GM Saves Big Bucks on Cadillac Lyriq EV Assembly [Yahoo! Finance]
General Motors Company (GM)
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Source: Yahoo! Finance
After production difficulties in 2023, GM said it is sticking with plans to build between 200,000 and 300,000 EVs in North America in 2024, all equipped with Ultium battery packs. Other new models GM said will build its EV production this year are the GMC Sierra Denali EV and Cadillac Escalade iQ, Celestiq, and Optiq. Meanwhile, GM is accepting outside investments in the troubled Cruise robotaxi service. Battery module production is up 300% in the last six months at General Motors, which has cut the cost of building a Cadillac Lyriq by more than $12,000 in the last year, CEO Mary Barra and CFO Paul Jacobson said in a call with Wall Street analysts about its first-quarter earnings report Tuesday. GM said it is on track to reach “positive variable profit” on its Ultium EVs in North America later this year, and so it is sticking with plans to build between 200,000 and 300,000 EVs in North America in 2024. That could spell more trouble for Tesla, which since late last year fell t
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- 4/25/24 - Form PX14A6G
- 4/24/24 - Form ARS
- GM's page on the SEC website