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Welcome everyone to Gateway Colorado, a gorgeous part of the country that is also one of the world's premier off roading meccas. We hope you tuned in last night to the video reveal of our all new revolutionary GMC Hummer EV, a first of its kind super truck developed to forge new paths with 0 emissions. The HUMMER EV is the ultimate expression of performance consumers will bring their Hummer EVs. So there's no better place in the world to show off its go anywhere, do anything mobility. The HUMMER EV is also a perfect fit for GMC.
It epitomizes the innovation and engineering excellence that have served as the foundations of our brand for well over a century. It is bold, capable and precisely crafted and provides truly remarkable on and off road capability along with a quiet all electric propulsion system all packaged in a design that takes luxury to new heights. Today, we want to take you deeper into the GMC HUMMER EV story, including its design, EV battery system and off road capability. Along with me here today and back at GM headquarters in Michigan are many of the men and women who've passionately collaborated to bring HUMA EV to life. Today, they're excited to share their stories and inspirations to help you understand and appreciate all that's gone into creating this revolutionary Super Truck.
So let's start things off where it all began by exploring exactly how HUMMER EV came to be and why our design and engineering teams were incredibly eager to take on this challenge.
I've been a part of the GMC Heavy Duty Truck Team since 2001, and the first thing you learn is that truck customers accept no compromises, And the GMC customer takes that attitude to the next level. We took that no compromise attitude when assembling our team of experts to design, engineer, validate and build the HUMMER EV. And it's not just a team of experts, but of passion. And this passion has created the most capable factory truck we ever produced. It is an absolute beast.
Our engineering team never took no for an answer, and neither did the design team.
To design an all electric Hummer EV is a once in a lifetime time opportunity, but it's also a huge challenge. Let's face it, there are no shortages of opinions about this truck. That was a task laid before us. How do you design something so instantly recognizable, yet challenge everything we know about it? Flip it on its head.
The performance team that had worked on the CA Corvette transitioned to this project and from the start we basically worked around the clock. It was a true collaborative effort between all of the design teams.
We had a unique opportunity. Create something instantly recognizable while challenging everything you know. Bringing this truck to life as a 0 emissions, 0 limits electric super truck. How do you blend the familiar with the premium features of the new? How do you create a dramatic sense of scale and unmatched presence that is also tech forward and tough?
The HUMMER EV, it's both rugged and approachable. It's perfect for any adventure. The overarching design language, it's technical, capable and it's contemporary. The HUMMER EV profile, it is unmistakable with off road proportions and a wide stance. The headlamp lighting, it's premium, it's high-tech and It's also expressive when charging and at walk up the vehicle comes alive.
Our exterior color has a refined but impactful presence. Our goal was to provide a strategy that embodies the look and feel of modern adventure. Our colors and materiality are technical in feel and utilitarian in execution. For our exterior, we have high gloss uppers, a striking white body color, and lowers with a subtle metallic fleck. With bright and dark finishes, our badges complement the visual contrast within the exterior and the interior.
As a vehicle that is intended for exploration on all sorts of terrains and environments, our infinity roof and sky panels provide you the opportunity to experience your adventures with a panoramic view. These panels are transparent as well as removable, so you can configure your roof and sky panels to best suit your journeys. And best of all, the sky panels easily store in the frunk. With the engine no longer in the front of the vehicle, the compartment ahead of the cabin is now a convenient storage area.
The MultiPro tailgate is essentially 2 tailgates in 1. Raising and lowering these 2 tailgate panels in a different combination allows MultiPro to take on a variety of different roles. And it fits right in with the GMC truck family.
Our Lunar Horizon interior featured here in Edition 1 has high contrast color blocking in sky cool gray and jet black, and striking decor in a tech bronze metallic finish. This interior leverages the opposition of warm and cool tones to create an environment that is truly unique, bold, but harmonious. It is both purposeful and highly technical and the analog toggles are blended with a digital cinema like user interface.
