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After losing EV market share in the US in the first three months of 2024, GM believes it can turn things around. GM expects new models like the Chevy Equinox EV and improved battery production will help regain EV market share in the second half of the year.

A record first quarter, but what about EVs?

GM raised full-year guidance after topping Wall St estimates and achieving its best Q1 revenue. The company’s revenue rose 8% to $43 billion with a consistent +15% CAGR growth over the past 24 months.

Although Ultium-based vehicle deliveries were up 36% during the quarter, total EV sales slid over 20% YOY as the company’s cheapest Chevy Bolt EV was phased out.

GM’s Cadillac Lyriq and GMC Hummer EV both saw solid sales growth in Q1, with 5,800 (+499%) and 1,668 units sold, respectively. The Blazer EV (600) and Silverado EV (1,061) contributed to the Ultium sales growth.

However, it wasn’t enough to maintain market share in the US EV market. With Chevy Bolt EV sales down 64% to just 7,040, GM lost market share from Q4.

Chevy-Bolt-EV
Chevy Bolt (Source: GM)

GM accounted for 6.2% of the US EV market in the first three months of 2024. That’s down from 8.4% a year ago and 6.9% last quarter.

Of the over 594,000 vehicles GM sold in the US in Q1, only 16,425, or about 2.7% of them, were EVs.

Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024
8.4% 5.4% 6.6% 6.9% 6.2%
GM US EV market share (GM estimates)

GM to ramp EV market share and profitability

After missing its EV sales targets over the past two years, GM believes it’s finally exiting “production hell” with high hopes for the second half of 2024.

GM aims to build around 200,000 to 300,000, or about 20X more Ultium EVs this year than in 2023. Although that may seem drastic, it’s still down from GM’s initial 400,000 EV production goal through mid-2024.

Chevy-Equinox-EV-prices
2024 Chevrolet Equinox EV 1LT (Source: Chevrolet)

CEO Mary Barra says 2024 will be the “year of execution” as it looks to get back on track. In the first quarter, GM said battery module production increased 300% over the past six months.

The company plans to double its current capacity by the end of summer, which GM believes can help it regain US EV market share.

GM-EV-market-share
2024 Cadillac Lyriq models (Source: GM)

Cadillac’s Lyriq accounted for 20% of brand sales in Q1, second to only the Escalade. With 50% of Lyriq buyers new to GM and 70% new to Cadillac, the brand believes the electric crossover will continue seeing strong demand.

New models coming to boost market share

Meanwhile, the new electric Chevy Equinox, which GM says is the most affordable EV with over 300 miles range, is already available to order.

Starting at $34,995 (including destination), the Chevy Equinox EV will be one of the cheapest EVs on the US market. However, that’s for the 1LT trim, which will be available later this year.

Chevy Equinox EV trim Starting Price
1LT FWD $34,995
2LT FWD $43,295
2RS FWD $44,795
3LT FWD $45,295
3RS FWD $46,795
Chevy Equinox EV prices (including $1,395 destination fee)

The current cheapest 2LT trim starts at $43,295. With the tax credit, the Chevy Equinox EV price could fall as low as $35,295.

Chevy’s Blazer EV is also eligible for the $7,500 tax credit. Following recent price cuts, the Blazer EV can be bought for as low as $50,195. With the credit, it can be bought for as little as $42,695.

Chevy-Blazer-EV-reimbursement
2024 Chevy Blazer EV RS (Source: GM)

GM also revealed the 2024 Silverado EV RST will have “more range than any EV pickup,” with up to 440 miles range (GM estimated). It will be available in mid-2024 with up to 10,000 lbs max towing. The GMC Sierra EV Denali is also expected to reach 440 miles range and have similar towing power.

Cadillac will expand its lineup with the CELESTIQ, OPTIQ, and Escalade IQ launching. With the new models, GM says its EV business is on track to achieve a positive variable profit in the second half of 2024.

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Toyota funded climate deniers and Fred says Elon fudged the FSD numbers

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Toyota funded climate deniers and Fred says Elon fudged the FSD numbers

On today’s episode of Quick Charge, we look into a new study revealing that Toyota outspends all other automakers when it comes to funding climate change denying politicians and Fred accuses Elon of misrepresenting the data behind Full Self Driving (again).

We’ve also got word that the recently redesigned Tesla Model Y is being built in Giga Berlin, Hyundai’s electrified lineup is leading a record export year for the brand, and a new study says cleantech investments will beat out conventional energy production for the first time in 2025.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.

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Amazon places its largest-ever order for electric semi trucks

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Amazon places its largest-ever order for electric semi trucks

Amazon is adding over 200 Mercedes-Benz eActros 600 electric semi trucks to its fleet later this year – its largest-ever order of electric heavy goods vehicles (eHGVs).

Amazon’s new electric semi trucks

These electric trucks will handle high-mileage routes across the UK and Germany, moving trailers between Amazon’s fulfillment centers, sorting centers, and delivery stations. 

The new eHGVs are expected to transport more than 350 million packages annually once fully operational.

Amazon is installing 360kW charging stations at key sites capable of powering the 40-tonne trucks from 20-80% in just over an hour. The company is also working with stakeholders to establish external charging locations to support longer routes.

