General Motors Company (GM) UBS Global Industrials and Transportation Conference summary

Strategic announcements and partnerships

• Announced sale of interest in Ultium Cells Site 3 to LG, maintaining flexibility in battery cell strategy and focusing on pouch and prismatic cell partnerships.

• Ongoing collaboration with LG on prismatic can solutions, with potential for future integration into existing plants.

• Emphasized agility in EV adoption and capacity planning, ensuring ability to scale with market demand.

China restructuring and financial discipline

• Disclosed upcoming restructuring charge in China, aiming to avoid further U.S. capital injection and right-size operations for lower demand.

• Finalizing restructuring with Chinese partners, targeting profitability in China next year on a smaller scale.

• Deferred some payments and dividends to preserve cash, with restructuring funded from JV balance sheet.

Core business performance and market outlook

• November sales and pricing remained strong, with EV market share around 12% and overall share above 17%.

• On track to achieve variable profit positive for EVs in Q4, with $2–4 billion profit improvement expected in 2025.

• Inventory levels expected in the 50–60 day range, aligning with seasonal production and sales cycles.