I think the first thing people are going to notice inside the interior of the GMC HUMMER EV are these large floating displays. We have a 12.3 inches instrument cluster, a General Motors first 13.4 inches touchscreen as well as a secondary display that's specific for climate controls. Our interface on these displays are very robust and you can custom tailor them to your desires. We have multiple layouts you can choose from the instrument cluster as well as zones inside there that you can change if you want. And then in the touchscreen, the 13.4 inches gives us a large enough canvas to be able to do 2 applications at the same time.
The interface for this experience, it's a blend of sophistication and attitude with these technical science fiction graphics that look like they're floating on top of a lunar terrain. The interface itself will evolve throughout the day, really dramatic and moody at night. But then during the day, you get a really bright, clean interface that give you the best contrast and visibility. The motion and 3 d graphics in this system is unlike anything you've ever seen in a vehicle before and it's made stronger by our partnership with Epic Games using the Unreal Engine. When we look specifically at the touchscreen area, we're offering an unprecedented amount of information for off road enthusiasts and something that's really unique to that is this ProView to give full screen access to 3 different customizable widgets as well as integrating that with our virtual auxiliary switches that you can customize the name of, as well as change the iconography to really make it your own.
In addition to the incredible design elements, in order to bring this revolutionary super truck to life, we knew that we also needed to have groundbreaking EV technology under the skin.
I remember the first time I drove an electric vehicle. Since that moment, I've been convinced that EVs are the way of the future. I've subsequently led the charge that not only can you have an awesome vehicle that rivals its internal combustion counterparts, but one that massively raises the bar while creating a more sustainable future. It's simply a better experience. Instant torque, crazy power, ultium fast charging capability.
And the structure is now 1 with the propulsion system, enabling a stronger, more efficient
and
safer truck. The GMC Hummer EV is a super truck that will change perceptions about what an electric vehicle is, and it'll lead us all into a zero emission future.
I'd like to introduce you to the HUMMER EV. Now this is the first vehicle to use GM's Ultium platform. This platform gives you the energy to go anywhere you want to go and most importantly the torque to climb over any obstacle that may be in your way. The heart and soul of this system is a 24 module, double stack battery system.
The sheer power of the Ultium battery pack enables off road and performance features that will really set us apart. And we can cool and control these batteries with our architecture for even more performance from special modes like Terrain to Watts to Freedom. But I think the coolest part of the Ultium system is that it has the industry's first wireless battery management system, which debuts on the HUMMER EV. And the speed and robustness of communications really sets it apart from a wired system.
And the Ultium
platform takes this technology and creates something that we like to call universal charging. And the
Ultium platform takes this technology
and creates something that we like to call universal charging. We can charge just about anywhere. You can go all the way up to 800 volts and 350 kilowatts on a DC fast charge. This will actually get you about a 100 miles charge in only 10 minutes.
But Tim, why do I even need that? With 350 miles of range, that's more than enough to get me to any of the major off road trails at national parks where I can go mountain biking or
And one
of the neat features here is that when you're up high on a hill and you're coming down the hill to get home, we'll actually generate electricity on the way down. And all this happens through the Ultium drive units. The motor in the front is actually combined with a locking differential for the rock crawling. The rear motors can work in concert with that independently on the driver side versus the passenger side to give you real control and torque vectoring. Now with all this capability, you have to make sure that no matter what, these systems are durable.
And you have to control all of this torque and all of these different modes of operation with confidence.
And our pure EV propulsion system also holds torque for much longer and through a wider range of speeds than even diesel engines, which is great for both on and off road.
The HUMMER EV will be the 1st GMC to offer Super Cruise. The hands free driver technology that works on over 200,000 miles of highways in North America. And remember I said 0 compromise? So with that in mind, we've added automatic lane change. And to bring the HUMMER EV and the outside world together is our eAssist app.
This allows monitoring of the vehicle's energy usage, along with setting up a charging schedule, conditioning the battery temperature on the way to the charging station, and teaching you how to drive more efficiently to maximize your range and more. All of these cutting edge EV technologies are aimed at one goal, to deliver the ultimate expression of off road capability and performance.
