General Motors (GM), posted solid first quarter results on Tuesday morning, maintaining its strong run of quarterly reports as it prepares for a significant year of electric vehicle launches.
View GM’s 2023 First-Quarter Results and Raises Full-Year Guidance
Only two Hummer EV pickup trucks and 968 Cadillac LYRIQ EVs were supplied by GM; the majority of the deliveries were from the Chevrolet Bolt EV and EUV.
In an update to its EV rollout strategy for 2023, General Motors stated that deliveries of the Silverado EV were scheduled to start in late Q2 to roughly 340 fleet customers, with manufacturing ramping up in Q2. Additionally, GM stated that the Chevy Equinox EV and Chevy Blazer EV launches were scheduled for this fall and summer, respectively. Prior to this, GM stated that the Equinox EV will cost about $30,000.
GM announced today that it and partner Samsung SDI planned to invest more than $3 billion in a battery plant, which would be GM’s fourth plant in the U.S. “The cells we will build together will help us scale our EV capacity in North America well beyond 1 million units annually,” GM CEO Mary Barra said in a statement.
