Welcome to the General Motors 2024 Annual Meeting of Shareholders. I am John Kim, Assistant Corporate Secretary. Joining me today is Mary Barra, Chair and CEO, and Craig Glidden, General Counsel, Corporate Secretary, and Executive Vice President, Legal, Public Policy, and Cybersecurity. Craig has been designated to conduct the business portion of our meeting and will serve as the meeting secretary. Following adjournment, Mary will provide business remarks and answer questions from shareholders. The agenda, along with the rules of conduct, are available for download by clicking the links on the bottom of your screen. The rules of conduct contain the legend regarding forward-looking statements, and the content of today's meeting will be governed by this language.
If we discuss non-GAAP financial measures in today's presentations, a reconciliation to the most directly comparable GAAP measure is provided in our SEC filings, which are available on our website at investor.gm.com. We are committed to holding an annual meeting that allows for a respectful exchange of information that's useful to everyone. We appreciate your cooperation in making this happen. I will now turn it over to Craig.
Thank you, John. Let me first acknowledge that each of the board nominees has joined the meeting today. Also attending the meeting are members of GM's Senior Leadership Team, representatives of our independent auditor, Ernst & Young LLP, and Peter Descovich of Broadridge Financial Solutions, who will serve as the Inspector of Election. I now call the 2024 Annual Meeting of Shareholders to order. I would like to remind you of certain procedural matters relating to today's meeting. First, this meeting is being held pursuant to a notice dated April 24, 2024. On or about that date, each shareholder of record, as of the close of business on April 15, 2024, was sent either a notice of internet availability of proxy materials or the proxy materials themselves. An affidavit of mailing these materials has been filed with the company records.
Second, based on the information from the Inspector of Elections, Broadridge Financial Solutions, approximately 960 million shares, constituting 84% of GM's outstanding common stock, are represented at the meeting in person or by proxy. Accordingly, we have the required quorum to proceed with the meeting. Third, the polls are open for voting online during this meeting. All shareholders entitled to vote at this meeting may do so by clicking the Vote Here button at the bottom of your screen. The polls will remain open until we have concluded the official portion of the meeting. Since the items of business and nominations have been moved and seconded, and the requirements for holding today's meeting have been met, I declare that the meeting has been duly convened and may be adjourned at any time if necessary.
The meeting agenda lists all items of business to be considered, including the election of directors. On behalf of the board, I now move these items of business and nominate the board's nominees for election. Mary Barra, who acts as proxy for all shares that have been voted thus far, seconds this motion. Now, as the agenda outlines, we have seven, seven items of business on the ballot for today's meeting. The first item of business is the election of 12 directors. Each year, the shareholders elect directors to serve for the coming year until their successors are elected. The board's director succession and refreshment strategy is designed to ensure that your directors bring diverse viewpoints, possess a variety of skills, professional expertise, and backgrounds, and effectively represent the long-term interest of shareholders.
On the ballot this year are the following nominees: Mary Barra, Chair and Chief Executive Officer of General Motors; Patricia Russo, Chair of Hewlett Packard Enterprise and our independent lead director; Wesley Bush, Retired Chairman of Northrop Grumman; Joanne Crevoiserat, Chief Executive Officer of Tapestry, Inc.; Linda Gooden, Retired Executive Vice President of Lockheed Martin; Joseph Jimenez, Co-Founder and Managing Director of Aditum Bio; Jonathan McNeill, Co-Founder and Chief Executive Officer of DVx Ventures; Jami Miscik, Senior Advisor of Lazard Geopolitical Advisory; Thomas Schoewe, Retired Executive Vice President and CFO of Walmart; Mark Tatum, Deputy Commissioner and Chief Operating Officer of the NBA; Jan Tighe, Vice Admiral, U.S. Navy Retired, and Devin Wenig, Co-Founder and CEO of Symbolic.ai. Your board recommends a vote for each of the director nominees.