Setting a goal to build the most capable factory truck ever required us to handpick a team of GM's most talented and most passionate off roaders to bring their experience to this program. This team helped develop and build the innovative features and technologies from firsthand experience, which allow HUMMER EV to conquer virtually any obstacle or terrain. Todd Hubbard and Aaron Pfau live and breathe off roading and rock crawling outside of work. And now, thanks to HUMMER EV, they can also do it at work as well. Mike Colville, who is an experienced off road racer, is also a member of our engineering team.
Together, these off road experts and our team back home in Detroit brought their years of incredible adventures and knowledge to the HUMMER EV. Mike, we've been together since day 1, 18 months ago, and it's great having you as part of the team. Tell us a little bit about your background and what it brought to the table for HUMMER EV.
You know, I've spent a ton of time in Johnson Valley, California, supporting and racing in the King of the Hammers and applied a lot of what I learned into making the HUMMER EV even better than what I raced in many ways. A great example is a time I was racing up outer limits and I broke a half shaft when I was turned hard to the left and accelerated really hard. That was on me. When I started working on the Hummer EV, we created an algorithm that not only adds more power to the wheels when they're straight, but also protects the half chefs when they're turned sharply.
Well, Mike, I know another important part of racing is being able to lock the differentials. What did racing teach you that influenced HUMMER EV development?
Yeah, you know, our race vehicles also did have lockers and knowing when to use them and when not to use them is very important. So we brought that into the HUMMER EV by integrating a front e locker into our terrain mode to help the customer. We also have a rear virtual locker that controls the wheel spin of the rear wheels. It's pretty amazing. Well, Mike, you've certainly encountered your fair share
of tough obstacles over the years. How will the HUMMER EV's 4 wheel steering and crab walk help customers navigate through tight places?
Yeah. You know, prior to my racing, I started out in rock crawling. And I actually had a vehicle that had 4 wheel steer. So what we did is we created multiple steering modes on the Hummer EV including crab walk to make that a lot easier for the customer and more intuitive to navigate tight places.
Crab walk is an awesome which will which will make it very easy to pull into a parking spot. To give you a perspective, it has a tighter turning circle than a Tesla Model 3. Aaron, tell us a bit about your off road experiences and the example we talked about earlier.
I love challenging myself on trails. On a recent trip to Windrock Park last June, I had to navigate a turn with a very aggressive side slope combined with about a 5 foot vertical wall. Thankfully, I got out with only a cracked tail lamp. But I knew at that moment, if I had the ability to steer the rear of the vehicle, I could have crab walked through that thing completely unscathed. Well, we've created exclusive purpose built features to
help our HUMMER EV customers tackle any terrain. Thanks, Aaron. Okay, Todd, why don't you speak of some of the incredible vehicle stats that really give the HUMMER EV its serious off road capability.
We have ground clearance of 15.9 inches and approach angle of 49.7 degrees and a departure angle of 38.4 degrees. Vertical wall climb greater than 18 inches and water fording capability 32 inches.
One of the HUMMER EV's amazing features is its available extract mode, which provides up to 6 inches of additional suspension lift. Well, and it's not just about getting out of the toughest situations. It's also about confidently being able to tackle just about any type of low speed off road terrain.
The team has done a great job taking our drive modes to the next level. Terrain mode and off road mode specifically will be huge enablers in technical rock crawling, higher speed desert running, and everything in between.
We also spent a lot of time working on the acceleration response to make the truck very precise in technical situations. It gives you access to the 11 1,500 pound feet of torque when you really need it.
Well, I'm sure you have many experiences going over punishing terrain where the sound of rock scraping against the undercarriage makes you cringe, right?
You're absolutely right, Al. The team has done an incredible job protecting the HUMMER EV with its underbody armor. We also have underbody cameras, which can actually help you navigate around or above those big obstacles. With all our live camera feeds, it's like having a virtual spotter right inside the truck.
