By mid-2024, General Motors plans to have several new electric vehicle nameplates in production, from the Chevrolet Equinox that was designed with affordability in mind to the Cadillac Escalade IQ costing four times as much.
That's also when the automaker expects to have built 400,000 EVs, on the way to reaching capacity for 1 million a year starting in 2025.
GM will get some help reaching that goal when its second Ultium Cells battery plant with joint- venture partner LG Energy Solution opens in Tennessee this year, joining the one already operating in Ohio. With more battery capacity and more EV nameplates on the way, GM is working to resolve issues that have constrained its ability to scale production.