The second item of business is a proposal to ratify the Audit Committee's selection of Ernst & Young LLP as the company's independent registered public accounting firm for 2024. You can read more about this proposal, including the audit fees and services and the Audit Committee's pre-approval of policies and procedures in our proxy statement. Your board recommends a vote for this proposal. The third item of business is an advisory vote of the compensation of our named executive officers. You can read more about the compensation of these individuals and our compensation programs in our proxy statement. Your board recommends a vote for this proposal. Item four on our agenda is a shareholder proposal requesting report on the use of child labor in connection with electric vehicles. I understand that Steve Milloy will present this proposal. Mr. Milloy will have three minutes to do so.
Operator, can you please open Mr. Milloy's line?
Mr. Milloy, your line is now open.
Good morning, shareholders. My name is Steve Milloy. I am here representing New Breeze. Last year, GM lost $2.5 billion on its EV business. As bad as that is, it's not close to being the worst part. The money-losing EV business depends on African child labor in the Congo. As many as 40,000 poor children work in mines, where every day they descend into dangerous below-ground caves to mine for cobalt by hand. If they survive, they sell the cobalt to whatever the local communist Chinese buyers decide to pay. The cobalt is then sent to communist China, where it's processed for the batteries that go into the EVs that are the multi-billion dollar losing business for GM. And GM does not deny that child slave labor is involved in the production of cobalt. It just whitewashes it.
You will undoubtedly hear GM say that it has a zero-tolerance policy for child slave labor, and that GM suppliers sign agreements not to use child slave labor, and that GM belongs to NGOs and trade associations supposedly working to ensure there is no child slave labor in the supply chain. Finally, GM will say that it's being transparent about all this. While those policies may be in place, they are all talk, and that talk is cheap and false. The fact remains that cobalt from child slave labor is part and parcel of every EV sold by GM, and GM is in fact doing nothing about child slave labor in the Congo except exploiting it. GM's zero tolerance claim is just a fig leaf hiding a brutal and inhumane reality. Novelist Joseph Conrad had it right.
The Congo really is the heart of darkness, and neither GM nor any other Western company or NGO has any control over what happens in the Congo. Thanks to the corrupt Congo government and its communist Chinese overlords, Western standards of decency and humanity have no chance of penetrating the curtain shrouding the cobalt mines and their child slaves. We've all heard of blood diamonds. EVs are blood batteries. Adding shareholder insult to these crimes against humanity, recall that GM is losing billions of dollars selling EVs made with blood batteries. It's no wonder GM isn't having this shareholder meeting in person. Embarrassed CEO Mary Barra and the board of directors would be forced to respond to this statement in person, in real time, and before appalled shareholders staring at her in disbelief.
We are asking GM to honestly report to shareholders on the extent to which its EV business depends on child slave labor. We would expect the answer to be 100% reliance, which would be 100% more honest than GM's whitewash and its fake zero-tolerance policy. Vote yes on item number four. Thanks for listening.
Thank you, Mr. Milloy. For the reasons indicated in our proxy statement, the board recommends that shareholders vote against this proposal. Item five on your agenda is a shareholder proposal requesting the company eliminate EV targets from incentive compensation programs. I understand that Luke Perlot has provided pre-recorded remarks, which we will play now.
Good morning. My name is Luke Perlot, and I am presenting proposal number five for the National Legal and Policy Center. General Motors is a storied automaker with a legacy of leading the automotive industry in innovation and market presence. However, under the leadership of CEO Mary Barra, the current executive compensation framework, which heavily incentivizes electric vehicle production, is misaligned with the market realities of electric vehicles and the best interests of GM shareholders. Mary Barra has championed a climate policy based on the so-called scientific consensus. This popular narrative suggests there will be imminent catastrophic effects to the environment and to humans from carbon emissions unless drastic changes are made, such as a wholesale shift to electric vehicles. However, this narrative has become highly contested. Such dire predictions have failed to materialize, and the models predicting future climate scenarios significantly overestimate the impact of carbon emissions.