The eActros 600 is Mercedes-Benz Trucks’ flagship electric long-hauler, with a battery capacity of more than 600 kWh and a range of 310 miles (500 km). Production of the eActros 600s recently began at Mercedes-Benz’s factory in Wörth, Germany.

Sustainable delivery across Europe

In the UK, Amazon has begun using the electric rail network for package transport at scale. It’s also rolling out on-foot delivery options in London, with associates using carts that can be restocked from nearby vans. In Germany, Amazon doubled its fleet of Rivian electric delivery vans to over 600, and electric cargo bikes delivered more than 1.5 million packages in Berlin alone last year.

By the end of 2024, Amazon plans to expand its micromobility hubs – locations supporting deliveries by foot and cargo bike – to Germany’s five largest cities and beyond. Across Europe, the company is investing more than €1 billion to further electrify and decarbonize its transportation network.

Amazon’s European network already includes 38 eHGVs, with 50 electric semis recently deployed in California. The company’s fleet of electric delivery vans in Europe has grown to over 3,000 and is expected to surpass 10,000 by the end of 2025. Micromobility hubs have also expanded from 20 cities in 2022 to more than 45 by the end of 2024, including new additions in Belfast, Madrid, Rome, and Vienna.

Electrek’s Take

Amazon says its latest electric semi truck order aligns with The Climate Pledge it announced in 2019, in which the company committed to achieving net zero across its operations by 2040. While The Climate Pledge initiative has garnered praise, it has also faced criticism and skepticism regarding its effectiveness and transparency.

In 2020, Amazon faced allegations of retaliating against employees who spoke out about the company’s environmental policies. The National Labor Relations Board found that Amazon had illegally fired workers who advocated for climate action and better safety measures.

Amazon is also donating $1 million to President-elect Donald Trump’s inaugural fund. Trump is a climate change denier who actively opposes renewables, and not just in the US. Earlier this month Trump demanded that the British government open up the North Sea to fossil fuel drilling and get rid of “windmills.”

Read more: It begins: Mercedes eActros 600 electric semi truck enters production


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Check out the new Genesis GV60 interior, it looks even more luxurious in blue [Video]

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Check out the new Genesis GV60 interior, it looks even more luxurious in blue [Video]

If you thought the current GV60 looked pretty inside, wait until you see the updated model. Genesis unveiled the new GV60 earlier this month, its first major redesign since launching in 2021. Here’s our first look at the interior of the new Genesis GV60.

Genesis GV60 interior gets an upgrade in the new model

Genesis launched the GV60 in October 2021 as its first dedicated EV. Less than four years later, the luxury electric SUV is already getting a new look.

The luxury brand unveiled the new GV60 last week for the first time. One of the biggest updates is to the front end.

Although the GV60 is already a sporty-looking EV, the redesigned front bumper with a new 3-D shape takes it up another level. Then, add the signature Genesis Two Line headlamps with Micro Lens Array (MLA) tech, and the refreshed GV60 is a head turner.

The revamped model now features 21″ wheels with a new five-spoke design, complementing its wide, low stance.

Inside, the upgraded GV60 features its new 27″ connected car Integrated Cockpit (ccIC) infotainment system. The design “eliminates the bezel” between the driver display and infotainment screens.

New-Genesis-GV60-EV
The updated Genesis GV60 (Source: Genesis)

The new Genesis GV60 interior also gains a redesigned three-spoke steering wheel for an even more sporty feel while you’re in the cockpit. Other popular features from the outgoing model, like the Crystal Sphere shift-by-wire system, are still included.

After revealing the updated model for the first time last week, we are already getting a look at the redesigned interior.

The updated interior of the Genesis GV60 in blue (Source: HealerTV)

A new video from Korea’s HealerTV gives us our first look at the Genesis GV60 interior in a new blue color. Although the reporter initially thought it was a performance model, he noted it was just a new color option. Other added design elements, like the large quilting pattern on the side panels, give it that Bentley or Rolls-Royce feel.

Last week, HealerTV posted a video revealing the first look at the updated Genesis GV60 exterior design. You can see the redesigned front and rear bumpers add to the GV60’s already impressive look.

Genesis GV60 update first look (Source: HealerTV)

In the US, the 2025 Genesis GV60 starts at $52,350. A new AWD trim was introduced this year, starting at $55,850.

The current mode gets up to 294 miles driving range, but a bigger battery is expected to push that number closer to 300 miles in the 2025MY. It’s expected to feature the same 84 kWh battery as the updated 2025 IONIQ 5, which provides up to 318 miles range. That’s up from 303 miles in the previous model with a 77.4 kWh battery.

2025 Genesis GV60 trim Range
(EPA-est)
Starting Price*
Standard RWD 294 miles $52,350
Standard AWD 264 miles $55,850
Advanced AWD 248 miles $60,900
Performance AWD 235 miles $69,900
2025 Genesis GV60 prices and range by trim (*excluding $1,350 destination fee)

Genesis will launch the updated GV60 in Korea in the first quarter of the year, with overseas markets following shortly after. Check back for more info, including prices and specs, closer to launch.

What do you think about the new GV60 design? Do you like the changes? What would you change? Let us know in the comments below.

Ready to check out the electric luxury SUV for yourself? With the 2025 models here, Genesis is offering clearance prices on the 2024 lineup while they are still in stock. You can use our link to find offers on 2024 and 2025 Genesis GV60 models at a dealer near you today.

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