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How GM Plans To Bury Tesla With Onslaught Of Electric Vehicles That Will -- Gasp! -- Make A Profit

General Motors

General Motors is testing self-driving Chevrolet Bolt EVs for use in shared fleets.

General Motors says its new family of electric vehicles will be 30 percent cheaper to build than the current Chevrolet Bolt EV, thanks to battery breakthroughs and other engineering feats that will add to the carmaker’s bottom line, even as it continues to rake in profits from trucks, crossovers and SUVs.

GM’s new modular EV platform, launching in 2021, will be the basis for at least 20 new battery-powered vehicles by 2023, and will be flexible enough to accommodate nine different body styles in multiple sizes, segments and brands in the U.S., China and elsewhere, CEO Mary Barra told an investor conference Wednesday.

In the meantime, GM will continue to build on the Bolt platform, introducing three new electric vehicles by 2020 that will share components with the battery-operated hatchback. Two of them will be crossovers, a fast-growing segment.

It all adds up to a massive EV offensive that will likely swamp Tesla’s efforts to launch its first mass-market EV, the Model 3, followed by its own small crossover, dubbed Model Y.

Since launching production of the Model 3 last summer, Tesla has delivered just 260 cars, and CEO Elon Musk told shareholders recently that the car remains mired in “production hell.” And, given that Musk says Model Y will need its own factory, there’s no telling when that model might debut.

The roadmap Barra laid out at Wednesday provided much greater detail than the company had previously provided about its aggressive EV strategy first announced in October.

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

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General Motors

General Motors is testing self-driving Chevrolet Bolt EVs for use in shared fleets.

General Motors says its new family of electric vehicles will be 30 percent cheaper to build than the current Chevrolet Bolt EV, thanks to battery breakthroughs and other engineering feats that will add to the carmaker’s bottom line, even as it continues to rake in profits from trucks, crossovers and SUVs.

GM’s new modular EV platform, launching in 2021, will be the basis for at least 20 new battery-powered vehicles by 2023, and will be flexible enough to accommodate nine different body styles in multiple sizes, segments and brands in the U.S., China and elsewhere, CEO Mary Barra told an investor conference Wednesday.

In the meantime, GM will continue to build on the Bolt platform, introducing three new electric vehicles by 2020 that will share components with the battery-operated hatchback. Two of them will be crossovers, a fast-growing segment.

It all adds up to a massive EV offensive that will likely swamp Tesla’s efforts to launch its first mass-market EV, the Model 3, followed by its own small crossover, dubbed Model Y.

Since launching production of the Model 3 last summer, Tesla has delivered just 260 cars, and CEO Elon Musk told shareholders recently that the car remains mired in “production hell.” And, given that Musk says Model Y will need its own factory, there’s no telling when that model might debut.

The roadmap Barra laid out at Wednesday provided much greater detail than the company had previously provided about its aggressive EV strategy first announced in October.

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

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Read Again https://www.forbes.com/sites/joannmuller/2017/11/15/how-gm-plans-to-bury-tesla-with-onslaught-of-electric-vehicles-that-will-gasp-make-a-profit/

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