General Motors is aiming for more affordable batteries following Ford’s and BYD’s lead. This could result in a Silverado EV offering 350 miles of range at a price tag $6,000 lower.
Unlike most other so-called “traditional” automakers who are trying to go electric, General Motors seems to have figured out the secret sauce: whoever controls the batteries controls the future. And two promising electric models are about to benefit from GM’s battery advancements that should make cars cheaper to buy.
A new report from
Bloomberg Businessweek
dives deeply into GM’s battery approach, focusing on their strategy of employing identical battery cells and modules across all their electric vehicles and manufacturing these entirely in-house.
That approach has definitely faced some bumps along the way.
resulting in a particularly tough year in 2023
, but the General has since sorted out many of those issues and used the strategy to scale up battery production while getting costs down. This is also
Why is General Motors moving toward profit?
with its EVs.
The first step has been completed. The next phase involves exploring various battery technologies and setups, similar to what many car manufacturers undertake. As part of this initiative, we aim to develop a lithium-iron phosphate (LFP) battery, akin to those used by companies such as Ford, BYD, and others, with the primary objective of reducing expenses.
For anyone not fascinated by the intricacies of battery chemistry, that means cheaper cars. GM will use LFP batteries in a new version of the Chevrolet Silverado EV truck, as well as the revived Chevrolet Bolt EUV, GM battery executive Kurt Kelty told the magazine.
According to Kelty, the Silverado EV equipped with LFP batteries is expected to provide approximately 350 miles of range, which is less than the 492-mile range offered by its counterparts. However, this model will come at a price tag that’s $6,000 lower, as mentioned by him.
The Silverado EV
might benefit from assistance with reducing expenses
A gas-driven Silverado falls within the $40,000 to $50,000 price bracket. However, the more basic Silverado EV Work Truck (WT) begins at $55,000 currently.
The civilian edition of the electric pickup truck has a starting price of $73,100.
RST First Edition
The test from last year cost $96,000. If it could actually reduce these costs by $6,000 and still provide an impressive range of 350 miles, it would make for a far better value proposition.
2026 Chevrolet Bolt Rendered
The magazine’s article provided minimal details about the new Bolt, save for a brief mention of an eye-catching “sports-inspired crossover” model referred to as the Funbolt.
LFP batteries
Have become crucial for reducing electric vehicle expenses, impacting both manufacturing and consumer prices. Although these batteries lack the high energy density and consequently offer shorter ranges compared to conventional lithium-ion units, they are more cost-effective to produce. They can be likened to the smaller, four-cylinder engines in the automotive sector—they do not require premium performance from every engine. Models such as certain Tesla vehicles, several Ford Mustang Mach-E versions, Zeekr offerings, along with multiple BYD options utilize LFP batteries. The trend towards their adoption continues throughout the industry.
Last year, GM announced it would phase out the “Ultium” brand to launch new battery alternatives, such as LFP cells. At that point, Kelty mentioned that opting for LFP batteries would
enable easier and more cost-effective packaging production
By reducing the number of modules in each pack by as much as 75%, as he reaffirmed to
Bloomberg Businessweek
, which would equate to a $6,000 reduction for each individual electric vehicle they produce from one generation to the next.
Contact the author:
[email protected]
More LFP News
- Tesla Model 3 Owner Uncovers Unexpected Wearing of LFP Batteries After 110,000 Miles
- Mercedes Aims for Electric Vehicle Batteries Featuring Both NMC and LFP Cell Types
- Study Reveals LFP Battery Degradation When Fully Charged
- Zeekre Asserts That Their New LFP Battery Boasts The Quickest Recharge Time Globally
- In 2026, the Chevrolet Bolt will become the “most affordable” electric vehicle available according to General Motors.
- “Improved” Upcoming Chevy Bolt Will Feature More Affordable LFP Battery