he co-founded in 2019. EVAuto sells a variety of electric cars, from Tesla to Porsche to Rivian. We wanted to be the largest seller of used electric vehicles in America. Now that they're going to be on the Supercharger network, that helps solve the charging problem.

Persons: Alex Lawrence, Alexa St, John, —, EVAuto, Price, I'm, I've, they've, they're, Lorenzo Di Cola, It's, you'll, We've, Tesla, it's, Tim Levin Organizations: Service, Porsche, Ford, Chevrolet, GMC, Plaid Locations: Utah, Bountiful , Utah, America, Italy

☆ These 20 electric cars are selling below sticker price — and rising incentives could help you get an even better deal
▼ + stars: | 2023-10-21 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

More and more deals are starting to hit electric cars these days. Here's 20 EVs discounted heavily from sticker price, according to Edmunds. As the auto industry scrambles to recover from overestimating EV demand this year, more electric cars are on dealer lots. That can be significant given electric cars, on average, went for $50,683 last month, per Kelley Blue Book data. AdvertisementAdvertisementHere's a look at 20 EVs selling below sticker price, and for how much (not including additional manufacturer incentives, which reached their highest levels recently).

Persons: Edmunds, —, Kelley, Cadillac Lyriq, Chevrolet Bolt Organizations: Service, EV, GMC, Cadillac, Chevrolet Locations: Edmunds, stoke

☆ Tesla's Cybertruck is almost here — but don't bet on it being affordable
▼ + stars: | 2023-10-19 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

In 2021, all that information vanished from Tesla's website, leaving future customers in the dark about their dream truck's eventual price. AdvertisementAdvertisementMusk tempers expectations about an affordable CybertruckOn Tesla's earnings call on Wednesday, Musk attempted to dispel any expectations of an accessible Cybertruck — at least initially. The more trucks Tesla can churn out of its Texas Gigafactory, the cheaper it can sell each one for. And Musk said he foresees "enormous challenges" in ramping up Cybertruck production, mainly because the unusual truck requires new manufacturing processes. Tesla's website says the Cybertruck will offer up to 500 miles of range and hit 60 mph in a brisk 2.9 seconds.

Persons: Tesla, it's, —, Elon, It's, Musk, Ed Kim, AutoPacific Organizations: Service, GMC Hummer Locations: Texas

☆ GM to delay all-electric truck production at Michigan plant until late-2025
▼ + stars: | 2023-10-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. A GM spokesman did not immediately respond to a request for comment regarding the company's EV production target. Alongside the Silverado EV, Factory Zero is currently building the GMC Hummer EV pickup and SUV and Cruise Origin shuttle. The plant was expected to be its second U.S. assembly plant to exclusively produce EVs. Roughly 1,000 hourly workers at Orion Assembly will have the option to transfer to other Michigan facilities until the retooling at Orion Assembly is completed.

Persons: Kimberly Fuhr, Motors, GM's Organizations: UAW Local, Bolt, General Motors Orion Assembly, DETROIT –, GM, Orion Assembly, Motors, Orion, United Auto Workers, UAW, Chevrolet Silverado, GMC, Silverado, Silverado EV, CNBC Locations: Orion Township , Michigan, DETROIT, Michigan, Detroit, North, Sierra

☆ GM postpones electric truck production
▼ + stars: | 2023-10-17 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —General Motors is putting off adding a second factory for production of its electric pickups until late 2025, the automaker announced Tuesday. But GM had planned to start producing the electric pickups at an additional Michigan factory, Orion Assembly just north of Detroit, as well. Instead, when those electric vehicles go out of production at the end of this year, the factory will not shift quickly to making the trucks. General MotorsGM’s decision will result in fewer electric pickups being built next year but the automaker declined to discuss the extent of a reduction. GM had announced, in 2022, that it would spend $4 billion to convert Orion Assembly to make the electric trucks.

