GM To Release 20 Electric Cars By 2023

Oct 03, 2017, 08:06
GM To Release 20 Electric Cars By 2023

By 2023, GM plans to introduce a total of 20 electric vehicles, saying the company's entire lineup will be electrified at some time in the future.

Mark Reuss, GM's chief of global product development, talked about the company's new course at a media event in MI on Monday.

At an event in Warren, Michigan, on Monday, GM showed off three clay models of vehicles designed around its upcoming new battery-electric drivetrain: a Buick crossover, a Cadillac wagon, and a futuristic-looking small vehicle that could be the next-generation Bolt EV.

As of 3 pm EDT, GM's shares were trading at $42.19, up about 4.5% from Friday's close.

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Based on a heavy-duty truck frame, and with two electric motors and all-wheel steer, it's part of the automaker's vision for what tomorrow's delivery vehicle, truck, or ambulance could look like in the years to come. Chevrolet's first electric vehicle, the Bolt, costs about $37,500, for example, and that's a small vehicle.

"We will continue to make sure our internal combustion engines will get more and more efficient", Reuss said. Mark Ruess, GM head of product, told Wired that the automaker will phase out its gas- and diesel-powered vehicles gradually in different markets.

This year, GM has sold just under 12,000 Bolts in the U.S.

"Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of (EVs) through no-compromise solutions that meet our customers needs", Reuss says in a statement.

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GM introduced its first long-range EV, the Chevy Bolt, in December 2015.

The company's long game and commitment to zero emission vehicles includes research into battery technology along with hydrogen fuel cells.

GM finished 2016 as the world's third-largest auto-seller, breaking previous company records with 10 million vehicles sold, according to the company's news release. 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.

The acceleration to an all-electric future will begin nearly immediately, with GM releasing two new electric models next year and an additional 18 by 2023.

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GM also hinted that it may take new steps to expand the public infrastructure for rapid recharging of electric vehicles, without offering any details.

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