General Motors reported noticeable progress regarding its Ultium EV platform on Tuesday, as production increases, battery costs decrease and profitability improves. The company's long-promised, much delayed EV assault may finally begin en masse. According to GM, battery module production—once a bottleneck—has increased by 300% over the last six months. The growth is accompanied by 'very good' quality results, according to the report.
The second Ultium Cells battery cell factory was opened earlier this year in Tennessee and is ramping production 'even faster by applying lessons learned in Ohio.' By combining higher production scale and lower battery costs, GM says it realized year-over-year improvements in profitability. GM's best-selling Ultium EV model continues to be the Cadillac Lyriq with a record 5,800 sales in Q1 and a very interesting 16.4% share of overall Cadillac sales .
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