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
-
Startup Readies Solar-Powered EV
Germany’s Sono Motors GmbH says it has received 5,000 orders for its upcoming Sion electric car, which can be partially recharged by it attached solar panels.
-
Toyota Updates Fuel Cell Test Truck
Toyota Motor Corp. unveiled an updated version of its Project Portal fuel cell-powered heavy-duty truck with reduced weight and increased driving range.
-
Audi e-tron to Get September Reveal
Audi AG will take the wraps off its first electric vehicle, the all-new e-tron crossover, on Sept. 17 in San Francisco.