GM to offer 2 more electric vehicles in next 18 months

Posted October 03, 2017

The BEV and fuel cell announcement is a clear shot at electric vehicle upstart Tesla, which posted a net loss of almost $675 million previous year, and has yet to earn an annual net profit.

For now, though, GM isn't saying exactly when that purely electric future will be. For instance, while battery electric is one strategy, as per the Bolt EV, GM is also looking to hydrogen fuel cells.

M - GM has provided more details on its plans for a zero-emissions future, with Executive Vice President of Product Development, Purchasing and Supply Chain Mark Reuss stating that "General Motors believes in an all-electric future". "Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles".

The auto industry has been abuzz lately as companies jockey to position themselves for full-electrification of their products, driven by regulatory changes and the possibility that major growth markets, mainly China, will ban internal-combustion engines.

GM's foray into the electric marketplace has already resulted in resounding success, with the Chevy Bolt being named Motor Trend's 2017 Car of the Year and the 2017 North American Car of the Year. 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.

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US -based auto giant General Motors has revealed plans to roll out at least 20 new all-electric vehicles by 2023.

Shares of the company opened at Rs 428.25 and touched a high and low of Rs 428.25 and Rs 418.80, respectively, in trade so far.

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.

The automaker said not all of GM's electric vehicles will use batteries, some will use hydrogen gas instead. California regulators first launched a zero-emissions mandate two decades ago but rolled it back when it became clear the technology of that era would not meet consumer demand. The Motley Fool has no position in any of the stocks mentioned.