General Motors has said it will have the capacity to build 1 million electric vehicles in North America by 2025, but a slow ramp-up of its three U.S. battery plants could limit actual EV production to less than 600,000 at mid-decade, according to a forecast and analysis prepared for Reuters.Building more
General Motors has said it will have the capacity to build 1 million electric vehicles in North America by 2025, but a slow ramp-up of its three U.S. battery plants could limit actual EV production to less than 600,000 at mid-decade, according to a forecast and analysis prepared for Reuters.
"We believe GM’s targets are hittable despite hurdles to get there," Wedbush auto analyst Dan Ives said.GM’s Ultium Cells joint venture with Korea’s LG Energy Solution has opened its first plant in Warren, Ohio, with a second plant in Spring Hill, Tennessee, slated to begin production in early 2024 and a third in Lansing, Michigan, to open in early 2025.
But with the staggered startup schedules and slow ramp, AFS forecasts the three battery plants will be able to produce just 58 GWh worth of cells, or enough to supply about 550,000 vehicles. GM’s global battery materials supply chain is extensive, encompassing investments, partnerships and offtake agreements with more than 20 companies, including such heavy hitters as Glencore, Livent, Posco Chemical, LG Chem and Lithium Americas.
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