GM to Start Selling Battery Technology to Raise Money for Development of EVs Like Silverado E
General Motors is hoping to raise as much as $20 billion dollars by 2030 by selling its EV technology to other industries. Part of that revenue could also come from selling electric conversion kits that could be used to retrofit older vehicles. That is great news for classic car lovers and owners. GM is looking to raise money to fund its future projects like the Silverado EV and the 2024 HUMMER EV SUV.
“GM has an established strategy, network of integrators and co-development agreements to apply an extensive array of components and solutions to a broad range of customers and use cases,” says Travis Hester, GM vice president of Electric Vehicle Growth Operations. “As companies across many industries look to reduce their environmental impact, GM is uniquely positioned to serve as a leader not only through exciting new EVs across our brands, but through additional technology applications, and we look forward to bringing customers – existing and new – along with us on our zero-emissions journey.”
GM to Offer Aftermarket EV Kits to Retrofit Vehicles
One of the most exciting aspects to the information announced today, is that GM will help the owners of older vehicles switch their powertrains over to EV technology. Chevy Performance will sell an eCrate package to aftermarket customers. Vehicle owners will be able to work with qualified installers through GM’s electric specialty vehicle modifier (eSVM) program. The installers have been trained to replace a vehicle’s internal combustion engine with a fully electric propulsion system.
Lingenfelter Performance Engineering has already electrified an incredible 1972 El Camino SS using a concept eCrate package. GM has already tested its eCrate conversion kit on the E-10 pickup, K-5 Blazer-E, eCOPO Camaro, and Project X built in collaboration with Cagnazzi Racing’s eCrate Solutions Group. Chevrolet Performance will launch its conversion program in 2022.
GM’s Future EV Plans
The automotive giant released more of its plans to sell its battery and fuel cell technology today. I reported last month that GM is marketing its Ultium battery platform to the marine industry for boats. It is also working to electrify the propulsion systems for aircraft and trains. GM previously announced partnerships with specific companies like electric boat company Pure Watercraft.
GM is now also working with Textron Ground Support Equipment to electrify its TUG line of baggage tractors and belt loaders. The intent is to use the lithium-ion electric powertrains for airport equipment around the world.
“Our customers will benefit from GM’s vast network of resources, support and experience as an innovator in the electrification space” Hester said. “As we advance our Ultium Platform and other zero-emissions technologies, we anticipate smaller, more affordable, and more flexible components and offerings over time.”
GM says it will provide more information about its plans to sell its technology to other industries in the future.
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