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GM Going All-Electric; 20 New EVs Planned by 2023

GM Going All-Electric; 20 New EVs Planned by 2023”

GM also revealed a new battery architecture that it said would provide greater flexibility to engineer cars and trucks in response to customer demand. A lot of countries have been approving laws that will decrease the use of fuel cars for the sake of a better future.

The automaker unveiled plans Monday saying General Motors believes in "an all-electric future". Reuss said GM is pursuing a two-prong strategy in developing both battery and fuel cell powered electric vehicles.

General Motors will launch two new Chevrolet Bolt-based battery-electric vehicles within the next 18 months, and by 2023 have "at least" 20 new BEV or fuel cell models in its lineup, company executive vice president of product development Mark Reuss announced in Warren, Michigan. By 2023, it plans to sell at least 20 vehicles running on only electric power. "Although that future won't happen overnight, G.M.is committed to driving increased usage and acceptance of electric vehicles".

GM will follow up its well-regarded Chevrolet Bolt EV with a slew of advanced new all-electric models, the company said on Monday.

Reuss promised that the new vehicles will be profitable as people become more accustomed to the advancing technology.

GM shares closed on Monday at $42.15, the highest level since the company's 2010 post-bankruptcy initial public offering.

As if to illustrate the point, GM showed a fuel-cell concept vehicle built on a heavy-duty truck frame - sized for vehicles like a delivery van, a truck, or an ambulance, GM said.

Even though gasoline-powered SUVs are what people are buying now, General Motors is betting that electric vehicles will be all the rage in the not-too-distant future.

The new battery-electric vehicles will use a new-generation drivetrain that incorporates lessons learned from the Bolt, GM said.

The move demonstrated that GM is serious about remaining not just relevant, but extremely competitive as the global auto industry is transformed by electrification and the arrival of upstarts such as Tesla.

GM earned more than 90 percent of its $12.5 billion in pretax profits previous year in North America, amid robust demand for its lineup of large sport utility vehicles and pickup trucks. The cars, priced at almost $15,500, are the first attempt by the Indian government to replace its half-a-million fleet of diesel and petrol cars - used by hhigh-rankinggovernment employees - with electric vehicles.



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