Although the automotive world is divided on developing EV-only chassis, GM says its Ultium platform will allow for the very rapid development of further EVs. According to Mary Barra, GM CEO, what the company learned developing the Hummer and the Lyriq will allow it to develop more cars faster.

"We will definitely bring EVs to market faster than what the plan was a year ago. We learned a lot in the last year, and the speed at which we're developing the Lyriq and the Hummer are evidence of that," said Barra per Muscle Cars and Trucks.

The Ultium platform is an electric-only platform that is scalable. Although developing a whole new chassis is expensive and slow, it also has advantages. The chassis, once developed, is scalable, which means that it can (essentially) be any size GM wants it to be. So the same basic components can make a Hummer, a Lyriq, or something much smaller like a hatchback. 

It's the same strategy that VW is taking and, although it's a bit of a gamble, VW figures that the economies of scale it can take advantage of with the platform mean that the price of its EVs will come down significantly. The Germans have also been very busy revealing EVs for pretty much every segment, all based on one chassis.

GM looks like it wants to do the same thing.

"Ultium is going to allow us to have vehicles in high volume segments," said Barra. "We will have entries across our brands and across our segments."

The strategy makes sense for a company whose might is in its size. GM may have to put some work into protecting itself from being accused of badge engineering.