EV: GM expects dramatic cost reductions and EV range to 450 miles within about 4 years

Alongside the scaling of EV production, GM expects that the cost of its Ultium batteries will drop by 60 percent by the middle of this decade, bringing the batteries “closer to cost parity with gas-powered engines.” GM also said that its second-generation Ultium batteries will be ready by that time, which will have twice the energy density of the current batteries.

Source: GM Accelerates Electrification Timeline, Plans 30 EVs by 2025

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