GM Snaps Up Former Tesla Battery Expert Kurt Kelty To Supercharge Affordable EV Strategy
Portfolio Pulse from Anan Ashraf
General Motors Co (NYSE:GM) has hired Kurt Kelty, a former Tesla executive with over 11 years of experience in battery technology, as its Vice President of Batteries. Kelty, who played a key role in developing Tesla's Gigafactory, will lead GM's battery cell strategy to boost the company's affordable electric vehicle (EV) production. This move comes as GM aims to scale its EV production in North America, with a target of producing 200,000 to 300,000 Ultium-based EVs across its Chevrolet, GMC, Cadillac, and BrightDrop brands, despite acknowledging a slowdown in EV growth and adjusting production targets.
February 09, 2024 | 9:12 am
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General Motors Co has strategically hired Kurt Kelty, a former Tesla executive, to lead its battery cell strategy and enhance its affordable EV production capabilities.
Kurt Kelty's hiring is a significant move for GM, indicating a strong commitment to advancing its EV technology and production capabilities. His experience with Tesla's Gigafactory and expertise in battery technology are likely to positively impact GM's ability to meet its EV production targets and enhance its competitive position in the EV market. This strategic hire could boost investor confidence in GM's EV strategy, potentially leading to a positive short-term impact on GM's stock price.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90