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

Chevrolet Bolt EV electric car with future GM electric and hydrogen fuel-cell vehicles Oct 2017

On Monday, GM provided a brief outline on "how it is executing on a major element of its vision of a world with zero crashes, zero emissions and zero congestion, recently announced by GM Chairman and CEO Mary Barra", according to a company press release.

As GM commits to electric innovation, the company will compete with an increasingly crowded marketplace.

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, G.M.is committed to driving increased usage and acceptance of electric vehicles".

General Motors already rolled out an all-electric vehicle in the past year. GM sells more cars in China than in its home market. But it also said that "getting to a zero emissions future will require more than just battery-electric technology". The German automaker Volkswagen has pledged to introduce a number of new battery-powered models in the next few years, and Ford Motor is expected on Tuesday to specify its plans for battery-powered models.

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.

Investors pushed up GM shares ahead of the electric vehicle announcement on a Deutsche Bank comment that the automaker plans to deploy autonomous vehicles in ride services by 2020.

More news: Trump tells Puerto Rico residents
More news: IPhone X & iPhone 8 worth the price
More news: New Zealanders head to polls for neck-and-neck national vote

GM hasn't announced what the two new electric cars will be, but it's expected that one of them will be a Bolt-based Buick electric auto.

The first 500 electric vehicles will be supplied to EESL in November and the remainder will be delivered in the second phase, it said. SURUS is created to serve as the underpinnings for delivery vehicles, trucks or even applications like an ambulance.

Newer lithium-ion batteries have drastically improved the capabilities of electrified vehicles and there are now dozens of hybrids, plug-ins and BEVs on the market, as well as three hydrogen fuel-cell vehicles.

"There is a transition going on", said Reuss, adding that GM has no set timetable to eliminate gasoline engines from its vehicles. That's right - they think these 10 stocks are even better buys.

USA rival Ford Motor Co. The Motley Fool has a disclosure policy.

Related News:



Most liked

Raiders could be without leading receiver for Broncos game
But they haven't had much success against the Denver secondary led by Aqib Talib , Chris Harris Jr . and Bradley Roby . As good as the Denver defense is, the Broncos go as Siemian goes. "They have a really good offensive line ".

OJ Simpson heads for prison gates
Simpson was later found liable in a civil case for the slayings in 1997 and ordered to pay the victims' families $33.5 million. It's important to note that Florida officials say Simpson hasn't filed a transfer request with the Sunshine State.

Woman Jets Off For International Vacation, Leaves Four Unsupervised Children At Home
One of the Johnston students accused of robbing and sexually assaulting another student made his first court appearance on Friday. But authorities ordered her to return much sooner - when they learned that she had left four young children behind.

Former Volkswagen chief engineer arrested for dieselgate
Europe's biggest automaker admitted in September 2015 that it had used illegal software to cheat US diesel emissions tests. The company is scheduled to present third-quarter financial results late next month.

Aston Martin Goes Deep with "Project Neptune"
However, Project Neptune is clearly the in its early stages and might never make its way out of a concept and into production. Triton Submarines president Patrick Lahey said: "We have always admired Aston Martin .

Video streaming company Roku raises $219M in IPO
Despite heavyweight rivalry, Roku has managed to find and maintain its footing. (NASDAQ: AMZN)'s Fire TV and Apple Inc . Roku's edge, it seems, comes in form of its ability to offer everything and not step on any toes.

Meghan McCain Is Joining the Cast of 'The View'!
At that time, " The View " frequently made headlines for in-show fighting between co-hosts over different political views . Jedediah Bila, the only conservative cohost, left the show recently, paving the way for self-identified Republican McCain .

Trump Waives Pro-Union Shipping Regulations To Send Aid To Puerto Rico
Cargo ships are stuck in port waiting to be offloaded, but supplies have nowhere to go, The Wall Street Journal reported . The Jones Act was waived earlier this month to provide relief assistance prior to Hurricane Irma's landfall, DHS said .

Construction of Donald Trump's border wall starts
Construction began on prototype designs for a border wall in a fenced-off area in Otay Mesa yesterday. According to Customs and Border Protection, the prototypes will be finished within 30 days.

A huge 'Monday Night Football' boosted NFL ratings, despite Trump comments
While the ratings service ComScore can not measure overnight ratings, numbers from week one of the National Football League season are in.

Star duo set to miss Shakhtar clash, Mendy faces late fitness test
The Argentine, who once spent an ill-fated season on loan at Newcastle, seems to have rediscovered his goalscoring touch. Manchester City look like the easy favorite at home, but this Shakhtar will be high on confidence after beating Napoli .

Hurricane Maria moves north; Lee still far from land
Hurricane Maria lashed the Turks and Caicos islands over the weekend after killing at least 32 in Puerto Rico and Dominica. And forecasters are warning that it is "increasingly likely" it could make landfall along some parts of the USA coast.

Vikings CB Tramaine Brock active, QB Sam Bradford remains week-to-week
Minnesota Vikings running back Dalvin Cook carries the ball during the first quarter against the Tampa Bay Buccaneers at U.S. LB Lavonte David was carted off with 3:14 left in the game after Vikings TE David Morgan fell on his left leg.

U.S. crude stockpiles seen rising last week, products likely down
The EIA's next weekly dataset is on Wednesday. "We could see some payback in oil prices in the short term", Pedersen said. All told , total US petroleum stocks fell by 6.6 million barrels.

Ewoo! Kylie Jenner is pregnant y'all
According to the gossip site, Kylie and her boyfriend Travis Scott are expecting their first child together. Scott, 25, has been discussing the pregnancy with his circle as well, TMZ reports .