CLAIM #27846 · General Motors Company (GM) · 2023Q2 earnings call · Jul 25, 2023 · due Jun 30, 2024
“Yes, we so we're not walking away from any of the targets we put out, whether it's 100,000 in the second half of this year, leading them to 400,000 by middle of next year.”
Mary Barra · CEO
In context
“happy as evidenced by the still the strong. Actually, we can't build enough Bolts right now. So we'll share more about what everything means for our EV margins when we get to November. But again, we thought it was the right thing to do, and we are -- have been and will continue to work with our partner, LG ES to take cost out of what of the Ultium and specifically the Cells, Operator: Our next question comes from Itay Michaeli with Citi. Itay Michaeli: And congrats on the results. Just wanted to ask a couple of questions on the Ultium ramp. First, the issue what you identified with the automation equipment for the modules. Can you talk about when you expect that to be fully resolved? And are you still targeting the $400,000 of cumulative volume by the first half of next year? Mary Barra: Yes, we so we're not walking away from any of the targets we put out, whether it's 100,000 in the second half of this year, leading them to 400,000 by middle of next year. And what you're going to see in the second half of this year and then really crank up in the first half of next year is a lot more Ultium-based product. . We were surprised the supplier, we thought they were in better on track for the delivery that they had. So we have seen in our teams to help them get the automation up and running. We've already seen a lot of improvement from I'll say, the last four to six weeks, we're going to continue on that path. But to derisk it, we've also added additional lines because we don't want module production to gate our launch of all the products that we have coming in the second half of this year and continuing into next. And we know we're going to need that module assembly capability anyway as we continue to grow beyond the 400,000. So disappointing, I”
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SEC filings for GM ↗ · Claim quote is verbatim from the 2023Q2 earnings call.