Persons: Bolt, Ford, Joseph Yoon, GM Organizations: CNN —, Motors, Silverado, Hamtramck Assembly, GMC Hummer, GMC Sierra EV, GM, Orion Assembly, Chevrolet Bolt, United Auto Workers, Orion, Chevrolet Silverado EV, General Motors, UAW, Ford, ”, Edmunds.com Locations: Detroit, Michigan

DETROIT (AP) — General Motors will delay electric pickup truck production at a factory near Detroit due to slowing U.S. demand for electric vehicles, to better manage its capital investments, and to make some engineering changes. Political Cartoons View All 1211 ImagesGM already is building a Chevrolet Silverado work truck at its “Factory Zero” electric vehicle plant, which straddles the border between Detroit and the enclave of Hamtramck. August EV sales were up almost 60% from a year earlier, but in September, the year-over-year growth rate dropped to 56%, according to Motorintelligence.com. But that transition is a lot more difficult and takes more time.”Still, Fiorani predicted that EV sales growth won't recede much, but the rate of increase won't be as high as it was previously. ____This story has been corrected to show that the electric vehicle sales growth rate in September was 56%, not 51%.

Persons: Kevin Kelly, ”, Kelly, it's, Kelley, Tesla, Chevrolet Bolt, Sam Fiorani, Fiorani Organizations: DETROIT, —, Motors, Silverado, GMC Sierra, United Auto Workers, Orion, Chevrolet, Workers, GMC, EV, GM, Factory Zero, AutoForecast Solutions Locations: Detroit, Orion Township , Michigan, Michigan, Hamtramck, U.S, . U.S, That's

☆ AOC says she'll trade in her Tesla for a union-made EV. Her options are slim.
▼ + stars: | 2023-09-25 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

Rep. Alexandria Ocasio-Cortez wants to trade in her Tesla for a union-made electric vehicle. In an interview on CBS's Face the Nation on Sunday, AOC was asked why she bought a Tesla rather than a union-made electric vehicle. AOC only has 2 real choicesThat leaves AOC choosing between the Chevrolet Bolt EV and Bolt EUV, a hatchback and a small SUV, respectively. The Chevrolet Bolt EV electric hatchback. ChevroletI think the winner here is the Bolt EV, since it offers just a bit more range than the EUV.

Persons: Alexandria Ocasio, Cortez, Tesla, —, Elon Musk, Cadillac, it's, Ram, Bolt EUV, I'd, Bolt Organizations: Service, Democrat, Ford, General Motors, United Auto Workers, Ford's, Hummer EV, GMC, Volkswagen, Lucid Motors, Chrysler, Chevrolet Bolt, Chevrolet Locations: Alexandria, New York, Washington, DC, New York City, Mexico

☆ UAW strike could buy GM time to address nagging EV issues
▼ + stars: | 2023-09-17 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

The company delivered just 1,348 Lyriqs and 47 Hummers in the second quarter, far below expectations, in part because of issues with battery module assembly. A longer strike could help GM address and potentially resolve some of those ongoing issues in its EV and battery operations, according to Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions. "A production stoppage could allow GM to solve bottlenecks,” Fiorani said. Wedbush auto analyst Daniel Ives said the strike was "a potential nightmare situation" for GM given it comes exactly at a key period of ironing out EV issues. In addition, the UAW strike in the United States could affect the flow of critical auto parts to GM operations in Canada and Mexico, which would hamper EV production there, Rinna said.