Well, all these features we talked about also translate into the HUMMER EV being an awesome beast on the street as well. And those of you that know me, know my passion for performance oriented vehicles. But working on an EV has allowed our team to unleash capability we could only dream of before. So how do we harness this and unleash more than a 1000 horsepower and 11,500 pound feet of torque? 0 to 60 in 3 seconds is thrilling enough for any vehicle.
But how do we make it even more thrilling? Think of the way a roller coaster ride builds the anticipation. We wanted to generate those same feelings in the HUMMER EV, and we do, thanks to what we're calling watch to freedom mode. It's an interactive experience that engages the senses. The vehicle conditions its electronics and establishes the ride height for the lowest possible center of gravity.
At the same time, you hear this awesome 14 speaker Bose sound system belt out cool music and when the customer sees arm, your excitement reaches its peak. That's what Watts To Freedom is all about, delivering the unbridled acceleration only possible with an EV and completely unexpected for a vehicle of this size. So as fun as Watts to Freedom and going fast are, it's also about delivering exceptional ride and handling. Torque vectoring gives you a more balanced and seamless experience along with reduced body roll. Add to that precise steering control, along with 4 corner air suspension and 4 wheel steering, and the Hummer EV provides exceptional vehicle balance and control.
Well, guys, it's been an incredible 18 months bringing this vehicle to life and I couldn't have asked for a better team to work with than you and the rest of the team back in Detroit who are watching this and are as excited as we are. Your experience is second to none and it's the reason we're able to bring this revolutionary off road and on road Supertruck to life.
I hope you've been able to see just how incredibly excited and proud all of us are at GMC to bring this Supertruck to market. Our revolutionary Hummer EV is truly built for 0 limits.
Ladies and gentlemen, welcome to the GMC HUMMER EV Q and A session with General Motors Company. After brief opening remarks, we will conduct a question and answer session. As a reminder, this conference call is being recorded Wednesday, October 21, 2020. I would now like to turn the conference over to Mike Heifler, Director, Investor Relations.
Good morning, everyone, and thank you for joining us as we have the opportunity to dive deeper into the details of the awesome GMC HUMMER EV, the world's 1st all electric super truck with amazing off and on road performance and exclusive features and technologies designed to conquer any obstacle or terrain with excellent range and charging capabilities. Today, you will have an opportunity to ask our leadership questions about this remarkable electric vehicle. For our Q and A session, I'm joined by Mark Royce, GM's President and Duncan Aldred, Vice President of Global Buick and GMC. Before we begin, I would like to direct your attention to our forward looking statements. The content of this call will be governed by this language.
I will now turn the call back over to the operator to start the Q and A session.
Our first question comes from the line of John Murphy with Bank of America.
Good morning, guys. It's kind of hard not to get excited after seeing that video of trucks, really great. So congratulations on that. Mark, just a first question. As we look at sort of the price point here, obviously coming in at the very high end of the luxury truck market, if you will.
I'm just curious how long when you look at the Altium powertrain and your EV platform that you stay at these very high price points to justify the investment and how long it will take to really democratize the EV power over time? So is it like 2, 3, 4, 5 years that you're treating it as a true luxury product or is it potentially sooner than that?
That's a great question. And the pricing strategies, hopefully, you guys caught some of the pricing stuff that Duncan and his team and frankly everybody has worked very hard on. So the first one out of the chute is 112,600 and that's the Series 1 special edition, 3 motor deal, the whole package. After that, we move into other price points, 2 other price points that one's below $80,000 and the other one's below $90,000 as we roll out a couple of different 3 different packages. So just to make sure everybody's grounded on that.
The battery piece of this, I don't think we want to confuse the nature of the truck that we're introducing here, which is a super truck and you saw all the features and the price point, which has been very well researched and actually people were pretty excited about it last night. Duncan can give you some of those details. But I don't think we should be confusing the Super Truck price points with the LTM battery scale increase and decrease in the LTM packs themselves and then the cells. So this one happens to carry a lot of cells. It's a 24 module pack.
