GM Promises Two New EVs in 18 Months, Plans All-Electric Future

Krales  The Verge

She also added that GM will help with "accelerating" the deployment of rapid-charging stations for its customers.

Vehicles powered either by batteries or hydrogen fuel cells will ultimately represent GM's entire global lineup, Mark Reuss, product development chief, said Monday, USA Today reported. "Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles".

Recent announcements of major electric-vehicle programs at several of GM's big global rivals, most notably Volkswagen AG, had left investors wondering: How and when would GM follow up its well-regarded Chevrolet Bolt EV? The platform is a fuel-cell-powered, four-wheel-steer concept that is built on a heavy-duty truck frame and driven by two electric motors. Nissan recently announced a redesigned version of that vehicle, with longer range and a price that remains lower than even Tesla's new, more accessible, Model 3.

It's no surprise that GM, which became the first automaker to begin mass-producing an affordable long-range electric vehicle a year ago, appears to have an extensive electric-vehicle product-development program well underway.

General Motors announced plans Monday to launch 20 all-electric cars by 2023, part of a long-term push to an "all-electric" fleet as governments globally embrace fuel efficiency.

GM shares closed on Monday at $42.15, the highest level since the company's 2010 post-bankruptcy initial public offering. The company's new cars will be based on the "learnings" from the Chevrolet Bolt, a mass-market electric auto that has been well received. Some of the electric vehicles GM will offer in China are among the 20 Reuss promised by 2023. The first two of the series will rollout in the next 18 months.

The automaker said not all of GM's electric vehicles will use batteries, some will use hydrogen gas instead.

"With its capability and flexible architecture, SURUS could be used as a delivery vehicle, truck or even an ambulance - all emissions free", GM said.

The all-electric and fuel cell vehicles represent a "two-pronged" approach to the automaker's vision of an autonomous, zero-emission future that was recently announced by GM CEO Mary Barra. The Motley Fool has no position in any of the stocks mentioned.

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