Persons: Jennifer Granholm, Jonathan Ernst, GlobalData, Mary Barra, Rory Harvey, Hummer, Sam Fiorani, Fiorani, GM's Barra, Bill Rinna, Daniel Ives, Ives, Rinna, GM’s Ramos, Paul Lienert, Deepa Babington Organizations: U.S . Energy, Washington Auto, REUTERS, Rights, General Motors, Ford Motor, UAW, Ford, Chevrolet Silverado, GMC Sierra, GM, GMC, AutoForecast Solutions, EV, Chevrolet Blazer, Thomson Locations: Washington , U.S, United States, Canada, Mexico, Ingersoll, Detroit

☆ Here's a first look at GM's new all-electric Cadillac Escalade IQ, starting at $130,000
▼ + stars: | 2023-08-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

GM President Mark Reuss during the reveal of the all-electric 2025 Cadillac Escalade IQ on Aug. 9, 2023 in New York City. Michael Wayland / CNBCThe Escalade IQ is the first – and most important – traditional Cadillac model to be released as an EV. 'It's American luxury'The Escalade IQ features a much smoother, more aerodynamic exterior than the current Escalade, with overall styling more similar to Cadillac's current EVs than its gas- and diesel-powered siblings. Powerful, fast chargingThe Escalade IQ will feature up to 750 horsepower and 785 pound-feet of torque with a performance "Velocity Max" mode. The Escalade IQ features a host of standard safety and convenience features, including GM's Super Cruise hands-free highway driving system and an available 40-speaker KG audio system.

Persons: Cadillac Escalade, Mark Reuss, Michael Wayland, It's, Reuss, haven't, Michael Simcoe, Tyson Jominy, Escalade, Mandi Damman Organizations: Cadillac, Motors, Detroit, GM, EV, CNBC, GMC Hummer, Chevrolet Silverado, Cruise, Arlington Assembly, Chevrolet, GMC Locations: New York City, Detroit, Texas

☆ Electric Cadillac Escalade has 750 horsepower and can crab walk
▼ + stars: | 2023-08-09 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

CNN —The new all-electric Cadillac Escalade IQ shares virtually nothing with the boxy gas-powered Escalade, but it’s possibly the most important flag-bearer yet for the automaker’s transition to electric vehicles. So the new Escalade IQ has flashy light displays and electric motors able to produce a total of 750 horsepower. CadillacWhen it goes on sale next year, the Escalade IQ will be one of Cadillac’s most expensive models. Prices for the gas-powered Cadillac Escalade start at about $81,000, with the average one sold last year going for about $109,000 according to Edmunds.com. GM claims that the Cadillac Escalade IQ is the most aerodynamic large SUV the company has ever produced.

Persons: John Roth GM’s, Cadillac, ”, it’s, Mandi Damman Organizations: CNN, General Motors, GM, EV, Silverado EV, GMC, Hummer, Chevrolet Silverado, Insurance Institute for Highway Safety, Cadillac, GM’s Locations: Detroit, Hamtramck , Michigan

☆ 2025 Escalade IQ joins Cadillac’s growing all-electric family
▼ + stars: | 2023-08-09 | by ( Paul Lienert | ) www.reuters.com time to read: +2 min

The Escalade IQ borrows styling cues from the Celestiq, as well as its 55-inch panoramic display screen. Escalade IQ will overlap with and eventually replace the combustion-engine Escalade. The dimensions of the electric Escalade are close to those of the long-wheelbase Escalade ESV. The Escalade IQ is about three inches shorter, while the wheelbase is two inches longer. Cadillac has not provided a weight estimate for the Escalade IQ, but the current Escalade ESV weighs nearly three tons.

Persons: General Motors, We’ll, ” Cadillac, John Roth, Optiq, Roth, Today's Escalade, Paul Lienert, Bernadette Baum Organizations: General, Cadillac, GM, GMC, Thomson Locations: Detroit

☆ Electric Cadillac Escalade to test GM's EV strategy, cash machine
▼ + stars: | 2023-08-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

The Escalade IQ is the first – and most important – traditional Cadillac model to be released as an EV. The automaker plans to initially sell the new electric Escalade IQ alongside the current traditional models. A close-up of the illuminated front end of the electric Cadillac Escalade IQ, including a black crystal shield badge. CadillacA teaser video released by GM of the Escalade IQ appears to have more design elements similar to the automaker's Cadillac Lyriq and Cadillac Celestiq than the traditional Escalade. The first-generation Cadillac Escalade was produced from 1998 through 2000 by General Motors.

