GM Expects to Build 300,000 EVs in 2024, Give or Take

• Depending on market conditions, GM says it expects to build 200,000-300,000 electric vehicles this year.

• The automaker’s portfolio of EVs for 2024 includes the Chevrolet Blazer EV, Chevy Silverado EV RST and GMC Sierra EV, Cadillac Escalade IQ and Celestiq, and he Chevy Equinox EV.

• GM also reiterated its commitment to developing autonomous vehicle tech through its Cruise brand, though it’s reducing expenses this year by $1 billion.
  

General Motors expects to build 200,000-300,000 electric vehicles in 2024 but is “prepared to meet customer demand as market conditions evolve” for both EVs and internal combustion engine vehicles this year.

While neither CEO Mary Barra nor Chief Financial Officer Paul Jacobson repeated during the company’s 2023 earnings call with Wall Street analysts Tuesday the longstanding goal to reach a 1-million EV annual rate by next year, a spokesman via email confirmed the automaker still expects to reach that milestone by the end of 2025.

Barra came under fire late last year for GM’s big investment in EVs—even raising speculation she might have to step down as CEO—but she said the automaker “remains committed” to becoming all-EV by 2035. While consumers wait for the nation’s EV recharging infrastructure to be built up, GM will add plug-in hybrid versions of its ICE vehicles in the coming years.

“We know the targeted segments we’re going to apply (PHEVs) to,” Barra said, but that will come later, she said, as EV ramp-up remains GM’s focus this year.

Chevrolet Blazer EV production launched in the fourth quarter is currently ramping up and the Chevy Silverado EV RST, GMC Sierra EV, Cadillac Escalade IQ, and Cadillac Celestiq are scheduled to launch in 2024. The Chevy Equinox EV (photo at top) begins production, too, with a starting sticker price of $34,995 (plus delivery), though the launch edition is priced at $48,995.

In the first half of this year, 15,000 Tesla Superchargers will open to GM customers. A collaboration with Pilot Company and EVgo will add an expected 3000 public DC fast chargers by the end of the year.

Touting its combined ICE and EV assembly plants in Ramos Arizpe, Mexico, and Spring Hill, Tennessee, and its Factory Zero all-EV truck plant with separate lines, GM said it has the flexibility to change with the sales ups and downs of either type of powerplant.

New and updated ICE models this year include the upcoming Buick Enclave and the updated Chevrolet Traverse, with its new Z71 off-road trim level and optional Super Cruise driver assistance technology.