General Motors Company (NYSE:GM) is rebranding its Ultium electric vehicle (EV) battery technology as it is reportedly reevaluating its EV battery strategy.
The company said its EV batteries and technologies will remain the same but not under the Ultium name.
“As GM continues to expand its EV business, the company is no longer branding its electric vehicle architecture, battery and cells, or EV components with the Ultium name, starting in North America,” the company said in a statement.
GM has spent millions of dollars marking Ultium, including in Super Bowl ads in 2021 and 2022.
The announcement lined up with the company hosting Wall Street analysts at its Spring Hill, Tennessee manufacturing plant on Tuesday, during which it expressed optimism about its EV segment in 2025.
During the event, it confirmed it is on track to produce and wholesale about 200,000 EVs for North America in 2024, noting it is “making rapid progress toward EV profitability.”
It will be adding models to its EV lineup in the coming months, including the Cadillac VISTIQ and OPTIQ, with the Chevy Bolt to return in late 2025.
The company also noted that it is taking steps to address “range anxiety” concerns, collaborating with other automakers, charging companies like EVgo, and travel center operators like Pilot Flying J in a bid to make EV charging easier.
Following its EV update, shares of GM traded up 2.6% at about $47 in early trade on Wednesday.