Persons: Escalade, Mary Barra, It's, Tyson Jominy, John Roth, Roth, Edmunds, Michael Simcoe, Steve Fecht, Rory Harvey, Wayne Cherry Organizations: Motors, GM, General Motors, Cadillac, CNBC, U.S, Auto, Benz, Ferrari, Lamborghini, Cadillac's, GM Tech Center, General Motors GM, GM North America, GMC Hummer, Chevrolet Silverado, Cruise, Arlington Assembly, Chevrolet, GMC, ICE Locations: New York City, Cadillac's U.S, U.S, Warren , Michigan, Detroit, Texas, Simcoe

☆ Fisker's new electric pickup is one of the coolest Cybertruck and F-150 Lightning rivals yet
▼ + stars: | 2023-08-04 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

US EV startup Fisker unveiled an electric pickup to take on the Tesla Cybertruck and Rivian R1T. The Fisker Alaska electric pickup truck. The Fisker Alaska electric pickup truck. The Fisker Alaska electric pickup truck. The Fisker Alaska electric pickup truck.

Persons: Fisker, Henrik Fisker, Fisker Fisker, There's, R1T, Ford Organizations: Tesla, Ford, GM, GMC Hummer EV, Toyota, Silverado EV, GMC Sierra EV Locations: Alaska, California, Toyota Tacoma

☆ Most cars still cost more to charge than to fill up with gas
▼ + stars: | 2023-08-01 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

While charging and fueling trucks cost the same, other cars and their electric counterparts differ. It's not yet cheaper to charge some electric cars than to fuel them with gas, a new study suggests. It's not yet cheaper to charge many electric cars than it would be to fuel their gas-powered counterparts up with gas, a new study indicates. Trucks cost about the same to fuel and charge, while entry and midlevel cars and SUVs cost more to charge at home and in public than they do to fuel at a gas station, the group found. Luxury-segment EVs may cost less to charge at home than their gas counterparts would cost to fuel.

Persons: Kelley, that's, Kia Forte, it's, Bolt, Kia, Kia EV6 Organizations: Anderson Economic, Trucks, Ford Trucks, Ford, Chevrolet Silverado, GMC, Chevrolet, Nissan Versa, Hyundai, Nissan, Mercedes, Benz, Lexus, Porsche Macan, Porsche, Volkswagen, Nissan Altima, Subaru

☆ A key test for EV sales and the adoption curve is coming
▼ + stars: | 2023-07-30 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

The company says it will reach 400,000 cumulative units of EV production by early 2024 and that its EV business will reach profitability by 2025. "They have dozens of EV models over the next two to three years. watch nowAmong analysts who believe the stock is due for a bigger drop, expected EV sales disappointment is among the factors. But GM's EV plans come as Ford announced it is slowing down its plans to expand EV production to a 600,000 annual rate. "This will be the first year U.S. EV sales reach 1 million," Downey said.

Persons: Scott Mlyn, Brian Downey, Autotrader, Ford, Dan Ives, It's, they'll, Morgan Stanley, Adam Jonas, Mary Barra, Adam Jones, Colin Langan, Garrett Nelson, Chad Lyons, Lyons, Katie Minter, Rebecca Cook, Reuters Paul Jacobson, Jacobson, Ives, Downey, Tesla, Barra, they're, they've, Cox, Goodcarbadcar.net . Ford Organizations: Silverado, New York Auto Show, CNBC, General Motors, Cox Automotive, Kia, Porsche, Hyundai, Chevrolet Silverado, Wedbush Securities, Investors, GM, United Auto Workers union, Wall Street, Deutsche Bank, GMC Hummer EV, Chevy Silverado, GMC Sierra EV, Chevy Blazer, GMC, Blazers, Jaguar, Audi, North American, Reuters, EV, Cox, Ford's, Ford, Goodcarbadcar.net, Volkswagen, BMW – Locations: Detroit, Detroit , Michigan, U.S

The Bolt does not align with GM's long-term EV technology strategy, but it is the Detroit automaker's best-selling and most affordable EV in North America, by far. Barra and GM officials did not say how much the new Bolt would cost or where it would be built. For GM, the Bolt has been the mainstay for its North American EV sales. In the first six months of this year, U.S. Bolt sales totaled 33,659 vehicles, outselling Ford's Mustang Mach-E, Hyundai's Ioniq 5 and other EVs from established automakers. Bolt sales rebounded this year after GM was forced to halt production of the car for nearly six months to fix problems linked to battery fires.

