According to the company’s spokesman, the GM will add 20 EVs and fuel-cell cars to the lineup by 2023. The biggest American car manufacturer decided to follow latest trends in the car industry and there are big plans for the future when it comes to electrified vehicles.
Reasons for more EVs and fuel-cell cars
There are several reasons for that, but it is mostly about abroad markets. According to our sources, more than 90 percent of the company’s profit is made in North America. In other parts of the world, GM isn’t such important player on the market. So, the easiest way to gain a better position on markets like China and Europe is to offer something new. This leads us to electric and fuel-cell vehicles, which are about to replace conventional gasoline and diesel engines in next few decades.
There are many reasons for this decision. First of all, the biggest American carmaker wants to be more present in abroad markets, especially in China and Europe. If we consider that Government of China plans to increase the share of electrified vehicles to 20 percent by 2025, it is clear why the company goes in this direction. The largest car market is a challenge for all car manufacturers and GM will have several trumps for the future. According to the company’s spokesman, their engineers already work on several electrified models that will come especially for the Chinese market. According to the company, we will see 10 new electric and hybrid vehicles in China by 2020.
On the other side situation in Europe is even more complex. At the moment, GM definitely can’t play a more important role in the market dominated by German car makers. VW Group has a privileged status in this part of the world and it is the absolute leader when it comes to sales numbers. However, most of the European countries plan to completely ban internal combustion engines by 2040. This is where GM can take advantage, especially if we consider that the company already gained some great achievements when it comes to technology.
Many wonder how much will development cost. According to many experts, this is a perfect moment for these kinds of investments. The production of conventional cars is pretty cheap at the moment, which leaves a huge profit for all car makers. According to some reports, GM is good for about 12.5 billion dollars every year. This means plenty of resources for the development of electric and fuel-cell cars.
New GM vehicles
As we already mentioned, the company prepares many new vehicles for the near future. First vehicles that will come will be based on the amazing Chevy Bolt. This electric car is already considered as one of the best electric cars on the market. With it great characteristics, it will be a perfect base for the upcoming models. According to some reports, we will see two completely new Bolt-based models in next 18 months. Also, there is a completely new SURUS platform that will be used as architecture for the all-new electric trucks and SUVs.
The American No.1 manufacturer takes very serious fuel-cell vehicles too. Latest reports suggest that the first fuel-cell vehicle should come in next five years. Also, the company will open a battery plant next year in China, along with its partner SAIC Motor Corp. Finally, all this acquires a big investment in terms of infrastructure, for rapid recharging.