General Motors will retire its Ultium brand in favour of a multi-chemistry EV battery approach, while reaffirming steady profits and rising EV sales amid strong ICE vehicle demand.
General Motors is making a significant strategic pivot, abandoning its much-hyped Ultium battery brand and redefining its electric vehicle strategy. This departure from years of promoting Ultium as the cornerstone of its EV future was announced at an investor event in Tennessee.
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GM’s recent acquisition of TEI, a company with a notable history of collaboration with Tesla in pioneering gigacasting technology, has set the automotive industry abuzz. With an estimated value approaching $100m the strategic move may indicated GM’s positioning to bolster its manufacturing capabilities in gigacasting.
The production pauses come at an already challenging time for GM due to recent union negotiations.
GM and Mitra Chem will work together to develop “advanced iron-based cathode active materials (CAM), like lithium manganese iron phosphate (LMFP), to power affordable and accessible EV batteries compatible with GM’s EV propulsion architecture, the Ultium Platform.”