Persons: Rebecca CooK, Mary Barra, Barra, Sam Fiorani, EVs, Sandy Munro, Elon Musk, Fiorani, Bolt, Paul Lienert, Joseph White, Nick Zieminski Organizations: North American, REUTERS, General Motors, Chevrolet Silverado EV, Chevrolet, Detroit, GMC Hummer EV, GM, AutoForecast Solutions, Barra, Bolt, Munro & Associates, UAW, Thomson Locations: Detroit , Michigan, U.S, North America, United States, Ohio, Michigan, Orion, Detroit

☆ GM can't build or deliver new vehicles fast enough, exec says
▼ + stars: | 2023-07-17 | by ( Paul Lienert | ) www.reuters.com time to read: +2 min

[1/2] The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File PhotoCompanies General Motors Co FollowLANSING, Michigan, July 17 (Reuters) - General Motors is seeing strong demand for many of its U.S. vehicles, but can't deliver them to dealers fast enough, one of the company's top executives told Reuters on Monday. But the automaker faces outbound logistics challenges in the aftermath of COVID, he said, particularly in shipping vehicles to dealers, whether by truck or rail. "We would still like to improve our availability on the ground at dealers," Harvey said. We will see another step change in terms of their (sales) performance in the second half of the year."

Persons: Rebecca Cook, Rory Harvey, Harvey, I'm, Ultium, Paul Lienert, David Evans Organizations: General Motors, REUTERS, Reuters, GM, North America, GMC, EV, Cadillac, Hummer, P Global Mobility, Thomson Locations: Detroit , Michigan, U.S, LANSING , Michigan, Lansing , Michigan, Detroit

Rising inventories and price-cutting could represent only a short-term pause in EV market growth. If production of EVs continues to outpace demand, automakers will have to choose between slashing prices and profit margins, or slowing assembly lines. More than 90 new EV models are expected to hit the U.S. market through 2026, according to AutoForecast Solutions. In a statement, Volkswagen's U.S. sales arm said "we have seen some softening in EV sales in the U.S. recently" as supply chain bottlenecks have eased, allowing for increased production. Wakefield said it is too soon to declare that U.S. EV demand has hit a plateau.

Persons: Tesla, EVs, Cox, Ford, Vitaly Golomb, Biden, Price, Mark Wakefield, Wakefield, Joe White, Nick Zieminski Organizations: DETROIT, EV, North, AutoForecast Solutions, Dealers, General Motors, Ford, Hyundai, Toyota, Cox Automotive, U.S, Cox, GM, Cadillac, GMC, Volkswagen, U.S ., VW, Industry, EVs, Thomson Locations: U.S, North America, United States, Texas, Washington, Tennessee

☆ EV sales: Hyundai overtakes GM, but Tesla's U.S. dominance continues
▼ + stars: | 2023-07-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Meanwhile, Hyundai — including the Kia brand that's owned by the same parent company — increased its EV sales by roughly 11% during that time to 38,457 units. GM, which was second in EV sales through the first quarter, more than quadrupled electric car and truck sales to 36,322 units through June compared with a year earlier. And Volkswagen more than doubled EV sales to 26,538 units sold through June. Scott Mlyn | CNBCGM's EV sales thus far have been disappointing, especially when it comes to new models with the automaker's "Ultium" battery technologies. Correction: GM was second in EV sales through the first quarter of this year.

