06

October, 2021

GM Investors are betting on the company’s…Electric Vehicle potential?

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GM Investors are betting on the company's...Electric Vehicle potential?

You read that correctly.
 
In fact, one investment firm identified GM as a front-runner in the evolving automotive landscape that is increasingly electric, thanks in part to the scaling capacity traditional OEMs (original equipment manufacturers) hold vs. startups in BEV (battery electric vehicles).
 
Consumer demand for electric vehicles is undeniably rising: mentions have increased +128% YoY, and lead all Auto trends tracked.
GM aims to launch 30 new EV models by 2025. For now, the company has 3 main active electric vehicle lines: Chevy Bolt EUB, Cadillac LYRIQ, and the GMC HUMMER EV.
 
How do these brands stack up in the EV world? Not great…yet.
 
First: The Chevy Bolt is under fire, quite literally and figuratively. After multiple rounds of recalls due to potential battery defects, more than 141,000 electric vehicles over 6 model years were impacted…translation: every Bolt built since sales began in 2016.

Cars were catching fire.

Chevy bolt fire

You can see the negative impact of this defect and corresponding recalls on consumer Sentiment for the Chevy Bolt brand…Ouch.

Second: Tesla has a serious leg up on consumer buzz and market share. Consumers are REALLY excited about the Cybertruck concept.

Looking ahead: GM is investing heavily in new electric vehicle battery technology. The company’s improved battery pack, Ultium, differs from the batteries used in its Chevy Bolt vehicles, mostly due to the addition of aluminum, and reduction of cobalt and wiring. GM expects these “chemistry” updates to drive down cost and increase production scale.
 
We’ll be watching closely to see if GM can accomplish lofty Electric Vehicle expansion goals in the future, and will begin tracking announcements from the company’s Investor Event hosted today (Oct. 6).

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