GM Ultium EVs ramping slowly, as targets look out of sight

General Motors’ third-quarter financial results show a slow production ramp of Ultium EVs but indicate the automaker is unlikely to meet its near-future electric vehicle delivery targets.

GM reported that it delivered just 4,222 Ultium EVs in Q3, compared to 15,835 Bolt EV and Bolt EUV models. The Bolt EV and EUV, which are based on a different architecture than the Ultium models, are scheduled to end production this year. GM has said they will be replaced by an Ultium-based successor.

The Cadillac Lyriq had the highest delivery total among the current Ultium models, at 3,018 units for the quarter. That brings year-to-date deliveries up to 5,334 vehicles, signaling that Lyriq production may finally be accelerating after a slow start last year.

The GMC Hummer EV also started production last year, in pickup form. GM reported deliveries of just 1,167 of the…