Furthermore, the push towards electric vehicles comes with substantial economic, logistical, and ethical concerns. GM's strategy to heavily invest in EVs, influenced by the current executive pay incentives, may not align with genuine market demand or economic viability. Over 5,000 auto dealers signed an open letter to President Biden, warning that there is little demand for electric vehicles. Moreover, forecasts for GM's EV division do not show positive pre-tax earnings until potentially 2025. Further, GM has indicated that the push to grow its EV program is driven by the subsidies included in the controversial Inflation Reduction Act, yet these subsidies may ultimately be repealed under a new government in 2025. GM's focus should be on maximizing shareholder value by responding to real consumer demands and market forces, not by chasing subsidies for unprofitable ventures.
Additionally, the production of electric vehicles heavily relies on rare earth elements, which are predominantly mined and processed in regions with lax environmental regulations and significant human rights abuses. The extraction of these elements often results in severe ecological degradation, including soil contamination, water pollution, and deforestation, as well as health problems for the local communities. Moreover, the global supply chain for these elements is fraught with ethical challenges, notably the use of forced labor. And lastly, rare earth elements are almost exclusively processed in China, a geopolitical adversary of the United States. Despite the many issues with electric vehicles, Mary Barra and the rest of GM's executive team have continued to pivot the company's resources towards this unprofitable endeavor. The company's misguided executive incentives may be partially to blame, and they should be reevaluated. Thus, we urge our fellow shareholders to vote for item number five.
Production and supply chain. I understand that Elizabeth Levy will present this proposal. Great.... Item six on our agenda is a shareholder proposal requesting a report on the company's use of deep-sea mined minerals in its production and supply chains. I understand that Elizabeth Levy will present this proposal. Ms. Levy will have three minutes to do so. Operator, can you please open Ms. Levy's line?
Ms. Levy, your line is open.
Good morning, Chairman, members of the board. My name is Elizabeth Levy, representing As You Sow, speaking on proposal number six. We know more about the surface of Mars than we do about the bottom of the ocean. Even so, a new industry is moving forward to exploit the deep sea. We believe this industry poses risks to GM now and into the future. Deep-sea mining is the process of dredging the ocean floor to extract battery-related minerals. It will indiscriminately destroy habitats. It will obliterate life in its path and has the potential to wipe out entire species. Deep-sea ecosystems are slow-growing and fragile, with little to no ability to recover from outside disturbance. Plans are moving forward to launch the process for commercial-scale deep-sea mining, with or without regulation.
Over 800 marine science and policy experts, 25 countries, 72 indigenous groups, and 48 companies are calling for a ban, moratorium, or precautionary pause on deep-sea mining. This includes GM's competitors, BMW, Renault, Rivian, Volkswagen, and Volvo. GM has failed to take such a clear stand on deep-sea mining. In May, GM released its annual sustainability report, which ambiguously states the company supports the creation of a single common standard for deep-sea extraction and is working with respected third parties to make science-based evaluations. This not only falls short of GM's competitors' commitments to a deep-sea mining moratorium, but falls short of GM's own proxy statement in opposition to this proposal.
There, GM is unequivocal in its statement that given the scientific uncertainty to date, GM has not invested in deep-sea mineral extraction, and that it does not currently use or have plans to use deep-sea minerals in its supply chain, unless and until sustainable third-party standards are developed. Publishing a similar policy in GM's sustainability report will clarify expectations and reduce reputational harm to the company, assuring customers and investors that it will indeed wait until science shows deep-sea mining activities will not cause significant or irreparable damage. GM's public stance on deep-sea mining matters. Given GM is the largest U.S. automaker, the company's failure to establish a position could drive investment in this controversial industry. Conversely, a clear stance restricting its use of deep-sea minerals could drive innovation in battery mineral tech, recycling, and circularity.
With these technologies, even the most ambitious future EV use scenarios could be met without harming the deep sea. Thank you.
