But will GM follow Tesla’s switch to 4680 cylindrical batteries?
Cell joint venture plants with LG Energy Solution open in Warren, Ohio, and Spring Hill, Tennessee, by midyear, with the Lansing, Michigan, JV plant opening by late 2024.GM may switch to 4680 cell production for that plant. That has caused a delay in the plant, the South Korean outlet reports, citing unnamed sources, because the switch may not bring erstwhile cell partner LG Energy Solution along with it.
“I’m not going to comment on speculation,” Barra says, in response to an analyst’s question about the switch in battery form factor. GM’s Ultium team has been “looking at form factors all along.”A company spokesman says GM “didn’t suggest we’d go it alone . We did suggest there’s likely to be more cell plants beyond number-four in the future.”
Overall, GM reports a record $14.5 billion in adjusted earnings before income tax from $156.7 billion in gross revenues for 2022. Last year’s EBIT is $179 million higher than 2021 net income as the automaker continues to rack up higher earnings on fewer unit sales thanks to skyrocketing new vehicle prices and a better mix of luxury and well-equipped premium models.
GM’s US market share reached 16.8% at the end of 2022, up 3.8 points over Q4 of 2021. GM’s chip supply chain problems knocked the automaker down to second place in sales for 2021, behind Toyota Motors North America, but it was back on top again last year.
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