So it's a big boy type pack that delivers a lot of power, a lot of great things, including range. But as we move into sort of the higher volume entries here, the next one we've talked about is Lyric. You'll see a steady progression of those things as we bring our Lordstown, Ohio JV manufacturing activity up and running. We get the scale and when we deliver volume out of Factory 0 here in Detroit and then Spring Hill, you'll see the volume on the car itself, whichever car and whichever plant it's being made in. So I would say, if you're asking me, is it 1 or 2 or 3 or 4 or 5 years, I can say that we have a continuum of scale, efficiency and cost reduction that is very aggressive.
And there isn't big break points, but there are steady improvements in chemistry and controls. You saw sort of a wireless control system for the Ultium PAC. That's very progressive. That enables us to do lots of things in terms of really discovering how people use the vehicles that we produce, optimizing both the controls of those batteries, but also how many modules that we actually put into the packs for different vehicles can ultimately change and the modules and the new chemistries are backward compatible with all of our vehicles, which is a huge step. So if you think about it that way, it's probably the best way to think about it.
And then just the second question and Duncan this maybe for you or for you Mark. As you think about distribution network for a truck at this price point, I mean volume is going to probably be relatively low relative to a lot of your other products. So I'm just curious how the dealers are receiving this, how they're set up as you make this foray into selling this truck and more EV models over time and what they need to do to be ready for this both on the sales side and on the service side?
Yes, it's a good question. We've rolled this out on what we call a participation agreement, so not every GMC dealer will be selling the HUMIRA EV. To your point, the volume will be somewhat lower than, let's say, a mass market vehicle, and that's led to about half the dealer network electing to participate in selling the HUMMER EV. Obviously, with the speed and the security that we've gone forward with to this point, we've had to keep things very confidential. We've not really been able to divulge too much information to the dealer, and we'll be doing that early in the New Year as well.
And we may see a change to those numbers in terms of the number of dealers who choose to offer these. And that's fine because, obviously, our throughput will be important. But just again to pick up on Mark's point and the price points, we just launched the GMC Yukon. And at the moment, we're selling that on average for an average price very much in the high $70,000 range, just below the $80,000 point. And again, to Mark's point, this Hummer EV does begin at $80,000 So yes, whilst it's premium priced and whilst in the premium element of the market, we think there will still be meaningful volume and especially meaningful for the amount of dealers who've elected to take that participation agreement.
In terms of what they will have to do, there will be investment in special tools and obviously, the ability to charge a vehicle as well. And that could have a different cost structure for dealers depending on the type of electric power supply that got into their individual dealerships. So they're going through that evaluation now as we speak. They've got to do that during quarter 1 of between now and quarter 1 of next year. There will obviously be special training, and we're going to look to provide an exceptional customer experience as well.
And that's all coming together to what will be the HUMMER EV customer experience as we start deliveries.
Great. And if I could just sneak in one follow-up, Duncan, you said that GMC Yukon is at a somewhat similar price range or zip code. I mean, should we think about that as where the volumes might go for this new EV or the HUMMER EV when we look at the pickup and the SUV combined?
Well, we're not going to really specify volumes today, but I think with this 80,000 starting price, which was important to us, I think we'll get meaningful volumes. And again, I think it's a great statement for GM and for GMC and for the electrification of the industry as
all. Your next question comes from the line of Rod Lache with Wolfe Research.
Hi, everybody. I echo what Murphy said, truck looks awesome. Just I was hoping just to talk to you a little bit more broadly about your volume aspirations, not just for the truck, but just even bigger than that. You at one point talked about getting 1,000,000 units by 2025. And I think that when you said that, the thinking was maybe half of that would be in North America.
But you've got 20 models that you're working on and now at least 3 plants that are being converted. Is there the potential to exceed that targeted volume?
Look, I think from a corporate standpoint, we still stand by your first point, which is 1,000,000 units by 25,000,000. And what that mix is, is may change a little bit. So we're not entirely wed to X number of vehicles in North America or China or wherever, but because we are changing our portfolio and you can see how rapidly we can deploy some of those changes as the market continually changes. So we want to get as close to those changes and get that agility as we can, Rod. But we're definitely looking at the transition as some good growth opportunity for General Motors, as you see by the plants that we've just invested in.
