Economy

General Motors ramps up all-electric push

General Motors ramps up all-electric push”

Those two cars will be the vanguard of a line-up of all-electric cars that is expected to number more than 20 models by 2023.

General Motors is planning to unleash an electrified onslaught of cars in the coming years, announcing on Monday that it'll push out at least 20 all-electric vehicles by 2023.

"General Motors believes the future is all electric", Mark Reuss, the carmaker's Executive Vice President of Global Product Development, said on a conference call with reporters after sharing details of forthcoming designs and new battery engineering was revealed.

Reuss added that "GM believes the future is all-electric", and that "these aren't just words in a war of press releases", referring to the spate of recent announcements by automakers committing to offering either hybrid or electric versions of their entire lineup by some future date.

"We are far along on our plan to lead that future world", Reuss said.

GM shares were up more than 4 percent in midday NY trading on positive comments from Rod Lache, auto analyst at Deutsche Bank. In comparison, Tesla has burned through an estimated $10 billion in cash and has yet to show a full year profit.

GM has previously announced plans to make some of its future electric vehicles capable of driving themselves in robot taxi fleets. The company offered sneak peeks of three electric vehicle prototypes: a Buick brand sport utility vehicle, a sporty Cadillac wagon and a futuristic pod auto wearing a Bolt badge. While there are fuel cell based vehicles on the market already - like Toyota's Mirai and Honda's Clarity Fuel-Cell - there're only offered in limited markets, predominantly in pockets of California.

"An electric solution can not be one size fits all", Reuss said.

GM also introduced SURUS-the Silent Utility Rover Universal Superstructure-a fuel cell powered, four-wheel steer concept vehicle on a heavy-duty truck frame that's driven by two electric motors. Reuss noted that GM has advantages in this race because "light weighting of vehicles has been a priority over many years", even with its fuel cars, and you then combine that with the agility of the battery pack, and GM's strategy of reducing the coast of battery packs in use by reducing the size of the battery pack itself to find its competitive advantage.

This strategy is viewed as a pre-emptive move as countries like China, Norway, France and others are looking to ban internal combustion vehicles in the 2030-2040 timeframe.



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