EVLN: GM's SUV& pickup-truck ice-profit$ paying for more Electric Vehicles

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EVLN: GM's SUV& pickup-truck ice-profit$ paying for more Electric Vehicles

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http://indianexpress.com/article/business/companies/gm-promises-more-electric-vehicles-paid-for-by-suvs-4872129/
GM promises more electric vehicles, paid for by SUVs
October 3, 2017  Reuters

[image  / Reuters
http://images.indianexpress.com/2017/05/gm-759.jpg
(ice)  GM earned more than 90 percent of its .5 billion in pretax profits
last year in North America, amid robust demand for its lineup of large sport
utility vehicles and pickup trucks
]

GM indicated last month it is nearly ready to begin mass production of
autonomous Chevrolet Bolt vehicles. Regulators in China and some European
countries have floated proposals to ban internal combustion engines by 2030
or 2040.


Detroit automaker General Motors Co outlined plans on Monday to add 20 new
battery electric and fuel cell vehicles to its global lineup by 2023,
financed by robust profits from sales of gasoline-fueled trucks and sport
utility vehicles in the United States and China. “General Motors believes in
an all-electric future,” GM global product development chief Mark Reuss said
during a briefing at the company’s suburban Detroit technical center. Future
generations of GM electric vehicles “will be profitable,” Reuss said, but
added it was not clear when GM could make all its new vehicle offerings
zero-emission electric cars ...


GM indicated last month it is nearly ready to begin mass production of
autonomous Chevrolet Bolt vehicles. Regulators in China and some European
countries have floated proposals to ban internal combustion engines by 2030
or 2040. “We will continue to make sure our internal combustion engines will
get more and more efficient,” Reuss said.

Automakers, including electric vehicle market leader Tesla Inc, lose money
on electric cars because battery costs are still higher than comparable
internal combustion engines. GM funds its forays into new technology using
cash generated by old-technology vehicles popular with its core customer
base in the U.S. heartland. In comparison, Tesla has burned through an
estimated $10 billion in cash and has yet to show a full-year profit.


GM earned more than 90 percent of its $12.5 billion in pretax profits last
year in North America, amid robust demand for its lineup of large sport
utility vehicles and pickup trucks. The company’s profitable operations in
China rely on consumer demand for an expanding lineup of gasoline-powered
SUVs. GM has previously announced plans to make some of its future electric
vehicles capable of driving themselves in robot taxi fleets. The company
offered sneak peeks of three electric vehicle prototypes: a Buick brand
sport utility vehicle, a sporty Cadillac wagon and a futuristic pod car
wearing a Bolt badge.


GM collaborated with Korean battery maker LG Chem to build the Bolt battery
system. Company officials did not say what companies would supply batteries
for the larger fleet of vehicles promised by 2023. Fuel cell vehicles will
also play a role in GM’s future, the company said. GM showed on Monday a
prototype of a rolling, hydrogen-fueled platform called SURUS that could be
used for multiple purposes.


 ... GM Chief Executive Mary Barra said last month the company plans to
introduce at least 10 new electric or hybrid vehicles to the Chinese market
by 2020, and open a battery plant this year with Chinese partner SAIC Motor
Corp Ltd.

China has set goals for electric and plug-in hybrid cars to make up at least
a fifth of auto sales by 2025. Some of the electric vehicles GM will offer
in China are among the 20 Reuss promised by 2023. GM also hinted that it may
take new steps to expand the public infrastructure for rapid recharging of
electric vehicles, without offering any details. The No. 1 U.S. automaker
joins several rivals, including German automakers Daimler AG, Volkswagen AG
and BMW AG, that have pledged to accelerate development of electric
vehicles. GM’s announcement comes two days before rival Ford Motor Co is
scheduled to roll out a new strategic plan, and as Tesla ramps up production
of its high-volume Model 3 electric sedan.
[© 2017 The Indian Express]



https://www.geo.tv/latest/160894-general-motors-targets-20-all-electric-models-by-2023
General Motors targets 20 all-electric models by 2023
Oct 03 2017  "Although that future won´t happen overnight, GM is committed
to driving increased usage and acceptance of electric vehicles through
no-compromise solutions ...
https://www.geo.tv/assets/uploads/updates/2017-10-03/160894_9356473_updates.jpg
...
https://www.fool.com/investing/2017/10/02/general-motors-gets-serious-about-electric-cars.aspx
General Motors Gets Serious About Electric Cars
Oct 2, 2017  General Motors announced on Monday that it will launch 20 new
all-electric vehicles by 2023 -- with the first two due within 18 months ...




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