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General Motors (GM) beats earnings expectations, details 2023 EV plans

The first 2022 GMC HUMMER EV Pickup Edition 1 exits Factory ZERO in Detroit and Hamtramck, Michigan. VIN 001 was auctioned in March 2021 at the Barrett-Jackson Scottsdale auction for $2.5 million to benefit the Tunnel to Towers Foundation. (Photo by Jeffrey Sauger for General Motors)

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General Motors (NYSE: GM) has announced its earnings for Q4 and Full Year 2022, beating consensus expectations and detailing its 2023 electric vehicle outlook.

GM made waves in the auto industry earlier this month after it was revealed that the American auto group had finally overtaken Toyota as the United States’ highest-producing automaker, selling 2.27 million vehicles in the United States. Unsurprisingly, this massive market share netted the company impressive amounts of revenue, among numerous positive indicators for investors.

During 2022, GM earned $14.5 billion in revenue (EBIT), crushing Wall Street’s expectations, and further grew revenue per share from $1.16 per share in Q4 2021 to $1.39 in Q4. However, earnings per share were down in total, falling from $6.70 per share to $6.13.

Following the news of record earnings, and GM’s partial acquisition of lithium mining company Lithium Americas, its stock skyrocketed and has remained elevated in the first half of the day.


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On top of its revenue success, GM CEO Mary Barra noted that the Chevy Bolt had become the United States’ favorite affordable EV, further indicating “the importance of affordable EVs in [its] portfolio.” The company now aims to produce 70,000 Chevy Bolt and Bolt EUVs this year after reaching record production in 2022.

“2023 will also be a breakout year for the Ultium Platform,” Barra continues. “By leveraging U.S.-made battery cells produced by our Ultium Cells joint venture and the scalability and flexibility of the Ultium Platform, we are accelerating production of the Cadillac LYRIQ, GMC HUMMER EV, and BrightDrop Zevo 600, and we will launch exciting vehicles like the Chevrolet Silverado EV, Blazer EV, and Equinox EV. This keeps us on track to produce 400,000 EVs in North America from 2022 through the first half of next year.”

As pointed out in the company’s press release earlier today detailing the partial acquisition of a lithium mining company, GM’s EV production growth past the next year and a half will be dependent on growing supplies of batteries as it looks to lower costs and maintain profitability.

While some GM EV projects are not as timely to the EV market as many would have liked, it is now more than ever dedicated to the endeavor. With a slew of new offerings coming to the North American market, the EV transition is slated for another year of dramatic growth, hopefully allowing ever more people to access cleaner mobility.

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

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Will is an auto enthusiast, a gear head, and an EV enthusiast above all. From racing, to industry data, to the most advanced EV tech on earth, he now covers it at Teslarati.

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Tesla Superchargers to be opened for VW ID.4 and ID. Buzz owners

The adapter, however, would need to be purchased by eligible customers.

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Credit: Volkswagen

Volkswagen has announced that owners of the ID.4 and ID. Buzz will soon gain access to Tesla’s expansive Supercharger network across North America. 

Starting November 18, eligible drivers can charge at more than 25,000 compatible DC fast chargers using a Volkswagen-approved NACS adapter. The adapter, however, would need to be purchased by eligible customers. 

Volkswagen goes NACS

To connect with the Tesla Supercharger network, ID.4 and ID. Buzz owners will need a $200 Volkswagen NACS-to-CCS adapter, which is available from dealers or online at parts.vw.com. Original owners of 2025 models can claim a $100 rebate within 90 days of purchase, with the program running through July 15, 2026, as noted in a press release. Starting with model year 2026, the NACS adapter will be included as standard equipment on all new Volkswagen EVs.

It should be noted that Volkswagen’s NACS adapter enables charging exclusively on DC fast chargers compatible with Tesla’s North American Charging System. It cannot be used with Level 1 or Level 2 AC chargers, including Tesla’s own Destination Charger network. Select 2024 and 2025 models will also receive a software update to ensure optimal performance when charging through NACS.

Volkswagen of America SVP’s comments

Volkswagen of America Senior Vice President of Product Marketing and Strategy Petar Danilovic shared his excitement about the ID.4 and ID. Buzz’s upcoming use of the Tesla Supercharger Network. 

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“This is great news for our EV owners,” he said. “They will now be able to access the more than 25,000 DC fast chargers on the Tesla Supercharger network across the United States, in addition to the more than 5,000 fast chargers on Electrify America’s grid. This makes life much more convenient, whether you are taking a road trip or you rely on public charging should home charging not be an option.”

