The name General Motors has been around for more than a century, so maybe it's time to dust it off and ditch the antiquated moniker for something more ... trendy and easy to pronounce and remember, like Ultium.
Yeah, that's right, Ultium. Rolls right off the tongue, doesn't it?
During a second-quarter earnings call with analysts Wednesday, Morgan Stanley auto analyst Adam Jonas brought the question and answer section to a halt when he asked CEO Mary Barra, "The General Motors brand has done its job, but I'm wondering if it might be out of touch with some of the really interesting directions you're taking the business. Why not call the company Ultium, the entire company?"
Ultium is the name of GM's proprietary batteries that will propel GM's next-generation electric vehicles.
Jonas' idea comes after Fiat Chrysler Automobiles said that it would adopt the new name Stellantis early next year after it merges with Peugeot maker PSA Group. That name stirred up a frenzy of comments on Twitter, including such zingers as, "Ask your doctor if Stellantis is right for you."
Jonas' suggestion Wednesday did not slip past Twitter's peanut gallery either with comments such as comparing the proposed names to "male enhancement products."
Barra's reply during the call was diplomatic and surprisingly receptive. She said she would not rule out a name change at some point, but said GM is more focused on developing its overall EV strategy at the moment.
"We are open to looking at ... anything that we think is going to drive long term shareholder value," Barra said, adding, "We believe strongly in our EV future."
Meanwhile, on Wednesday, GM broke ground on the site for the plant where it will build the Ultium batteries in Ohio. It sits adjacent to GM's former Lordstown Assembly facility. GM has partnered with LG Chem to make the batteries at the Ohio plant. GM said the plant will eventually create over 1,000 new jobs in that area.
That plant, to be called Ultium Cells LLC, and its batteries represent the only things GM so far has slapped with the name Ultium _ until some analyst convinces Barra otherwise.
