GM has figured out the secret sauce, and it’s not about going electric; it’s about controlling the batteries that control the future. Two promising electric models, the Chevrolet Silverado EV and the revived Chevrolet Bolt EUV, are set to benefit from GM’s battery advancements that promise to make cars cheaper to buy. A new report from Bloomberg Businessweek delves deep into GM’s battery strategy, which involves using the same battery cells and modules for every electric vehicle it makes and crafting them in-house. This approach has had its hiccups, but the General has since ironed out many of the issues and used the strategy to scale up battery production while reducing costs. This is also why GM is approaching profitability with its EVs. The first step in GM’s battery strategy was to use the same battery cells and modules for every electric vehicle it makes and craft them in-house. This approach has its advantages. For one, it allows GM to standardize its battery technology, making it easier to design and manufacture. Additionally, by controlling the production process, GM can reduce costs and increase efficiency. However, this approach also has its challenges, including the need for significant investment in new facilities and equipment, as well as the potential for quality control issues. The second step in GM’s battery strategy is to branch out into different battery chemistries and configurations, as other automakers do. Among the fruits of this effort will be a lithium-iron phosphate (LFP) battery, used by other automakers like Ford, BYD, and Tesla. The use of LFP batteries will enable GM to cut costs and improve the efficiency of its battery production. For consumers, this means that GM’s electric vehicles will become cheaper. One of the electric vehicles that will benefit from GM’s new battery strategy is the Chevrolet Silverado EV truck. The truck will use LFP batteries, which will offer 350 miles of range, down from the other variants’ 492 miles of range. However, the truck will also be $6,000 cheaper, thanks to the reduced cost of the LFP batteries. The Silverado EV has a long history of being a high-performance vehicle, but its electric variant has struggled to gain traction. The gas-powered Silverado can be had in the $40,000 to $50,000 range, but the electric version starts at $55,000 for the Work Truck model and $73,100 for the civilian version. However, with the new LFP battery, the truck should become a much more attractive option for consumers. The RST First Edition model, which was tested last year, cost $96,000, and if the new battery technology can really cut $6,000 off those prices, it should be a much more solid deal. Another electric vehicle that will benefit from GM’s new battery strategy is the revived Chevrolet Bolt EUV. The car will also use LFP batteries, which will offer improved efficiency and reduced costs. While details about the new Bolt are scarce, a sporty-looking crossover concept called the Funbolt was showcased. LFP batteries have emerged as a crucial tool in the EV industry, enabling automakers to cut costs and improve efficiency. They are less expensive to produce than traditional lithium-ion batteries, but have less energy density, resulting in less range. However, this is not a limitation for consumers. LFP batteries are ideal for smaller, more affordable EVs, where the added range is not as critical. Tesla, Ford, and various BYD models all use LFP batteries, and more are expected to follow suit. The use of LFP batteries by other automakers has helped to drive down the cost of EVs, making them more accessible to consumers. GM’s decision to use LFP batteries in its electric vehicles is a strategic move to increase its competitiveness in the market. GM has also confirmed its plans to discontinue the “Ultium” branding to introduce new battery options, including LFP units. The company’s battery executive, Kurt Kelty, explained that the use of LFP batteries will allow for simpler and cheaper pack production, slashing the number of modules in each pack by up to 75%. This should translate to a $6,000 reduction in the cost of every single EV it produces from one generation to another. In conclusion, GM’s battery strategy is a key factor in its success, enabling the company to control costs, increase efficiency, and improve the competitiveness of its electric vehicles. The use of LFP batteries in the Chevrolet Silverado EV and the revived Chevrolet Bolt EUV will enable GM to cut costs and make its electric vehicles more affordable for consumers. Key Points:
• GM has figured out the secret sauce to making electric cars affordable. • GM’s battery strategy involves using the same battery cells and modules for every electric vehicle it makes and crafting them in-house. • The company is branching out into different battery chemistries and configurations, including lithium-iron phosphate (LFP) batteries. • GM will use LFP batteries in the Chevrolet Silverado EV and the revived Chevrolet Bolt EUV, offering 350 miles of range and reduced costs. • The company’s decision to use LFP batteries is a strategic move to increase its competitiveness in the market.

• Less expensive to produce than traditional lithium-ion batteries. • Less energy density, resulting in less range. • Ideal for smaller, more affordable EVs. • Enables automakers to cut costs and improve efficiency. • Expected to drive down the cost of EVs, making them more accessible to consumers.

• Use the same battery cells and modules for every electric vehicle it makes and craft them in-house. • Branch out into different battery chemistries and configurations, including LFP batteries. • Discontinue the “Ultium” branding to introduce new battery options, including LFP units. • Slash the number of modules in each pack by up to 75% to simplify and reduce costs.