General Motors is planning to ramp up EV production in a move that draws comparisons to Ford’s decision to nearly double production of its F-150 Lightning.
However, according to a report from Reuters, GM’s ambitions are more than just double, with GM Chief Executive Mary Barra telling investors last week that it plans to deliver 400,000 EVs in North America by the end of 2023.
GM’s EV ambitions start this year, with 2022 production predictions of electric trucks and SUVs swelling from 7,000 units to 46,000 — a dramatic turnaround from Q4 2021, where GM sold just 26 battery-powered vehicles.
The handful of vehicles delivered in the last quarter was in no part helped by the halt in production of the Chevrolet Bolt. It remains to be seen whether the Bolt will return to the market after a series of recalls for fire risks, but if production were to restart, it would further bolster GM’s EV sales.
GM is reported to have told suppliers that it plans to up production of the GMC Hummer EV and Chevrolet Silverado EV from 3,800 units to 21,000. Meanwhile, the Cadillac Lyriq is on track for a significant bump in numbers, too, with suppliers being told to gear up for 25,000 units, from the planned 3,200 in 2022.
The revised production numbers come as a flurry of home-based competition is in the offing. In addition to Tesla’s commanding position in the EV space, EV startups Rivian and Lucid have started deliveries.
Meanwhile, Ford will shortly start delivering the F-150 Lightning, with plans for the Blue Oval to expand EV production capacity to 600,000 by 2023. GM has already announced plans to catch Tesla in EV sales by 2025, and ramping up production this year might be the best way to start.