April 21, 2018

General Motors unveils plan to release 20 electric vehicles by 2023

03 October 2017, 08:04 | Lorenzo Hawkins

General Motors to ramp up electric vehicle plans, 20 new models planned over next 6 years

Flags fly outside the General Motors world headquarters building

It early this year launched a joint venture with Honda to begin producing fuel-cell stacks that could be used in vehicles as well as stationary power systems.

In addition to the 10,000 electric cars, it will also roll out almost 100,000 electric auto rickshaws and buses in the next few weeks.

GM said its future electric vehicles will utilize batteries or hydrogen fuel cells.

GM has previously announced plans to make some of its future electric vehicles capable of driving themselves in robot taxi fleets. And it promised an increase in the number of electric fast-charging stations in the USA, which now total 1,100 from companies and governments, taking a shot at electric competitor Tesla saying the system would not be "walled off" from electric vehicles made by other manufacturers. Some, such as Volvo, intend to only offer electrified drivelines, others, such as Volkswagen, say they will have electrified options available on all future models.

The Bolt, the first all-electric vehicle aimed at the middle market, now faces competition from Tesla's Model 3, which has won admiration among many environmentalists and auto aficionados as a leader in new auto technologies.

To that end, the company revealed a design for a new heavy-duty vehicle platform that would be powered by fuel-cell and dual electric motors, called "SURUS", or "Silent Utility Rover Universal Superstructure".

But this week may top it, thanks to one single, massive announcement: General Motors is dumping gasoline in favor of an electric future.

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. Pam Fletcher, who leads GM's autonomous- and electric-vehicle development programs, said that GM is planning efforts to expand the availability of fast-recharging stations for its customers.

GM shares were up 4%, to $42, though most of those gains came ahead of the news.

The first 500 electric vehicles will be supplied to EESL in November and the remainder will be delivered in the second phase, it said.

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

When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.

Other News

Trending Now

Hurricane Maria to bring large waves, life-threatening rip currents to Jersey
Meanwhile, off the coast of Nantucket, Jose has transitioned into a post-tropical storm with 50 miles per hour winds. Those on the Carolina and mid-Atlantic coasts are warned to monitor the storm's progress.

Highlights of Wednesday's Major League Baseball games
Still, there was an argument to be made that the series loss was an isolated incident, and the Cardinals future remained bright. The third baseman doubled home a run in the 11th inning Thursday night, giving the Cubs a 2-1 victory.

London to End Uber Ride Hailing App Over 'Security Implications'
The company has 3.5 million active users in London. Uber's license in London has not been renewed. The license expires on September 30.

Google is building a tabletop smart screen, says report
Smart home camera support on Fire TV now works on a range of devices from companies including Arlo, Ring, Nest, and August. Now it appears the company might be adding a touchscreen to the equation in order to compete with the Amazon Echo Show .

South Korea says natural North Korea quake detected
North Korea fired a missile last week that travelled over Japan's northern island of Hokkaido and plunged into the Pacific Ocean. A South Korean expert said the quake could have been caused by geological stress created from the recent nuclear explosion.

Oil Hits Highest $58.37
The major oil producers' production cut deal has supported crude oil prices since November 2016 . Department of Energy's Energy Information Administration (EIA) releases its data.

North Korea Leader Threatens US With 'Highest Level' Response
Trump has unleashed many strong statements on North Korea including his August warning the North will be met with "fire and fury". The flight follows a week of heightened rhetoric from Washington and Pyongyang , with Trump and Kim Jong Un trading insults.

New Zealand elections: Nationalist party likely kingmaker after hung Parliament
Her policy platform includes free tertiary education and slashing immigration to reduce pressure on housing and infrastructure. Farmer and former policeman Matt King holds a 1299-vote lead over Mr Peters with more than 96 per cent of the vote counted.

Russian military defies constant shelling to build bridge across Euphrates in Syria
The news comes after the SDF accused Russian Federation of attacking their positions near gas fields in Deir ez-Zor, killing and wounding several militants.

El Capitan climbers: Yosemite rock fall is biggest in memory
The first rockfall on weds, unfortunately killed one climber and injured another who were on the ground about to start climbing. Another massive rockfall near El Capitan has closed down Northside Drive on the valley floor in Yosemite National Park .