According to the company's Q3 2023 earnings report and presentation, the long-awaited ramp-up of the Ultium-based models is finally accelerating.
When it comes to electric vehicles, General Motors is experiencing very challenging times, as things are not progressing as smoothly as they could. However, the numbers might finally noticeably improve this quarter. According to the company's Q3 2023 earnings report and presentation, the long-awaited ramp up of the Ultium-based models is finally accelerating. Let's recall that GM delivered a disappointing 15,652 all-electric vehicles in Q2 and 20,092 in Q3 in the U.S.
Another interesting detail is that the production volume is expected to increase in Q4 and subsequent quarters, while the share of Ultium EVs will increase to roughly two-thirds. We can estimate that two-thirds out of 32,000 would be over 21,000, but if the total production volume is higher, then maybe we are talking about 25,000 units.
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