Thank you, Ms. Levy. For the reasons indicated in our proxy statement, the board recommends that shareholders vote against this proposal. Item seven on our agenda is a shareholder proposal requesting a report on sustainability risks in the company's supply chain. I understand that Andrew Shalit has provided pre-recorded remarks, which we will now play.
Thank you. I'm representing Green Century Capital Management as the sponsor of proposal number eight. We applaud GM's efforts to integrate sustainability into its operations and supply chain. However, the company is not fully addressing certain areas of material environmental risk. GM sources leather, rubber, and minerals for car interiors, tires, and EV batteries, which are associated with deforestation during harvest or extraction. GM does not disclose the areas from which it sources forest-linked materials or discuss how it mitigates potential deforestation impacts. NGOs have published reports indicating that automakers, including GM, are at significant risk of contributing to deforestation in the Amazon as a result of cattle raising, and in areas of Southeast Asia and Africa that are home to rubber tree farms and plantations. In addition, surface mining of minerals that GM sources, either directly or contained within EV batteries, may be associated with deforestation in Indonesia.
Therefore, our proposal asks GM to address its deforestation risk by adopting best disclosure practices, annually reporting actions it's taking to mitigate its risk, and developing a near-term target for eliminating deforestation from its supply chain. Our proposal also asks GM to address potential supply chain constraints associated with low-carbon primary steel and aluminum. Today in the United States, not one ton of primary steel or aluminum is manufactured. Even though the recent U.S. Department of Energy awards to Cleveland-Cliffs and Century Aluminum will help jumpstart production of low-carbon metals, demand for these metals will likely far outstrip supply. And although GM has partnered with manufacturers to purchase low-carbon steel, their steel primarily comprises recycled steel, which has a much lower carbon footprint than primary steel used in automotive applications.
We believe the company could benefit by joining initiatives like Responsible Steel and the Aluminum Stewardship Initiative, organizations that support expansion of low-carbon primary steel and aluminum production. GM could also enter into MOUs with domestic suppliers that are looking to transition to low carbon products and help accelerate deployment of the wind, green hydrogen, and other renewable fuels needed to power sustainable steel and aluminum production. Finally, we believe GM has the responsibility to its investors and stakeholders to develop, disclose, and implement plans to limit negative impacts associated with the materials it sources. Adoption of the measures outlined in the proposal will help assure investors that GM has a comprehensive plan to address these risks and protect long-term shareholder value. Therefore, we request a vote for our proposal number eight.
Thank you, Mr. Shalit. For the reasons indicated in our proxy statement, the board recommends that shareholders vote against this proposal. This concludes the items of business to be considered at today's meeting. As a reminder, if you are a shareholder entitled to vote and have not yet voted, or if you want to change your previously cast vote, please do so now by clicking the Vote Here button at the bottom right corner of your screen. In a few minutes, we will adjourn the official portion of the meeting and begin the business presentation and question and answer session. Before we do so, I will provide an attendance report and a preliminary report of voting. For today's meeting, approximately 100 shareholders and guests have logged in.
And now for the preliminary report of voting, which is based on a tabulation of proxies received prior to the start of this meeting by the Inspector of Elections. Following today's meeting, the Inspector of Elections will tabulate any votes cast during the meeting and certify and provide final voting results. We will report the final voting results when available on our investor relations website at investor.gm.com and in a filing with the U.S. Securities and Exchange Commission. Based on the preliminary report provided by the Inspector of Elections, for the first item of business, the election of directors, all of the company's director nominees have been elected. Directors received on average, favorable vote of 97% of the votes cast.
For the second item of business, ratification of the Audit Committee selection of Ernst & Young as the company's independent registered public accounting firm for 2024, the proposal is approved by 99% of the votes cast. For the third item of business, an advisory vote on the compensation of the named executive officers identified in the company's proxy statement, the proposal is approved by 58% of the votes cast. For the fourth item of business, the shareholder proposal requesting report on the use of child labor in connection with company's EV supply chain, the proposal is not approved. It has received only 13% of the votes cast. For the fifth item of business, the shareholder proposal requesting elimination of EV targets from the company's incentive compensation programs, the proposal is not approved. It received only 1% of the votes cast.
