GM appoints former Tesla executive as VP of battery unit
Reuters
Published Feb 08, 2024 10:07AM ET
Updated Feb 08, 2024 11:03AM ET
(Reuters) - General Motors (NYSE:GM) on Thursday named former Tesla (NASDAQ:TSLA) Inc executive Kurt Kelty to the newly created role of vice president of its battery unit.
Kelty led Tesla's battery development team for 11 years and played a key role in setting up Tesla's first Gigafactory, before joining silicon anode maker Sila Nanotechnologies.
The move comes as GM is working to boost battery manufacturing to support its target of building capacity to produce 1 million electric vehicles in North America by 2025.
Reuters reported last year that a slow ramp-up of its three U.S. battery plants could limit actual EV production.
The top-selling U.S. automaker said last month it expects overall EV sales will rise this year to 10% of the U.S. market from 7% in 2023.
GM also said it will launch plug-in hybrid vehicles in North America as hybrid sales have been rising.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.