The Detroit automaker reported fourth-quarter adjusted profit of $2.12 a share on Tuesday, beating analysts’ projection for $1.67 a share.
“2023 will also be a breakout year for the Ultium Platform,” she said. “This keeps us on track to produce 400,000 EVs in North America from 2022 through the first half of next year.”
Company Chief Financial Officer Paul Jacobson said on a call with journalists that the company will increase production of EVs in the first half and step up the pace even more in the second half of 2023. That’s likely to please investors who’ve have been waiting for GM to boost sales of its Ultium vehicles, which have sold in very small amounts during the past year.
The automaker posted operating income from its home market in North America last quarter of $3.65 billion in the quarter, up from $2.17 billion in the year-earlier period. InCruise LLC, GM’s
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