For the sixth item of business, the shareholder proposal requesting a report on the company's use of deep-sea mined minerals in its production and supply chains, the proposal is not approved. It received 12% of the votes cast. For the seventh item of business, the shareholder proposal requesting a report on sustainability risk in the company's supply chain, the proposal is not approved. It received 14% of the votes cast. As mentioned, we will provide the final voting results when available on our investor relations website and in a filing with the SEC. This concludes the official portion of the meeting, and I now declare the polls for voting closed and the official portion of the meeting adjourned. I will now review the process for the question and answer session that will follow our formal portion of the meeting and Mary's business presentation.
If you are a shareholder entitled to vote, you may submit a question at any time during the meeting by typing it into the Ask a Question field on your screen and clicking Submit. Alternatively, you can call 1-877-328-2502, once we announce that the question and answer session has opened, and press star one to be placed in the queue. I repeat, the number is 1-877-328-2502. We will answer a selection of written questions submitted online, as well as field live questions from the phone. We will now turn to Mary's business update, and then we will open up the meeting for shareholder Q&A.
Thanks, Craig, and let me welcome everyone to the 2024 GM Annual Meeting of Shareholders. Before I share a few thoughts about our company's strategy and performance, I want to acknowledge and thank my colleagues on the board. This highly talented and diverse group of individuals works tirelessly to help us refine the company's strategy and create shareholder value, and their advice and counsel has been invaluable as we transform and grow General Motors. Since our last annual meeting, I'm happy to report that the total shareholder value has increased significantly since our last meeting, thanks to improving execution, a higher dividend, and the value-enhancing benefits of the accelerated share repurchase program we launched in November. Throughout the year and during this proxy season, we have had the opportunity to meet with many of our shareholders to gain their perspective on key issues.
We remain committed to listening to our shareholders and being responsive to their concerns, and that includes today's advisory vote on our 2023 named executive officer compensation. The board believes the company has a strong compensation program that links pay for performance and enables the company to recruit and retain the best talent in the world. It will continue to seek your feedback this year as it evolves the compensation plans. I would also like to acknowledge Aneel Bhusri, who is not standing for re-election this year. We are grateful for Aneel's contributions to GM, particularly his insights on software and technology, and we look forward to the contributions he will make as a new member of the Cruise board.
At the beginning of the year, I outlined clear priorities for 2024 that are designed to build on our strengths and learn from the challenges we faced in 2023. As we approach midyear, I'm pleased with our ICE performance, our progress in EV execution and growth, our new software organization's performance, and the steps we're taking to regain momentum at Cruise. Around the world, we are very focused on growth and profitability while improving capital efficiency, lowering cost, and building the best products we can for our customers around the world. All of our product programs are benefiting from the end-to-end improvements we've made in software, including the increased rigor we have instilled in our quality and validation processes. As a result, we are off to a strong start. During the first quarter, we grew total company revenue by 8% year-over-year to $43 billion.
Over the last 24 months, we have achieved consistent revenue growth, resulting in a CAGR of more than 15%. We delivered double-digit EBIT margins in North America, and our dealers in the US translated rising production into a 21% year-over-year increase in retail deliveries for our EV portfolio. At Cruise, the team is back on the road, beginning supervised autonomous driving in Phoenix. During this phase, Cruise vehicles will drive autonomously with a safety driver present behind the wheel to monitor and take over if needed. This is a critical step for validating our improved self-driving system and building upon the more than 5 million driverless miles we have logged before our pause. A special thanks to Craig Glidden and Mo Elshenawy for stepping up in the last year at a critical time and providing strong leadership to the team at Cruise.
