It’s easy to think that the age of electrification has arrived, and the internal combustion engine is old news. After all, that’s been the messaging that’s been shoved down our throats from the biggest of automakers, to shill podcasts proclaiming the inevitability of battery-powered cars before they’ve been able to prove themselves. Of course, this messaging probably has much to do with the political side of things. But even with die-hard brands like Dodge showcasing its electric ambitions in the form of the Charger Daytona Banshee, ground for engine-powered cars is feeling rather shaky. There’s even going to be an electric Chevrolet Corvette, as we’ve originally reported. That being said, General Motors – perhaps the loudest voice in the industry when it comes to an electrified future – wants to reassure its customers that while it is electrifying its portfolio, the company will not be be abandoning internal combustion engines, according to GM President Mark Reuss.
Per Fox Business, GM President Mark Reuss says the “ICE age” is very much alive.
“We’re not going to abandon our internal combustion engine segments,” Reuss said. “We’ve got truck leadership with GMC and Chevrolet. We’ve got it across our midsize trucks, our full-size trucks and then beyond.”
If these bread-winning vehicles are still selling well, why should the company abandon the market? As has been the case, these more essential and high-margin vehicles have been footing the bill for GM’s electric vehicle budget, and to discard this core market and its customer would be foolhardy at this juncture.
At the same time, GM is focused on upping its EV production capabilities, even building new in-house battery plants, one of which is already up and running in Lordstown, Ohio that will propel their EV production forward. GM also raised its Q4 2022 guidance, and has stated that EV profitability will happen as soon as 2025, where it will have the scale to produce 1 million EVs annually.
GM’s ICE portfolio, which includes the record-breaking 2023 Corvette Z06, go-anywhere Chevrolet Silverado ZR2, the 680 hp Cadillac Escalade-V, and newly revealed 2024 GMC Sierra HD remain some top offerings in regard to ICE options currently available. The new Chevy Trax on the other hand, targets an entry-level buyer, and is one of the lowest priced brand new vehicles in America. This is partly because it runs on engine power, and not on expensive batteries.
The excitement of the company’s upcoming all-electric offerings such as the GMC Hummer EV, the Silverado EV, and the recently announced GMC Sierra EV, may shift their focus to an all-electric eager customer base at some point, especially when they finally have the means to answer the demand.
Overall GM will pour over $35-billion into its technological advancements needed to mass produce EV’s through 2025, until then their ICE staples are not going anywhere.