Batteries For EVs

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: