GM Shares Plan to Beat Tesla in EVs
March 11, 2020—General Motors unveiled 11 new electric cars to media this week with the goal of making sure EVs are profitable for the automaker, reported The Detroit Free Press.
The company wants to drive economies of scale and create new revenue opportunities.
The manufacturer has developed a new electric car battery module that will reduce the cost to make batteries. GM's global platform allows the cars to have a better charging time and more range than current electric vehicles have. The Ultium batteries will have 60 percent more capacity for power than the current batteries used in the Chevrolet Bolt.
The soonest advancement of the announcement will come later this year when the automaker launches a new version of the Chevrolet Bolt.