GM's aggressive all-electric roadmap has 2 EVs in next 18 months

GM's aggressive all-electric roadmap has 2 EVs in next 18 months

GM's foray into the electric marketplace has already resulted in resounding success, with the Chevy Bolt being named Motor Trend's 2017 Car of the Year and the 2017 North American Car of the Year.

To that end, the company revealed a design for a new heavy-duty vehicle platform that would be powered by fuel-cell and dual electric motors, called "SURUS", or "Silent Utility Rover Universal Superstructure".

The company's long game and commitment to zero emission vehicles includes research into battery technology along with hydrogen fuel cells.

GM is intentionally being vague about its plans for switching to an all-electric powertrain strategy, but it is clearly planning to amp up its offerings in the relative near-term. "Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles". Musk has said Tesla plans to produce 500,000 electric cars annually by the end of 2018, and 1 million by 2020, though so far it operates just one factory, the former GM-Toyota joint venture that never built more than 430,000 per year.

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As GM commits to electric innovation, the company will compete with an increasingly crowded marketplace. The company offered sneak peeks of three electric vehicle prototypes: a Buick brand sport utility vehicle, a sporty Cadillac wagon and a futuristic pod auto wearing a Bolt badge. These initiatives have been prompted by tightening emissions regulations in Europe and China, the ongoing buildout of recharging infrastructure, and - to some extent - the continued success of Tesla (NASDAQ: TSLA).

The company plans to offer a fuel cell vehicle to retail customers within five years, it said.

That possibility appeared to move closer on Monday, when General Motors' chairman and CEO Mary Barra announced that her firm - the maker of the Hummer, the Corvette and the Suburban - "believes in an all-electric future". At the same time, crosstown rival.

But GM investors can now be a bit more confident that the General will be a major player as the world transitions to electric vehicles. The cars, priced at almost $15,500, are the first attempt by the Indian government to replace its half-a-million fleet of diesel and petrol cars - used by hhigh-rankinggovernment employees - with electric vehicles. The Motley Fool has no position in any of the stocks mentioned.

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