To use the Supercharger Network, ID.4 and ID. Buzz owners could use the Tesla app to find compatible stations and pay directly for their charging sessions. Combined with Electrify America’s growing network, ID.4 and ID. Buzz owners now have more options for their charging needs, allowing them to travel long distances in their all-electric cars.

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Jim Farley admits he was “humbled” when Ford tore down Tesla and Chinese EVs

He noted that Ford’s Mustang Mach-E had roughly 1.6 kilometers more electrical wiring than Tesla’s sedan, making it heavier and more expensive to build.

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Credit: Jim Farley/X

Ford CEO Jim Farley says dismantling Tesla and Chinese-made EVs was a wake-up call that reshaped how the veteran automaker is taking on the electric transition. 

Speaking on the Office Hours: Business Edition podcast, Farley admitted he was “humbled” after learning how far ahead Tesla and China’s automakers were in design and efficiency. The revelation, he stated, convinced him that Ford had to rethink everything from engineering to strategy.

Teardowns and tech gaps

“I was very humbled when we took apart the first Model 3 Tesla and started to take apart the Chinese vehicles. When we took them apart, it was shocking what we found,” Farley told host Monica Langley, as noted in an Insider report. 

He noted that Ford’s Mustang Mach-E had roughly 1.6 kilometers more electrical wiring than Tesla’s sedan, making it heavier and more expensive to build.

The experience pushed Farley to launch Ford’s Model e in 2022, a dedicated EV division focused on competing with tech-driven automakers. Although Model e lost more than $5 billion in 2024 and is expected to face similar losses this year, Farley said he has no regrets. 

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“I knew it was going to be brutal business-wise. My ethos is, take on the hardest problems as fast as you can and sometimes do it in public because you’ll solve them quicker that way,” he said.

Farley has led Ford since 2020, during which he’s pushed the company to adopt leaner designs, modernized software systems, and faster EV production cycles inspired by Tesla’s model.

Urgency in Ford’s global push

Farley has repeatedly warned that Chinese EV makers such as BYD now pose an “existential threat” to legacy carmakers. He described Chinese electric vehicles as “far superior” and said their expansion overseas highlights how quickly the landscape is changing. 

“We can’t walk away from EVs,” Farley said. “Not just for the US, but if we want to be a global company, I’m not going to just cede that to the Chinese.”

Still, the U.S. market remains challenging. Farley expects only about 5% of domestic car sales to be electric in the near term, as buyers demand more affordable models. To meet that shift, Ford plans a $30,000 midsize electric truck for 2027.

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“We now know that the EV market in the US is totally different than we thought,” Farley stated.

@teslarati 🚨🚨 Tesla Full Self-Driving and Yap is the best driving experience #tesla #fsd #yapping ♬ I Run – HAVEN.
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Tesla Australia celebrates 150k vehicles on domestic roads

The milestone was announced by the electric vehicle maker on social media platform X.

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Tesla has reached a major milestone in Australia, celebrating 150,000 vehicles on local roads. 

The milestone was announced by the electric vehicle maker on social media platform X.

Sustainability for all

In its post on X, Tesla Australia and New Zealand noted that the 150,000-vehicle milestone is a notable accomplishment as it accelerates “sustainable abundance for all.” The company also thanked its customers down under for supporting its vehicles over the years.

“Accelerating sustainable abundance for all. Celebrating 150k Teslas on the road. Thank you, Australia,” Tesla Australia and New Zealand wrote in its post on X.

The post was accompanied by a photo of what appeared to be a Quicksilver Model Y premium with the Sydney Opera House in the background. This is an appropriate photo for the EV maker, as the Model Y consistently ranks among Australia’s top-selling electric cars, even as the market becomes flooded with cheaper, newer, and flashier competitors. 

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Australia’s FSD momentum

Last month, Tesla revealed that FSD Supervised users in Australia and New Zealand have collectively driven over 1 million kilometers within two weeks of the system’s public release. The company noted that drivers are averaging around 80,000 kilometers per day with FSD Supervised active, equivalent to 67 laps around Australia or 625 trips from Auckland to Invercargill.

“In less than 2 weeks, owners have travelled 1 million kilometers on FSD Supervised in AU & NZ,” Tesla’s local account wrote.

Australia became the first right-hand-drive market to gain access to FSD Supervised, which was officially launched in the country on September 18. Coupled with the presence of FSD (Supervised) subscriptions, the adoption of FSD in Australia has been understandably quick.

@teslarati 🚨🚨 Tesla Full Self-Driving and Yap is the best driving experience #tesla #fsd #yapping ♬ I Run – HAVEN.
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