Locator: 48634BATTERIES.
October 22, 2024: GM, 3Q24 earnings --
Let's look at GM's EVs:
- CEO says company on track to meet 2024 EV production and profitability targets
- still expects to manufacture 200,000 EVs in 2024
- through the end of September, GM has sold about 70,000 EVs in US
- EV production and sales "don't match exactly."
- assumption: GM doesn't sell more EVs than it manufactures
- GM press release: 3Q24 -- another record quarter of EV sales;
- 32,095 EV delivered -- that's a record! Wow.
- total vehicle sales: 659,601 vehicles
- other sources:
- battery cost, about $100 / kWh earlier this year
- GM may be closer to $90 / kWh now (3Q24)
- goal to mid-$80 by next year ("by next year" = end 2024?)
- goal to low $70 "in a couple of years"
- ICE (GoogleAI):
- average cost of replacing an ICE engine: $2,500 - $5,000
- average cost of replacing an automatic transmission for an ICE: $2,500 - $5,000
- suggesting: GM cost for powertrain for an ICE is about $8,000, tops
- average GM kWH battery:
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