So the plan is to do the great things we're doing today like Escalade, Yukon, Denali, Tahoe, High Country, all the utility pieces of that. And then the pickup truck volume that we have today, we're just constrained by frankly the capacity we have. But and you see some capacity increases in our ten speeds and in other places in our truck portfolio, but that's very strong and will remain strong and we'll keep investing in that as well. But this is really a growth opportunity for us. And if we do it in an agile way, which you can see some of our capacity spending, we're going to have the ability to do both.
And I think the way to look at it is really, this is investing in the growth of GM for the future and that's it. And so we stand by a lot of those except for maybe the mix, if that makes sense.
Yes. Thanks for that. And just secondly, there's been kind of a long standing debate about direct sales that some new entrants are pursuing in the market versus the franchise model. And it's interesting that at least here initially, you're allowing consumers to reserve the vehicle directly from you. So I'm just wondering if that is something that you plan to do more broadly?
And if that happens, does the model change a bit just because the dealer doesn't have to stock cars and does the relationship and margin kind of change over time?
Well, I think you probably read about it and Duncan spoke about it as well. The participation agreement that we have in place for the HUMMER EV that we're talking about today certainly allows some of those things and our dealers are really excited about it because if you look at some of the costs that are held traditionally across the industry, there's ways to reduce the costs that the dealer has to endure and also tighten up the efficiency of that model. But also, I think at the end of the day, the service and how do people really want to buy cars? There's not one way. There's a lot of different ways that people like to buy cars and it may depend on your age or your location or the vicinity to a dealer or the kind of vehicle that you're purchasing.
All those things are factors in that. I think if we really look at the waste that can be eliminated from a dealer cost standpoint in the system, Those are the opportunities I think that are really fantastic. And but we also want to have service network in place for our dealers that and our customers more importantly, for vehicles. And so so some of our competitors may have a direct sales model, but when it comes to the service piece of it, what is the long term answer to that? Well, we've got sort of the best of both worlds, but we have to get the waste in the system out of it.
I think that's where we're focused. Duncan, if you want to add anything to that.
Yes. Thanks, Bart. I think that's exactly right. I see this as an optimal solution. We're obviously adapting and learning a lot from the COVID world or the post COVID world.
I think we've just shown last night how we can reveal or launch a new vehicle in a remote way, in a different way and get massive impact. It was the number one search for term on Google yesterday, for example, in the whole industry or outside the industry, just on Google, record breaking views and hits on social media. So we can draw this mass awareness of a new vehicle launch with the reservation process. Again, to Mark's point, we have worked with the dealer. So whilst the customer can just go online in a very simple, quick, 4 step process, He chooses his vehicle, chooses his dealer, puts his information in, confirms credit card details.
Now that deposit is actually lodged with the dealer. And again, down the line, the dealer will firm that up as we get nearer to production. So again, just another example, I think, of really optimizing and using the dealer network as a competitive advantage. It does give us that customer experience and that aftermarket excellence that Mark talked about. It does give us the great geographical spread that we will need if we really want to fulfill our vision of a 0 emission future, where all over the country, people are buying and enjoying electric vehicles.
So again, we're learning a lot. We're implementing a lot. The dealers have proven to be great partners. And together, we're going to provide a very effective but really efficient solution going forward as well.
Great. Thank you. Your next question comes from the line of Adam Jonas with Morgan Stanley.
Thanks, everybody. I have a follow-up on distribution, then I have a question on labor and costs. On distribution, just following up on Rod's point on consumer experience, any way we can control or help make sure the consumer has a one price experience adjusted for levels of content and that kind of thing. And obviously, a dealer can give you whatever they want on a trade in. But I think one of the advantages that Tesla has, and I can just be upfront about it, is that when you do click 5 or 6 times on your iPhone or you do go to a store, you know you're not at that moment, that day, you're not going to pay a higher price than anyone else that bought the car at that moment for that exact type of car, right?
