Repairer Driven News
« Back « PREV Article  |  NEXT Article »

GM announces it will stop using ‘Ultium’ name for EV batteries after marketing for years

By on
Announcements
Share This:

General Motors announced it will stop using the name “Ultium” for its electric vehicle (EV) batteries and technology during its investor day event Tuesday, according to multiple media sources. 

The company plans to continue using the batteries and technology for EVs, CNBC says. It reports the company is only separating from use of the name which it spent years promoting. 

This included millions of dollars marketing and advertising Ultium in Super Bowl ads in 2021 and 2022, CNBC says. 

“GM has been rethinking its EV battery strategy amid changing market conditions and an influx of new, outside executives, including Tesla veterans JP Clausen, who now leads GM manufacturing, and Kurt Kelty, GM’s vice president of battery,” according to CNBC. 

CNBC says GM has lowered its EV target of producing 250,000 EVs this year to 200,000. A previous target was 300,000 units. 

However, the automaker reports EV sales are growing, including an increase of roughly 60% over last year’s third quarter, according to CNBC. Yet, EV sales make up only 4.9% of the company’s third-quarter sales. 

According to the Alliance for Automotive Innovation. EVs represented 9.96% of the auto market in the U.S. during Q2.  There are 117 EV models for sale, with light truck sales making up 84% of the EV market. The report says EV says grew by 2.92%.

GM also announced plans for a new battery-cell development center at its Global Technical Center in Warren, Michigan during the event, according to Car and Driver

Plans are to begin manufacturing new battery cells at the center in early 2027, the article says. It says GM officials announced the center could reduce the development timeframe of launching new battery technology by up to a year. 

GM CEO Mary Barra said she expects the company’s EV portfolio to reach a positive variable profit this quarter, Car and Driver said. 

Crain’s Detriot Business also recently reported that GM is investing in a hydrogen fuel cell manufacturing plant in Detriot spanning over 290,000 square feet. GM has not officially announced the plant.

IMAGES

Photo courtesy of RiverNorthPhotography/iStock

Share This: