The second half of the year is a return to planning for the future rather than responding to short-term supply chain crises.
General GM is ready to roll into the third-quarter with an eye toward long-term strategy after reporting its second-quarter financial results on Wednesday. The automotive powerhouse is building new battery plants, expanding the EV charging infrastructure, and preparing to unveil the Cadillac Celestiq, a six-figure sedan that sets the tone for the future of electric cars.
Even though GM has billions of dollars behind their EV programs, they face intensifying competition from the auto industry, as well as production and price uncertainties in the supply chain.
In the second quarter, GM's US sales fell to 578,639, a decline of 15.4% from a year ago. There were 3.53 million new vehicle sales in the US.
Analysts will be watching out for what happens.
Analysts expect GM to report a profit of $1.30 per share on revenues of $34.6 billion in the second quarter of 2022. The company had a profit of $1.90 per share and revenues of $34.2 billion.
There is production.
As it tries to launch 30 new EV globally over the next couple years, GM will likely give an update on consumer demand. The Chevrolet Bolt EV and EUV are on sale, the GM Hummer EV and BrightDrop EV 600 are in production, and the launch of the Cadillac Lyriq is imminent.
The Chevrolet Silverado EV will be the first EV to be produced in the United States.
We'll be listening to GM's plans to compete against the electric models from Ford and other companies.
The EV and battery are assembled.
The loan from the U.S. Department of Energy will be used to build new plants for the production of batteries for electric vehicles. Ultium Cells plans to build factories in Michigan, Ohio and Tennessee.
GM's earnings call with analysts Tuesday may give an update on the project timeline and production volume, as well as what it means for GM's forthcoming EV. The first facility is expected to open in August. The plant in Spring Hill, Tennessee, will begin production in late 2023.
There is a cruise.
Cruise was the first company to offer rides to the general public in a major city when it launched in San Francisco.
Cruise said it has begun to offer an autonomously driving service in the Middle East. The city has dispatched a pair of Chevrolet Bolts to map it out. There is a plan for a launch in 3 years.
The Cruise Origin, as well as updates on GM's Factory ZERO assembly plant, where the company's purpose-built AV will be produced and GM's BrightDrop e-delivery van subsidiary, which is busy filling an order from Walmart, are some of the things we'll
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