George, I think Ultium is the GM brand name for its family of EV components, both motors and batteries. It doesn't refer to any particular technology, other than the Ultium family is modular, and components are usable on a variety of vehicle platforms rather than being platform-specific. Sort of how 'Vortec' refers to a family of GM engines, or 'Turbohydramatic' to transmissions.
Of the three Ultium motors GM just announced, two are permanent magnet while the third is induction. Quite different technologies. I think all the Ultium batteries are lithium-ion, but I assume GM would stick with same name if they introduced a non-Li-ion battery.
The GM press release below from 2020 sort of explains what 'Ultium Drive' means.
Curiously, as I was googling, I discovered that Purina has already trademarked Ultium as a brand of horse feed. No comment, Frau Blücher.
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