{"id":11006,"date":"2023-05-19T13:47:49","date_gmt":"2023-05-19T17:47:49","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/analysis-gms-2025-ev-output-could-be-crimped-by-battery-bottleneck\/"},"modified":"2023-05-19T13:47:50","modified_gmt":"2023-05-19T17:47:50","slug":"analysis-gms-2025-ev-output-could-be-crimped-by-battery-bottleneck","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=11006","title":{"rendered":"Analysis-GM’s 2025 EV output could be crimped by battery bottleneck"},"content":{"rendered":"
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\n<\/u>2\/2<\/span><\/p>\n

\u00a9 Reuters. FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Picture taken March 16, 2021. REUTERS\/Rebecca Cook\/<\/span>
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By Paul Lienert<\/p>\n

(Reuters) – General Motors (NYSE:) 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.<\/p>\n

Building more than half a million EVs in North America in 2025 \u201cwill be difficult, based on (GM\u2019s) planned battery production\u201d at plants in Ohio, Tennessee and Michigan, according to Sam Fiorani, head of global vehicle forecasting at Pennsylvania-based AutoForecast Solutions (AFS), a widely consulted industry research and analytics firm.<\/p>\n

“We have not changed our targets,” GM spokesman Jim Cain said. Those targets include cumulative EV production of 400,000 from early 2022 through mid-2024, a revised goal that CEO Mary Barra reiterated earlier this year.<\/p>\n

“We believe GM\u2019s targets are hittable despite hurdles to get there,” Wedbush auto analyst Dan Ives said.<\/p>\n

GM has not issued specific North American EV production targets for 2024 and 2025.<\/p>\n

GM\u2019s Ultium Cells joint venture with Korea\u2019s 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.<\/p>\n

Virtually all of GM’s newest EVs in North America are designed to use Ultium battery packs developed jointly with LGES and produced at one of the three U.S. plants.<\/p>\n

Those three facilities will have a combined annual capacity of at least 135 gigawatt-hours (GWh), according to GM \u2014 enough to supply at least 1.35 million EVs a year.<\/p>\n

But with the staggered startup schedules and slow ramp, AFS forecasts the three battery\u00a0plants will be able to produce just 58 GWh worth of cells, or enough to supply about 550,000 vehicles.<\/p>\n

\u201cLimitations on that battery capacity make higher vehicle production targets difficult to reach,\u201d Fiorani said, adding that GM\u2019s projected EV volumes could also be constricted by the company\u2019s ability to secure sufficient raw materials for batteries.<\/p>\n

In July 2022,\u00a0GM said it had\u00a0lined up enough\u00a0battery raw materials, including lithium, nickel, cobalt and cathode active material, to reach its goal of producing 1 million EVs annually in North America by 2025.<\/p>\n

GM\u2019s global\u00a0battery materials supply chain is extensive, encompassing investments, partnerships and offtake agreements with more than 20 companies, including such heavy hitters as Glencore (OTC:), Livent (NYSE:), Posco Chemical, LG Chem and Lithium Americas (NYSE:).<\/p>\n

Some of those deals won\u2019t result in a flow of materials until after 2025, but even then supplies could run into snags as global automakers accelerate their investments in and production plans for future EVs in major markets.<\/p>\n

GM\u2019s North American EV production targets beyond 2025 \u201cwill continue to push the limits\u201d of its battery plants, according to AFS, including a recently announced\u00a0fourth factory\u00a0with new partner Samsung (KS:) SDI that isn\u2019t expected to open until 2026.<\/p>\n

Despite GM\u2019s ambitious projections for EV production in the latter half of the decade, \u201caccessing the components and materials necessary for that growth will become increasingly difficult,\u201d according to the forecast house.<\/p>\n

AFS now expects GM to build around 76,000 EVs this year in North America and 328,000 in 2024.<\/p>\n

GM’s Chevrolet brand plans to launch several new electric vehicles this year, including Equinox and Blazer EVs and a Silverado EV pickup. Its Bolt EV and Bolt EUV will end production later this year.<\/p>\n

GM still has not fully ramped up production of the Cadillac Lyriq and GMC Hummer EV. It delivered just 968 Lyriqs and only two Hummer pickups in the first quarter. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

2\/2 \u00a9 Reuters. FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Picture taken March 16, 2021. REUTERS\/Rebecca Cook\/ 2\/2 By Paul Lienert (Reuters) – General Motors (NYSE:) has said it will have the capacity to build 1 million electric vehicles […]<\/p>\n","protected":false},"author":1,"featured_media":11007,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-11006","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nAnalysis-GM's 2025 EV output could be crimped by battery bottleneck | iFintechWorld<\/title>\n<meta name=\"description\" content=\"2\/2 \u00a9 Reuters. 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