The entire team at GM and all of our stakeholders are leaning in to keep our momentum going, which helped give us the confidence to raise our full year 2024 guidance for EBIT adjusted, EPS diluted adjusted, and automotive adjusted free cash flow. Supporting our outlook are key ICE launches around the world, including the Chevrolet Spin and the S10 in South America, the Chevrolet Equinox and the Buick GL8 plug-in hybrids in China, and the Chevrolet Traverse, Equinox, Tahoe, and Suburban, as well as the Buick Enclave and the GMC Acadia in North America. We also have the unbelievable Corvette ZR1 coming. At the same time, we're seeing profit improvement in our EV portfolio as we scale production of the broadest EV portfolio on the market, a portfolio purposely built to win new customers.
For example, the Chevrolet Equinox EV is one of the most affordable EVs you can buy with more than 300 miles of range. Cadillac is increasingly well-positioned with the LYRIQ, OPTIQ, and ESCALADE IQ, which is important because luxury buyers are adopting EVs faster than other customers. We believe the Chevrolet Silverado EV and the GMC Sierra EV are the best all-around EV pickups you can buy with more range and towing capability than the competition. Nothing even comes close. Like everyone, we are watching EV demand in the U.S. closely because the pace of adoption has slowed, but we still expect that 2024 will be a record year of EV sales, continuing a strong growth trajectory.
In the first quarter, retail EV registrations were up 9% year-over-year, and third-party forecasters expect that the EV share of the U.S. industry will be about 10% in 2024, or about 1.6 million vehicles. We believe we have the right products and strategy to win with customers and grow our volume and market share. However, if the EV market develops more slowly than expected in the near term, we will be nimble and adjust our production to meet demand. Before we turn to the Q&A portion of the meeting, I would like to specifically address several of the items that are in the proxy statement that directly relate to our strategic priorities and the company's EV transformation. For example, one of the shareholder proposals asked the board to eliminate EV targets in our incentive compensation programs.
As Craig reported, the vast majority of shareholders rejected this concept. I want to emphasize our commitment to grow our EV business profitably. As you know, the board did redesign the compensation plans for 2024, and I believe these changes are already helping us drive execution and attracting new talent. We remain on track to achieve variable profit for our EVs in the second half of this year, and we continue to target low to mid-single digit EBIT adjusted margins in our EV portfolio by 2025, including the benefits of the clean energy tax credits. Other shareholder proposals focus on our EV supply chain policies and practices. GM follows sustainable and ethical practices throughout our entire global supply chain as we advance our strategy to make all-electric, zero-emission vehicles more accessible and affordable for everyone, and we can't do it alone.
That's why our sustainability strategy prioritizes the development of a secure, resilient manufacturing and supply chain ecosystem in North America for EV growth. We started with investments in our own EV manufacturing and then worked back through the entire supply chain, from raw materials to processing and components. GM and supplier investments are creating jobs across the U.S. and Canada, and our direct investments in key areas like lithium mining and cathode active material production will provide us with significant offtake and favorable commercial terms. These initiatives are critical to reducing risk and fostering innovation... and they benefit consumers as well. For example, all of our EVs under the MSRP cap currently qualify for the full $7,500 Clean Energy Consumer Purchase Tax Credit.
This is not just good policy. It's good for business, good for the company, for employees, and for recruiting and retaining the best people, people who will help us achieve our vision. I invite you to read our 2023 sustainability report to learn more about the progress we've made last year in advancing our EV programs and enhancing the sustainability of our supply chain. I recognize balancing the issues addressed in our proxy statement is complicated and requires we all work together. I have asked our investor relations, legal, and sustainability teams to maintain their regular dialogue so we can resolve issues together and find common ground. I will conclude my remarks by reiterating what I said at the start. Executing our transformative agenda takes experience, skill, and collaboration, both at the company and board level.
I am confident that we have the right team and the right strategy to drive significant opportunity for you, our shareholders. We will succeed because of our great vehicles, industry-leading customer loyalty, and the dedication of all of our employees. Thank you for your confidence in GM. We'll keep investing in opportunities that deliver long-term shareholder value and create a better world for future generations.
