GM is Discontinuing the “Ultium” Name for its Batteries
General Motors (GM) officially announced its plan to revamp its electric vehicle portfolio completely with the arrival of the Ultium battery technology, which reportedly makes electric vehicles much more efficient and cheaper. The company announced that batteries and technologies will remain but the name “Ultium” will not. The Ultium platform produces a range of electric vehicles, from compact cars to full-size trucks, using a scalable battery design of up to 200 kWh or more from a modular battery.
Electric Vehicle Battery Market Size
Precedence Research’s analysis on the global electric vehicle battery market size is predicted to grow from USD 76.59 billion in 2024 to approximately USD 573.08 billion by 2033, expanding at a solid CAGR of 25.1% from 2024 to 2033.
GM’s Ultium battery technology’s simple architecture, enhanced efficiency, and cost-effective manufacturing are noteworthy developments in electric vehicle (EV) design. Its versatility in application also eases the manufacturing of such batteries, shortening the time and cost of developing new EVs.
When it comes to performance, GM claims that the Ultium batteries are more efficient than traditional lithium-ion batteries. This translates to longer driving ranges and shorter charging times, which are major challenges EV consumers face. Better performance leads to longer travel for one charge and faster recharging, which increases general user satisfaction and makes electric vehicles widely used.
The new battery design is able to reduce production costs by 30%, making EVs more affordable. GM is attempting to reduce manufacturing costs and make electric vehicles practical for buyers. This combination of flexibility, efficiency, and affordability is poised to make a big difference in the electric vehicle market.
GM expects to boost EV sales in North America due to the rapid shift toward electric vehicles. It sets a target of producing about 200,000 EVs in North America this year. This may lead to increased adoption of Ultium battery technology. According to the U.S. Department of Energy, sales of electric vehicles in the U.S. are projected to account for 15% of total vehicle sales by 2025.
Ultium Battery Production Cost Projections (2024-2026)
| Year | Projected Production Cost per kWh (in USD) | Reduction Percentage (%) |
| 2024 | 150 | — |
| 2025 | 120 | 20% |
| 2026 | 100 | 17% |
GM has opened the doors of another chapter in electric vehicle technology by introducing the Ultium battery. This is an extremely important step in GM’s plan to dominate the electric vehicle market. By lowering production costs, GM is preparing itself to become a leading manufacturer and supplier of electric vehicles. With the help of such advancements, the EV manufacturing landscape is now gearing up and heading toward a sustainable future.
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With a Master of Science in Statistics and over two years of expertise in the market research industry, Rushikesh brings a wealth of knowledge to the world of electric vehicle (EV) news. His passion for the automotive sector, combined with his statistical expertise, allows him to analyze trends, consumer behavior, and emerging technologies with precision. Rushikesh’s ability to dive deep into the numbers, yet communicate them in a reader-friendly manner, makes him a key voice in the fast-evolving EV industry.
Having spent his academic and professional career immersed in data-driven analysis, Rushikesh leverages his strong statistical foundation to offer insights that are both thorough and forward-thinking. His keen interest in the automotive industry, especially electric vehicles, positions him uniquely to understand not only the current landscape but also the trajectory of the sector as governments, manufacturers, and consumers increasingly lean towards sustainable transportation.
