Faizel Patel, Radio Islam News – 16-11-2017

Automaker, General Motors plans to launch a new family of electric vehicles in 2021 that will cost less to build.

GM’s cost reduction efforts on electric vehicles center on a new battery system that will be more than 30% cheaper than the one that powers the Chevrolet Bolt.

It says the new batteries would hold more energy and charge quicker. The company is aiming to boost electric vehicle range to more than 300 miles (483km) with the new batteries. The current Bolt is rated at 238 miles between charges.

Speaking at the Barclays Global Automotive Conference in New York, Chief Executive Mary Barra told investors on Wednesday, her plans represent a direct challenge to money-losing electric vehicle specialist Tesla which is struggling to get its more affordable, high-volume Model 3 launched and recently reported its largest-ever quarterly loss.

“We are committed to a future electric vehicle portfolio that will be profitable.”

Electric and autonomous vehicles – known in the industry as EVs and AVs – are widely seen as the keystones of future transport, but Tesla, Ford and other manufacturers are still working out how to make money on them.

In early October, GM said it planned to launch 20 new electric vehicles by 2023, but did not provide specifics.

Before the new platform arrives, GM plans to introduce three new electric vehicles by 2020, including two crossovers that will share basic components with the Bolt.

Twitter: @FaizelPatel143