General Motors Co. (NYSE: GM) said Tuesday its defense unit will supply battery-electric propulsion for a new lunar terrain vehicle as NASA's Moonbase goals take shape. GM To Provide Battery Electric Propulsion
The Detroit Free Press reported on Tuesday that GM's military contracting subsidiary, GM Defense, will participate as a subcontractor on the "Pegasus" Lunar Terrain Vehicle, with Lunar Outpost serving as prime contractor. GM will also be joined by tire manufacturer Goodyear Tire & Rubber Co. (NASDAQ: GT).
NASA's award to Lunar Outpost totals $220 million for an initial phase, while GM has not said what share of that funding would flow to its portion of the effort, according to the report.
The agency has said the vehicle is expected to handle manual driving, autonomous operation, and remote control, and it is designed for speeds above 9 mph. NASA has targeted Artemis support in 2028 for the rover, the report said.
NASA Lunar Goals
NASA had earlier shared its goal of establishing a Lunar base. The goal was backed by Tesla Inc. (NASDAQ: TSLA) and SpaceX CEO Elon Musk, who called the goal "awesome."
GM's EV Rollback
Notably, GM suspended the development of the next-generation Chevrolet Silverado EV Pickup truck. The company had, last year, recorded a $6 billion charge related to EVs on top of the earlier reported $1.6 billion charge it took to scale its EV efforts.
The company has instead outlined investing nearly $1 billion in strengthening its gasoline vehicle lineup, with over $340 million in new investments aimed at bolstering its U.S. manufacturing plants.