GM plans to release 15 new models of EVs based on its Ultium platform in China before the end of 2025.
Ultium was launched in September last year as “a game-changing electric vehicle platform built on a flexible battery architecture.”
GM Shanghai has spent 50 billion yuan (US$7 billion) on electric transition. WANG Yongqing, president of the company, said it will invest another 20 billion yuan and by 2025, GM Shanghai will have made a million EVs.
GM plans to debut four models next year. Julian Blissett, president of GM China, said 95 percent of materials will be purchased domestically. A new factory in Wuhan will open this year.
While the sales of GM EVs are yet to pick up in China, GM gasoline cars are in decline. Until October, GM Shanghai sold 852,800 cars, 20.6 percent less than last year. Last month, Only 700 of the much anticipated electric SUV, the Cadillac Lyriq, have been sold.
