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
-
FCA Opens the Door to The Future
FCA introduced a high-tech concept vehicle today, the Chrysler Portal, at the event previously known as the “Consumer Electronics Show,” now simply CES.
-
GAC, CATL Partner on Two Battery Ventures
Two new battery ventures are being formed in China by domestic carmaker Guangzhou Automobile Group Ltd. and battery giant Contemporary Amperex Technology Ltd.
-
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.