Tesla Stock Dives After 'We, Robot' Event, Lucid's Q3 Deliveries Beat, GM Reworks Battery Strategy And More: Biggest EV Stories Of The Week
- by Benzinga.com
- Oct 12, 2024
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October 12, 2024 3:45 PM
| 4 min read GM Ditches Ultium Concept: Legacy automaker General Motors Corp.
GM
, which once vouched by the concept of a unified battery system across all of its EVs, has decided to move away from the approach. At an investor event held this week, GM’s Vice President of Batteries Kurt Kelty said, “It now makes business sense to transition from one-size-fits-all to new program-specific batteries.” The company plans to move away from nickel cobalt manganese chemistry to lithium iron phosphate battery tech, which has the potential to reduce EV costs by $6,000.
The company also announced it will start building a battery cell development center at its Global Technical Center in Warren, with the team exploring cylindrical and prismatic cells in addition to the pouch format.
GM CEO Mary Barra said the company’s EV losses peaked this year and profitability will improve significantly next year, and that it is on track to manufacture its 200,000th EV in North America this year.
XPeng Launches P7+ EV Sedan: Chinese EV startup XPeng, Inc.
XPEV
unveiled the p7+ all-electric sedan, with the company calling it its first artificial intelligence-defined vehicle. “Plus stands for more – more technology, more space, more for your family,” it said. Presales of the the model will begin at the 2024 Paris auto show on Oct. 14, with deliveries starting in China in early November. The company has been quick with its product launches even as it navigates through a challenging demand environment in China.
We're excited to unveil our first AI-defined vehicle, the #XPENGP7Plus.
"Plus" stands for more – more technology, more space, more for your family!
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