General Motors has effectively maneuvered the electric vehicle landscape by standardizing its battery strategy, utilizing in-house production and pursuing chemistry diversification. After facing challenges in 2023, GM has ramped up its battery production while reducing costs, leading to improved profitability. The upcoming Chevrolet Silverado EV and updated Bolt EUV will feature cheaper lithium-iron phosphate (LFP) batteries, allowing for significant price reductions—around $6,000—despite a slight decline in range. This approach not only enhances GM's competitiveness but could redefine pricing in the electric truck market.
Unlike most other so-called "traditional" automakers who are trying to go electric, General Motors seems to have figured out the secret sauce: whoever controls the batteries controls the future.
GM's strategy has been to use the same battery cells and modules for every electric vehicle it makes and craft them all in-house... leading to a rough 2023 in particular, but the General has since sorted out many of those issues.
Among the fruits of that effort will be a lithium-iron phosphate (LFP) battery... GM will use LFP batteries in a new version of the Chevrolet Silverado EV truck.
The Silverado EV with LFP batteries should offer 350 miles of range, down from the other variants' 492 miles of range. But it will be $6,000 cheaper.
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