Persons: Brandon Bell, Tesla, Andrew Frick, hasn't, Elon Musk, Musk, disappoints Hyundai's, Randy Parker, we're, Parker, Scott Mlyn, Cadillac Lyriq, Mary Barra, Barra, It's, —, Phil LeBeau, Lora Kolodny Organizations: Getty, Hyundai Motor, General Motors, Motor Intelligence, Hyundai, Kia, GM, Ford Motor, EV, Ford, U.S, Automotive, Biden, Hyundai Motor America, New York Auto Show, CNBC, GMC Hummer, Cadillac, Chevrolet, Aspen Ideas, Chevrolet Silverado, Detroit Locations: Austin , Texas, U.S, Mexican, Texas, North America, South Korea

☆ 5 things everyone is getting wrong about electric cars
▼ + stars: | 2023-06-16 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +5 min

As electric vehicles enter the market, misconceptions abound regarding the cars and how automakers can remain profitable while ditching the internal combustion engine, says Mark Reuss, General Motors' president. Companies need hybrids to bridge the gap to full EVsSome automakers have been making the transition to electric lineups with a pit stop: hybrids. Toyota, for example, has invested in hybrids in addition to electric products and has faced skepticism from the industry as a result. "We're not going to dilute our investment with hybrids," Reuss said, adding that the automaker expects its EV business to be profitable by 2025. The charging experience and the driving experience are one and the sameReuss said it can be frustrating to see drivers rate vehicles based on the charging experience alone.

Persons: Motors, Mark Reuss, General Motors, Reuss, Tesla, We're, It's, " Reuss, that's Organizations: General, GM, Toyota, Chevrolet, GM's Tech, Ford, GM Energy, GMC Hummer, EV

☆ Canada, Quebec to provide about C$300 mln for GM-POSCO battery materials facility
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

[1/3] The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File PhotoOTTAWA, May 29 (Reuters) - Canada's federal government and the Quebec province will each provide about C$150 million ($112 million) for a General Motors-POSCO Chemical (GM.N)(005490.KS) battery materials facility that is expected create about 200 jobs in the country, the Canadian industry ministry said on Monday. The U.S. carmaker and South Korea's POSCO outlined their plan last year to build the facility in Becancour, Quebec, to produce cathode active material (CAM) for electric vehicle (EV) batteries. CAM includes components like processed nickel, lithium and other materials that make up about 40% of the cost of a battery, the industry ministry said in a statement. "This investment in GM-POSCO's new facility in Becancour will help further position Quebec as a key hub in Canada's growing EV supply chain," Industry Minister Francois-Philippe Champagne said.

☆ Analysis: GM's 2025 EV output could be crimped by battery bottleneck
▼ + stars: | 2023-05-18 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

"We have not changed our targets," GM spokesman Jim Cain said. Those targets include cumulative EV production of 400,000 from early 2022 through mid-2024, a revised goal that CEO Mary Barra reiterated earlier this year. "We believe GM’s targets are hittable despite hurdles to get there," Wedbush auto analyst Dan Ives said. GM has not issued specific North American EV production targets for 2024 and 2025. GM’s North American EV production targets beyond 2025 “will continue to push the limits” of its battery plants, according to AFS, including a recently announced fourth factory with new partner Samsung SDI (006400.KS) that isn’t expected to open until 2026.

☆ Car Dealerships Are Struggling to Get EVs on Their Lots
▼ + stars: | 2023-05-10 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

But less than half of car dealerships had any EVs on their lots last year, according to the Sierra Club. Electric car adoption in the US is making headway, but still creeping up. Two-thirds of car dealerships in the US did not have a single new or used EV on their lots, according to a survey by the environmental nonprofit Sierra Club. Mercedes-Benz had the best EV availability among car brands, per Sierra Club — 90% of its dealerships reported having an EV available. But the shortage of EVs on dealership lots is also the result of a mix of supply chain constraints and automaker allocation of EVs to dealerships.

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