Thanks, Mary. We'll now open up the meeting for questions from shareholders. During today's question and answer session, we will be taking a mix of written questions submitted through the virtual annual meeting portal and live questions over the phone, if any. Where multiple questions cover the same or similar topics, we will provide a single question and answer to avoid repetition. If you plan to ask a question over the phone, please limit your remarks to two minutes. If you are already dialed in, simply hit star one to be placed into the queue. If you're viewing the meeting online and wish to ask a question over the phone, dial 1-877-328-2502 and press star one to be placed into the queue.
Please also be sure to mute your computer or other device you are using to listen to the meeting while asking your question to avoid noise or feedback. We'll start things off with a written question that we received through the virtual meeting platform. The first question is: Recent market trends seem to indicate that EV sales are slowing compared to their ICE and hybrid counterparts. What action, if any, is GM taking to assist with consumer adoption?
Thanks for that question. We anticipated there would be ebbs and flows in EV adoption, and we are well-positioned to offer customers a diverse and desirable portfolio of ICE, ground-up EVs ramping up now and plug-in hybrids coming in 2027 to match supply with demand to ensure we remain competitive. In fact, May was GM's best month ever for EV sales in North America, and we believe our Ultium platform, with a dedicated EV architecture, will help us earn new customers with great design, capability, and range. They are also competitively priced. We took steps starting a number of years ago to build a North America and Free Trade Agreement partner-focused EV supply chain that enables eligible customers of all of the EVs we are producing now under the MSRP caps to qualify for the $7,500 Clean Energy Tax Credit.
The Equinox EV being delivered to dealers now is a great example. We hear from everyone that affordability and range are two of the biggest barriers to EV adoption. Most, if not all, of our competitors make you trade one for the other. This is not true with the Equinox, the most affordable long-range EV in the market. It's a true five-passenger SUV with great design, roominess, and technology. It has an estimated range of 319 miles on a single charge, 60 to 100 miles more than some EVs that cost thousands more. With the $7,500 Clean Energy Tax Credit, the Equinox will be available later this year for as little as $27,000-$28,000. That's several thousand dollars less than many hybrid compact crossovers you'll spend, and you'll spend $0 on gas.
The Chevrolet Blazer EV is another great EV. It was named 2024 SUV of the Year by MotorTrend, and it's available at dealers now. The Chevrolet Silverado EV RST pickup is also available at dealers now, and we were able to increase the range of the RST to an estimated 440 miles. That's more than the median range of ICE vehicles. No EV pickup on the road today even comes close.
Thanks, Mary. Let's take another pre-submitted question. One shareholder asked whether GM has considered putting chargers at every McDonald's, and several others have asked more broadly about our EV charging infrastructure.
GM continues to accelerate the installation of convenient and accessible public fast charging, and it's continually improving. Almost 600 public fast charging stations came online in Q1, up 8% from 2023. There is now almost 8,200 fast charging stations across the country, or one for every 15 gas stations. We're working with 12 charging networks, and GM EV drivers have access to approximately 174,000 chargers and growing throughout the U.S. and Canada. Here are a few highlights of our efforts on public charging. With Pilot Flying J and EVgo, we're installing 1,000 DC fast chargers at 500 locations. 33 are now open, with 200 more by year-end. These are designed for road trips on major highways, with fast chargers under a well-lit canopy and amenities like restaurants, convenience stores, restrooms, and lounges.
We're working with EVgo to install 3,250 more DC fast chargers in the nation's top 50 metro areas. About 1,000 of those are active now. We're part of a joint venture with six other automakers, installing at least 30,000 additional charging stations across North America. We've reached an agreement with Tesla, giving our customers access to about 15,000 Superchargers, with availability starting this year. Our team is also delivering solutions that help our EV drivers charge at home and leverage their EVs as a home power source through bidirectional charging. Customers in California, New York, Florida, Michigan, and Texas are now able to purchase GM Energy V2H bundle, which enables energy to transfer between a customer's EV and their home. We recognize how important charging is to unlock future and further EV growth.
