GM starts construction on the cornerstone of its EV strategy

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Thread: GM starts construction on the cornerstone of its EV strategy

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    GM starts construction on the cornerstone of its EV strategy

    GM starts construction on the cornerstone of its EV strategy
    https://techcrunch.com/2020/07/29/gm...pTusFYmr3v_0Pb

    July 29, 2020
    Kirsten Korosec

    Steel construction has begun on the nearly 3-million-square-foot factory that will mass produce Ultium battery cells and packs, the cornerstone of General Motors’ strategy to bring 20 electric vehicles to market by 2023.

    The Ultium Cells LLC battery cell manufacturing facility in Lordstown, Ohio is part of a joint venture between GM and LG Chem that was announced in December. At the time, the two companies committed to invest up $2.3 billion into the new joint venture as well as establish a battery cell assembly plant on a greenfield manufacturing site in the Lordstown area of Northeast Ohio that will create more than 1,100 new jobs. The factory will be able produce 30 gigawatts hours of capacity annually. To put that into perspective, Tesla’s factory in Sparks, Nevada, which is part of a partnership with Panasonic, has a 35 GW hour capacity.

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    Re: GM starts construction on the cornerstone of its EV strategy

    Anyone know how to convert the 30 gigawatts into how many battery vehicles GM can theoretically build (making a few assumptions)? That will give us insight as to how many electric vehicles GM hopes to build over the next few years (or at least the maximum).

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    Re: GM starts construction on the cornerstone of its EV strategy

    Quote Originally Posted by BlackGTP View Post
    Anyone know how to convert the 30 gigawatts into how many battery vehicles GM can theoretically build (making a few assumptions)? That will give us insight as to how many electric vehicles GM hopes to build over the next few years (or at least the maximum).
    Billions and billions.

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    Re: GM starts construction on the cornerstone of its EV strategy

    This is going to help bring electrics to the mainstream

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    Re: GM starts construction on the cornerstone of its EV strategy

    Early on in the video Neanderthal posted he makes the point "what does it matter, as long as you get lucky". I guess that could be applied here as well .

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    Re: GM starts construction on the cornerstone of its EV strategy

    Quote Originally Posted by mbukukanyau View Post
    This is going to help bring electrics to the mainstream
    Electrics are already mainstream. This is an attempt at GM getting back into a game they're late for...
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    I don't see how GM is late to EVs when battery technology is evolving so rapidly,
    if GM had moved earlier, it may have been trapped using less advanced battery tech.

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    Re: GM starts construction on the cornerstone of its EV strategy

    Quote Originally Posted by 1958carnut View Post
    Early on in the video Neanderthal posted he makes the point "what does it matter, as long as you get lucky". I guess that could be applied here as well .
    Indeed, carnut. You can't go wrong with Carl Sagan.

    Quote Originally Posted by jpd80 View Post
    I don't see how GM is late to EVs when battery technology is evolving so rapidly,
    if GM had moved earlier, it may have been trapped using less advanced battery tech.

    Sagan can tell you all you need to know about evolution.
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    LOL Sagan had been so busy he didn't realise the world was round, sounds like GM.

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    Re: GM starts construction on the cornerstone of its EV strategy

    Quote Originally Posted by jpd80 View Post
    I don't see how GM is late to EVs when battery technology is evolving so rapidly,
    if GM had moved earlier, it may have been trapped using less advanced battery tech.
    Yes, GM would have been trapped because they refuse to move fluidly in any new technology. IE, Voltec.

    There is a reason you really don't look at Teslas as a model year but by content because they change things when they are ready versus waiting for an MCE.
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    Re: GM starts construction on the cornerstone of its EV strategy

    Quote Originally Posted by bballr4567 View Post
    Yes, GM would have been trapped because they refuse to move fluidly in any new technology. IE, Voltec.

    There is a reason you really don't look at Teslas as a model year but by content because they change things when they are ready versus waiting for an MCE.
    And could that also be why Tesla isn't strong in the field of profits?

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    Re: GM starts construction on the cornerstone of its EV strategy

    Quote Originally Posted by BlackGTP View Post
    And could that also be why Tesla isn't strong in the field of profits?
    Have you been checking them lately?

    Tesla, amid uncertainty regarding how the peak of the pandemic would impact the automaker's bottom line, posted a surprise adjusted net income of $104 million in the second quarter, its fourth straight quarter of profitability. Revenue of $5.2 billion this past quarter beat the first quarter of the year by 1 percent, but the result is down 4 percent compared to the previous year.
    It's not like they're moving a ton of cars yet either but you can't deny they've been investing a ton of money into their product and delivery systems.
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    Look closer at Tesla's profits and you'll see that without the sale of regulatory credits, Tesla would have recorded losses.

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    Re: GM starts construction on the cornerstone of its EV strategy

    Quote Originally Posted by jpd80 View Post
    Look closer at Tesla's profits and you'll see that without the sale of regulatory credits, Tesla would have recorded losses.
    Aren't we the ones who argue a profit is a profit for GM though?

    GM lost 810 million in the 2Q and Tesla made 104 million and it's still not good.
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    Re: GM starts construction on the cornerstone of its EV strategy

    Quote Originally Posted by bballr4567 View Post
    Have you been checking them lately?

    It's not like they're moving a ton of cars yet either but you can't deny they've been investing a ton of money into their product and delivery systems.
    Yes, they have profits, but not much. As much as they want to show the traditional auto makes that they have a better "Silicon Valley" way of doing things, Tesla might be well served to take a look at how the traditional automakers run things, some of their processes make sense. And I fully support Tesla and hope they make it.

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