03 October, 2017
And rival Ford Motor Company (NYSE: F) is expected to announce a broader electric-vehicle effort soon, perhaps as early as Tuesday.
For now, though, GM isn't saying exactly when that purely electric future will be.
GM's two-pronged electrification approach was unexpected, although over the years the company has indicated that hydrogen fuel-cell could be as promising as all-electric propulsion technologies.
"General Motors believes the future is all electric", Mark Reuss, the carmaker's Executive Vice President of Global Product Development, said on a conference call with reporters after sharing details of forthcoming designs and new battery engineering was revealed. "Although that future won't happen overnight, G.M.is committed to driving increased usage and acceptance of electric vehicles".
"We can't just flip a switch and make the world go all-electric", he said, adding that GM will continue to enhance the efficiency of internal-combustion engines until an all-electric future arrives. Nissan recently announced a redesigned version of that auto, with longer range and a price that remains lower than even Tesla's new, more accessible, Model 3.
But with governments from China to California considering stiff regulations to encourage the production of emissions-free vehicles, GM is responding with big promises to shift its business more toward cars propelled by batteries and fuel cells.More news: Uber pleads with mayor for deal
Reuss said the new vehicles that aren't built on the Bolt platform will have GM's next-generation electric architecture, which he said will be more efficient with longer range than the Bolt's 238 miles.
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. Reuss said that the next version is going to be better than the one GM has on the road today. As for specifics, I expect that we'll learn more about the first of GM's upcoming electric vehicles over the next few months.
In a push to produce cars powered by batteries or fuel cells, General Motors on Monday laid out a strategy to vastly expand the number of electric models in the marketplace.
Newer lithium-ion batteries have drastically improved the capabilities of electrified vehicles and there are now dozens of hybrids, plug-ins and BEVs on the market, as well as three hydrogen fuel-cell vehicles.
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