Tech

GM Expects to Sell 1 Million Electric Cars a Year by 2026

GM Expects to Sell 1 Million Electric Cars a Year by 2026

It is noted that the model will be put electric Chevrolet Bolt hatchback.

"We are committed to a future electric vehicle portfolio that will be profitable", Barra said at the Barclays Global Automotive Conference in NY.

GM plans to sell 1 million EVs annually by 2026, driven by ongoing cost reductions and the debut of at least 20 new all-electric and hydrogen fuel cell vehicles globally by 2023.

According to GM's estimates, cars based on the new platform will cost 30 percent less to bring to market and offer more range than now possible with electric cars.

The efforts in cost reduction by GM on its electric vehicles are centered on its new battery system which will be over 30% less expensive than another one now powering it Chevrolet Bolt. In the presentation, she outlined plans for GM's electric-vehicle platform that will eventually include five SUVs, including two luxury SUVs; two crossovers with one luxury version; two cars, including one luxury auto; a commercial van; and a shared self-driving, ride-sharing vehicle. The company said it will cut costs by approximately 30%.

GM is looking to break out of that pattern by developing an all-new electric vehicle platform that will accommodate multiple sizes and segments, to be sold by different GM brands in the United States and China, Barra said, adding new details to GM's aggressive electrification strategy. She added that those vehicles will feature innovative technologies such as its Super Cruise autonomous highway driving system.

More news: Royal Mail reports slip in half yearly profits

Barra said vehicles from the new platform would arrive around 2021.

GM, according to Barra, is working on speeding the installation of DC fast chargers for EVs that almost all customers will be able to use. "Our focus is on the customer, so that means removing barriers for ownership".

Barra said the company was "the only fully integrated developer of AVs with true scale capability".

In comparison, Ford has plans that would introduce 13 new electrified vehicles, with most being hybrid gas-electric models that would be available in 2022. Total global EV sales are not projected to top one million annually until 2019.

"Make no mistake, we are here to win", Barra said.


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