US Auto Makers Step Up Plans for Electric Vehicles

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US Auto Makers Step Up Plans for Electric Vehicles

"General Motors believes in an all-electric future", Reuss said at a media event at the company's technical center in the Detroit suburb of Warren. Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles through no-compromise solutions that meet our customers' needs.

On Monday, Ford announced plans to create a group tasked with developing fully electric cars known as "Team Edison".

GM plans to deploy a "multi-use" strategy that will facilitate greater use of electric vehicles, Fletcher said. "Because General Motors believes the future is all electric, these aren't just words in a war of press releases".

Charles Freese, GM executive director of global fuel cell business, said SURUS is designed for a "wide range of applications", including freight and emergency rescue vehicles such as ambulances and military vehicles for disaster relief efforts.

He admits the process is complex, saying there won't be "one year where we flip a switch and it's all electric".

Beyond consumer vehicles, GM also introduced the Silent Utility Rover Universal Superstructure, or SURUS.

Newer lithium-ion batteries have drastically improved the capabilities of electrified vehicles and there are now dozens of hybrids, plug-ins and BEVs on the market, as well as three hydrogen fuel-cell vehicles. Be that as it may, she said GM was a little bashful about what the new vehicles will be and when they'll begin arriving.

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 introduced its first long-range EV, the Chevy Bolt, in December 2015.

To date, in the United States, pure battery-electric vehicles account for less than 1 percent of all vehicles sold.

The Bolt - marketed as an electric auto for everyone, not just early adopters and the tech-savvy - is the test mule driving the Detroit-based automaker's electric vehicle development, Mark Reuss, GM vice president of global product development, purchasing and supply chain, said at GM's technical center here.

GM also revealed a new battery architecture that it said would provide greater flexibility to engineer cars and trucks in response to customer demand.

GM earned more than 90 percent of its $12.5 billion in pretax profits previous year in North America, amid robust demand for its lineup of large sport utility vehicles and pickup trucks.

Along with variants of the Bolt, the company showed off three new concept vehicles that included a Cadillac crossover, a Buick-branded SUV, and a futuristic-looking Bolt EV concept auto, which represents GM's first foray into a wild new electric-powered body design. That's right - they think these 10 stocks are even better buys. The Motley Fool has a disclosure policy.

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