And they can push those updates to their channel and their websites pretty much instantaneously. And so it'd be a real shame if you made these wonderful investments in product and culture and technology and network, and then you still had this really kind of something that on a distribution side resembled a kind of Babylonian souk. It's no fault of your own. That's and listen, the consumers have been trained to do that. But you kind of see what I'm getting at.
Is there any way you could I'm not saying get a Tesla loophole in terms of the direct to consumer, but control that price because if you have these wonderful units out there going for $5 or $10 off depending on which dealer gives you what deal, that could be a real disaster. Any thought on that?
There's lots of thoughts on that.
Yes. You know what I'm getting at, Mark.
I just wanted to comment I
know exactly what you're getting at. It's a problem, right? Yes. Yes. It's a problem.
It can be a problem. It depends on the vehicle. It depends on the channel and depends on the dealer. But I can tell you with this vehicle, Duncan, why don't you tell them exactly what we're doing here because this is a shining example of what you just described.
Yes. So we understand the issue you raised completely. And when we basically reimagine what a vehicle could be with the HUMMER EV in terms of what it can do, We also said we have to reimagine what the customer experience is going to look like. And you highlighted one of the things that can be a potential dissatisfied for customers, and that's variable pricing or haggle pricing. So our ambition here and our objective here, it's more than an ambition, is that this vehicle, you've seen the prices that it's available on the Internet just below $80,000,000 $90,000 $100,000,000 for the 3 standard models.
And that really is the price you see is the price you pay. There will be no incentives there, so there will be no trickery. That is what we call a net price, first of all. Secondly, we are, again, working closely with our dealer partners, and we're trying to construct a dealer margin in such a fashion that, again, that it really is a no haggle price. So not only is it a net price free of incentives, so no incentives, but also when it comes to the dealer experience, it will be the price you see is the price you pay as well.
And we're also looking at our advertising standards, our advertising covenants of just how we go to market with this. And again, we can put various rules and regulations around that, which again will mean that you won't see price variability in terms of when a dealer may choose to advertise this product. And of course, we'll be doing the predominant amount of the promotion on this vehicle anyway. But what we should what all those things wrapped up should deliver is a very a one price experience for a customer from the brand, from the website right through to the dealer level. So we do expect to solve the issue that you just said there.
So Adam, we're going to call it Altium pricing just for you, Adam.
I love it.
I love it. Thanks, Mark. You got me excited now. Just a follow-up.
That's good. I hope we
are, yes.
Follow-up from you, Mark, on labor. A lot of our clients are saying, GM, the legacy guys just can't migrate to EVs culturally because the union will somehow screw it up. And I thought it was very telling yesterday the support from labor for these things. And of course, you're offering them a ton of investment at a very important and sensitive economic time, dollars 20,000,000,000 over 5 years or so. So I'm just wondering, and I'm not asking for any collective bargaining details here by any stretch, but just conceptually, am I right in thinking that GM is in a pretty good position to offer the union some job security and real investment in a future with a terminal value?
And then in return, you get some flexibility or otherwise labor costs or rules that might look favorable relative to an incumbent ICE program? Is that just at a high level? Am I off there?
I don't think you're off and I'm not going to sit here in detail, I can't, collective bargaining things. But I would say this, I would say some of the supposed or rumored opposition to electric vehicles from our these are our employees, look, I mean, they're represented, but these are our employees, right? I mean, you go into Factory 0 and look at the total remake of an old plant like Detroit Hamtramck and you see the energy and enthusiasm on the floor We took the Lyric, the Cadillac Lyric down to Spring Hill yesterday for that announcement and put it on the floor. I mean, people, I mean, this is generational, right? I mean, as the workforce changes from a generation and age and enthusiasm and all that from that standpoint, these people are really excited.
Our employees are super excited to make these, to be involved with retooling factories for the future, all that stuff. So I think there's a total excitement that maybe hasn't been there in a while around what we're doing and how we're doing it. And we're inclusive and we're to go as hard as we can and we're going to be as competitive as we can. And I think you're right on.
