'It's not a trend it's a truck', says GM President Mark Reuss on electric Chevy Silverado
TLDRGeneral Motors (GM) President Mark Reuss discusses the company's commitment to electric vehicles (EVs) despite recent industry sales slowdowns. GM is increasing production of battery cells and packs, and Reuss emphasizes the importance of the Equinox EV, priced at $34,995 with a range of over 300 miles. He also addresses the Chevy Silverado EV, highlighting its features like a 440-mile range and 10,000-pound towing capacity, and asserts that it's not just a trend but a refined truck. Reuss is confident in the strong demand for electric pickup trucks, given GM's expertise in the market. He outlines GM's strategic decision to vertically integrate and manufacture battery modules and packs in-house, which is now enabling them to supply all the necessary components for their EV lineup. The company is excited about its progress and the potential for growth in the EV market.
Takeaways
- 🚗 General Motors (GM) is increasing production of battery cells and packs to support electric vehicle (EV) production.
- 📉 EV sales have recently experienced a slowdown across the industry.
- 💰 The new Chevy Equinox EV is priced at a starting point of $34,995, targeting affordability for consumers.
- 🌟 The Equinox EV offers a range of over 300 miles, positioning it in the heart of the EV market with few current competitors.
- 🏋️♂️ Mark Reuss, GM President, emphasizes that the electric Chevy Silverado is not just a trend but a serious truck with capabilities like 440 miles of range and 10,000 pounds of towing capacity.
- 🔧 The Silverado EV features a deployable midgate, full steering, air ride, and is considered one of the most refined pickup trucks ever made by GM.
- 📈 GM holds nearly 46% of the total pickup truck market and is confident in its expertise in manufacturing trucks.
- 🎨 The design of the Silverado EV is highlighted as gorgeous and comprehensive, with unique features not commonly found in the market.
- 🔋 GM has taken steps to vertically integrate the production of battery modules and packs to control costs and supply for their EVs.
- ⏱️ The company made strategic decisions four years ago to transition ahead of the competition into electric vehicles, which is now coming to fruition.
- ⚙️ The production process involves automation and skilled labor, emphasizing the combination of technology and craftsmanship in GM's approach to EV manufacturing.
Q & A
What is General Motors' strategy to ramp up production of battery cells and packs?
-General Motors is focusing on vertical integration, which involves producing battery cells and packs in-house at their Tennessee plant, to ensure supply and control over the production process.
What is the significance of the Chevy Equinox in General Motors' electric vehicle lineup?
-The Chevy Equinox is important for General Motors as it offers affordability in the electric vehicle market, with a starting price of $34,995 and a range of over 300 miles, positioning it in the heart of the electric vehicle market segment.
Why does Mark Reuss believe there will be strong demand for the electric Chevy Silverado?
-Mark Reuss is convinced of strong demand for the electric Chevy Silverado because it is not just a trend but a truck with a 440-mile range and a towing capacity of 10,000 pounds, along with features like a deployable midgate and full steering, making it one of the most refined pickup trucks.
What is the starting price for the electric Chevy Equinox?
-The starting price for the electric Chevy Equinox is $34,995.
How does General Motors plan to keep costs low for their electric vehicles?
-General Motors plans to keep costs low by vertically integrating the production process, making battery modules and packs in-house, which allows for better control over costs and supply.
What is the estimated range of the electric Chevy Silverado?
-The electric Chevy Silverado is estimated to have a range of 440 miles.
What is the towing capacity of the electric Chevy Silverado?
-The towing capacity of the electric Chevy Silverado is 10,000 pounds.
Why did General Motors decide to vertically integrate its production process?
-General Motors decided to vertically integrate to take a lead in the transition to electric vehicles, making hard decisions to control more aspects of the production process and ensure supply of critical components like battery cells and packs.
What is the current market share of General Motors in the total pickup truck market?
-General Motors currently holds a market share of close to 46% in the total pickup truck market.
What are some of the unique features of the electric Chevy Silverado that set it apart from other trucks on the market?
-Unique features of the electric Chevy Silverado include a deployable midgate, full steering, air ride suspension, and a design that Mark Reuss describes as gorgeous, indicating a focus on both functionality and aesthetics.
How does General Motors view the electric vehicle market in terms of competition and opportunity?
-General Motors views the electric vehicle market as an opportunity to take an unfair share by being ahead of the competition in the transition to electric vehicles, focusing on innovation and vertical integration to offer competitively priced, high-quality electric vehicles.
Outlines
🚗 General Motors' Commitment to Electric Vehicle Affordability and Performance
General Motors is increasing the production of battery cells and packs in response to a general slowdown in electric vehicle (EV) sales across the industry. GM President, Mark, highlights two key models: the Equinox and the Silverado EV. The Equinox is priced at approximately $34,995, aiming to offer an affordable electric vehicle option with over 300 miles of range, targeting the core of market demands where choices are limited. On the other hand, the Silverado EV, despite less demand than anticipated, boasts impressive features such as a 440-mile range, 10,000 pounds of towing capacity, and advanced design elements. Mark emphasizes GM's strategic advance in battery technology and vertical integration, especially at their Tennessee plant, to maintain competitive pricing and meet the high standards set by their long history in the truck market.
Mindmap
Keywords
💡General Motors
💡EV Sales Slow Down
💡Equinox
💡Silverado EV
💡Battery Technology
💡Vertical Integration
💡Market Share
💡Design
💡Affordability
💡Towing Capacity
💡Automotive Industry
Highlights
General Motors is increasing production of battery cells and packs.
Electric vehicle (EV) sales have slowed down across the industry.
GM President Mark Reuss discusses the importance of the Equinox for General Motors.
The Equinox is priced at $34,995 with over 300 miles of range.
Mark Reuss emphasizes the Equinox's affordability in the electric vehicle market.
The Silverado EV is positioned as a truck, not just a trend.
The Silverado EV has features like a 440-mile range and 10,000 pounds of towing capacity.
GM has a strong presence in the pickup truck market, holding close to 46% of it.
Mark Reuss believes the Silverado EV is the most refined pickup truck ever made.
GM is vertically integrating its production to supply all the cells and packs for its vehicles.
The company has made hard decisions to transition ahead of the competition in electric vehicles.
GM's battery technology and production methods aim to keep costs low.
Mark Reuss is confident in the strong demand for the electric pickup truck.
The design of the Silverado EV is highlighted as gorgeous and comprehensive.
GM's strategy includes automation and skilled labor in its production process.
The company is excited about its ability to supply all the necessary components for its electric vehicles.
Mark Reuss has personally tested the Equinox and is enthusiastic about its performance.
