According to foreign media Insideevs,GM will focus on making cheap electric cars as part of its strategic move beyond Tesla.
General Motors CEO Mary Barra said in an interview with Yahoo Finance:GM wants to build cheaper electric carsreplacing Tesla as the world’s largest electric car maker.
“GM is going all out, and in five years we’ll be selling more electric cars in the U.S. than any other car company, including Tesla,” said Mary Barra.
Mary Barra said in an interview that in addition to launching high-end models, GM has alsoWill launch electric vehicles under $30,000 (about 200,000 yuan)through the high-end + cheap strategy, to further gain a larger market share.
As a leader in the era of fuel vehicles, GM has also made a lot of efforts in electrification transformation, and there is still a long way to go to continue to maintain its leading position.
1. Will launch new cars priced below $30,000 to cooperate with Honda to reduce costs
At the beginning of last month, General Motors and Honda jointly issued an announcement saying,The two parties will cooperate to develop a series of low-cost electric vehicles based on a new joint platformthe partnership will leverage the strengths of both companies in technology, design and supply chain.
The EVs jointly produced by GM and Honda will include popular segments such as the compact electric crossover and are expected to go on sale in 2027.
In addition, in order to reduce the cost to reduce the burden on consumers,The two car companies will cooperate on electric vehicle battery technology in the futureto further reduce electrification costs, improve EV performance and drive vehicle sustainability.
In addition, the two companies will work on standardizing equipment and processes to achieve high-quality, low-cost vehicles through mass production.
Looking at GM’s upcoming models, the 2024 Chevrolet EV and another unannounced EV will start at less than $30,000.
▲ Chevrolet Explorer EV
Currently,GM’s cheapest electric car is the Chevrolet Bolt EVthe starting price is 31,500 US dollars (about 210,000 yuan); while its rival Tesla’s entry-level electric car Model 3 is priced at 46,990 US dollars (about 314,000 yuan), and this car Prices are also rising.
Among the electric vehicles that General Motors has recently launched or will launch this year, the Chevrolet Silverado electric pickup is the cheapest, priced at $39,900 (about 266,000 yuan). Higher-end models such as the Cadillac Lyriq and GMC Hummer electric vehicles are positioned in the luxury market, starting at $58,800 (about 390,000 yuan) and $79,900 (about 530,000 yuan), respectively.
▲ Cadillac Lyriq
2. Previously announced to invest 7 billion US dollars in electrification and cooperate with raw material companies
In January this year, General Motors issued an investment announcement with a total amount of 7 billion US dollars (about 44.27 billion yuan).
GM said that by 2024, it will invest more than $7 billion (about 44.27 billion yuan) in four Michigan manufacturing bases to increase production of electric pickups.
According to an investment announcement issued by GM, GM will invest $2.6 billion (about 16.45 billion yuan) through its Michigan-based LG New Energy joint venture to build a new battery factory.
▲ Universal battery factory
It is reported that,The new battery plant covers an area of about 260,000 square meters and will start production by the end of 2024. This is also GM’s third battery plant in the United States. The other two, a battery plant in Lordstown, Ohio, are expected to go offline later this year, and another in Tennessee is due to go offline in 2023. Foreign media predict that GM is likely to set up a new battery factory.
In order to speed up the transformation of the electric vehicle business, GM has actually cooperated with a number of raw material companies.
In December, GM formed a joint venture partnership with German company Vacuumschmelze (VAC) to build a plant in the United States to make permanent magnets for electric motors for GM’s future electric vehicles.
GM also has a joint venture partnership with South Korean battery materials company POSCO Chemical, with plans to build a plant in North America to process battery materials for GM’s Ultium electric vehicle platform.
It is understood that the joint venture will produce “Cathode Active Material” (CAM), a key battery material. According to GM, CAM accounts for about 40 percent of its battery costs.
In October 2021, General Motors announced a strategic supplier agreement with North Carolina-based semiconductor company Wolfspeed to develop and supply silicon carbide (SiC) power solutions for GM’s future electric vehicles.
Conclusion: GM is struggling to transition to electrification
In 2021, Tesla’s share of the global electric vehicle market will be close to 14%, whileGM’s market share is 7.6%.
GM has accelerated its electrification transformation by investing and cooperating in the field of electric vehicles, and established the goal of “surpassing Tesla”. It can be seen that this traditional car company is anxious in the transition to electrification.
But from the current point of view, the difficulties in front of GM are still arduous, and Tesla will not stagnate during this period. Tesla CEO Musk had previously stated that he would launch a $25,000 (about 167,000 yuan) GM’s low-price strategy will also be further challenged after the launch of Tesla’s low-cost models.
Whether it can surpass Tesla or not, it can narrow the gap with Tesla through electrification and take a place in the wave of electrification.
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