Well, thanks, Mark. I'll just finish by saying 2 words, crab walk. I don't remember the I think the last time GM blew up the Internet was back during the technology and stuff thing a few years back. But crab walk people I think some investors are crab walking back to a stock that they had written off here. So well done to you guys.
Thank you, Brett. That means a lot to me. Thank you, Adam.
Our last question comes from the line of Johnson Bryan with Barclays.
Yes. Just a few questions. So first, this is clearly targeted by design at the performance end of the market, dare I call it, to use competitors' label for that market, the Raptor end of the market. But what would you say in terms of migrating pickups down into the broader market? What do you hope to learn from the Hummer that could affect the timing and design of those?
That's a great question. And this is the first vehicle off of our battery electric truck platform, which is right there synergistic with our battery electric vehicle platform, which is more crossover and car oriented. So, in Factory 0, this is being capacitized, obviously, for this first. I think doing it the way we're doing it, yes, there's a marketing facing piece of it that's hugely attractive for us to get a nameplate under GMC like Hummer with the capability of all the cool things that you solve the truck. The other piece of this is to exercise the technology with Hummer first, not unlike what we're doing with some of the Cadillacs first.
And the manufacturing system and the mainstream high volume things like pickup trucks. This is the first one. It's going to lead to all the learnings from a battery standpoint, from a volume standpoint, from a build standpoint, all of those lessons we do as we roll out this truck will be taken into every one of the LTM platforms. But most importantly, I think how to do this at scale, whether it's the cell, the module, the electric drive unit, the actual difference in how we construct the cab versus a true body on frame, a regular pickup truck versus what we're doing here with an integrated pack on a very different structure that no one's seen yet. Those are huge learnings for us and how to get a different package on a battery electric pickup truck that maybe for Chevrolet or GMC proper.
Those are huge learnings. And frankly, it then trickles down into midsize trucks, like our midsize truck segment with Colorado and Canyon. So the importance of this truck right now is just what you said. It's the learnings for everything from propulsion to body shops to construction for a pickup truck that's quite different than a body on frame internal combustion engine pickup truck. So all of those things, we've designed, we've engineered and now it's time to learn and get scale and go at it.
So hopefully that makes sense.
Okay. And final question on the subpage pickup truck platforms. Can you give us any update on the discussions with Nikola vis a vis the Badger platform and the overall relationship?
Yes, for sure. And I did a little bit this morning with Phil LeBeau, and I'll say the same thing. We're continuing the discussions. The big opportunity for us, and I think you all know this, is the commercialization of what I think is the best fuel cell in the world, which is a shared view by Honda and Nikola. We have it.
We're in a manufacturing joint venture, obviously, here in Michigan at Brownstown with Honda. And so the opportunity for us is in the Class 7 and 8 space, which is a highly desired space for us to be in, even though we don't make those trucks. I would love to be in with that fuel cell because that's where you start seeing the infrastructure build out, you see the repeatable routes, you see the real savings from an operational cost standpoint and we can really go to town on taking the next step in electrification, which is fuel cell electric vehicles, which we got to get into production with, we got to learn and we got to get to scale and then we can further expand that. But that's what's very exciting for us. We're in those talks and that's where we are right now.
Does that mean it shifted away from helping them with the Badger pickup?
Not necessarily. There was a fuel cell in the Badger too, which I didn't mention, which would be a highly attractive place for us to do that as well. So, those yes, I was just mainly focusing on the fuel cell, but for both vehicles, yes.
Okay. Okay, thanks.
Sure.
Thank you. I'd now like to turn the call over to Mike Heifler for closing comments.
Thank you, operator, and thank you, Mark and Duncan. As you can see, we are super excited about our path for the GMC HUMMER EV, which will blend extraordinary on road performance and unprecedented off road capability, all with 0 emissions. So thank you again, everyone on the call for taking the time to join us today.
Ladies and gentlemen, that concludes this conference call for today. Thank you for joining.