Mexican Media Brands
GM Targets Profitable EV Business by 2021
General Motors Co. tells investors it expects its electric-car business to become profitable by 2021 and reach annual sales of 1 million units by 2026.
#hybrid
Share
General Motors Co. tells investors it expects its electric-car business to become profitable by 2021 and reach annual sales of 1 million units by 2026.
CEO Mary Barra says positive earnings will come when GM rolls out a cheaper and better-performing next-generation successor to its current Chevrolet Bolt EV platform four years from now.
The modular platform is targeting a range of more than 300 miles per charge. The new chassis also will use batteries that cost $100 per kilowatt-hour, making them about 30% cheaper than the units used in today’s Bolt. Analysts have said that price point would make EVs comparable in cost to piston-powered cars with similar performance.
The future platform will be used to carry 11 types of EVs ranging from small cars to large SUVs. GM has said it will introduce at least 20 battery and hydrogen fuel cell vehicles by 2023. The first two of the new models are due in 2020.
RELATED CONTENT
-
What the VW ID. BUGGY Indicates
Volkswagen will be presenting a concept, the ID. BUGGY, a contemporary take on a dune buggy, based on the MEB electric platform that the company will be using for a wide array of production vehicles, at the International Geneva Motor Show.
-
Internal Combustion Engines’ Continued Domination (?)
According to a new research study by Deutsche Bank, “PCOT III: Revisiting the Outlook for Powertrain Technology” (that’s “Pricing the Car of Tomorrow”), to twist a phrase from Mark Twain, it seems that the reports of the internal combustion engine’s eminent death are greatly exaggerated.
-
Hyundai Shops for a Partner to Make Electric Scooters
Hyundai Motor Co. is looking for a domestic partner to mass-produce the fold-up Ioniq electric scooter it unveiled at last year’s CES show in Las Vegas, a source tells The Korea Herald.