There's certainly more to come here, as home and public charging continually improve.
Thanks, Mary. We don't have any questions on the phone, but we did have some that have been coming in during the meeting. So the first one comes from Greg Neff. He says, "GM recently announced that the company was no longer pursuing a goal of eliminating the production of internal combustion engines by 2030 for Cadillac. This is great news for many motorists who are not excited by EVs, but is this just a temporary thing, or will GM continue to resist the political pressure to impose electric vehicles on the public?
We have a great lineup of gas-powered, or what we call ICE vehicles, that are available right now, and we have a great lineup of EVs, that will continue to grow, and we'll be covering the portfolio from a segment perspective and a range perspective of pricing, design, et cetera. So we believe we're well-positioned, and we will be customer-focused as we go through this transformation.
Thanks, Mary. Let's do one more that has just come in. This one is from James Lane, asking, "Is it possible to open the GM Heritage Center one or two days a year to shareholders? Those of us who are shareholders, but also lifelong fans of GM vehicles, would appreciate the opportunity to view this fantastic collection.
Well, I really appreciate your enthusiasm in our Heritage Center and the vehicles that are there. It is always a special day when we get to spend time there. We are in the process of moving its location so we can showcase more of the vehicles. So I will follow up with the team to see if that's possible. But thank you for your interest and passion for our vehicles.
Thanks, Mary. Let's go back to a pre-submitted question received ahead of the meeting. A shareholder would like to know about the plans to further continue expansion of Super Cruise on our vehicle portfolio.
We have had a continuous improvement and methodical expansion of Super Cruise, and we'll continue to expand to more roads, more vehicles, and improve capabilities. Since launching, GM customers have driven more than 190 million miles with Super Cruise engaged and have helped make it the largest, truly hands-free system in the U.S. and Canada. There are now 15 U.S. nameplates offering Super Cruise, and we have added more miles with approximately 750,000 miles of compatible roads that will be available by the end of or by early 2025. We are earning more than $2,000 in revenue for every Super Cruise-equipped vehicle we sell, and we're expanding availability to vehicles like the Chevrolet Traverse, and we have made great progress reducing the cost of the system, which opens the door to further scaling.
We have the opportunity to collect about $25 a month or $250 a year subscription fee, which will go beyond the first owner of the vehicle. So again, I'm really pleased with what we're doing with Super Cruise, and we look forward to continue to enhance it and expand it.
Thanks, Mary. So, we have time for one more question, and we did get one over the phone. So, we will take the question over the phone. Operator, please open the line.
Thank you. Our question comes from John Green. Please proceed.
What is the price for the ICE sports utility vehicle and all full-size Chevy pickup trucks? It should have a price for the ICE pickup trucks. What would that price be?
Specifically, I mean, there are a range of prices for full-size trucks, depending on if they're the Chevrolet Silverado version or the GMC Sierra version. So we offer at many different price points, so it's, I can't really give you one price, but if you go to gm.com and look at, or chevy.com or look at GMC on our website, you will see the range of prices, available.
Thanks so much. So that's all the time we have for questions. Thanks to everyone who dialed in or submitted questions today. I'll now turn it back over to Mary to deliver a few closing remarks.
Well, I want to thank everybody that joined us today, and I want to thank you for your questions. I can appreciate your continued support of and investment in General Motors. Now, before I depart, I want to leave you with the inspiring words of Michigan's Poet Laureate, Nandi Comer, who recently captured the spirit of our efforts to drive the future of innovation and mobility during a celebration to announce General Motors' new global headquarters. The future Hudson's Detroit office building, where we'll be coming the signature tenant in 2025, will mark our return to Woodward Avenue, where we were headquartered from 1911 to 1923. I'm excited to enter a new chapter of GM history, and we'll have many more details to share in the coming months.