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Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

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Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

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Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

GM’s Future: 20 All-Electric Vehicles by 2023

By
Kirsten Korosec
Kirsten Korosec
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By
Kirsten Korosec
Kirsten Korosec
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October 2, 2017, 1:44 PM ET

GM plans to launch 20 new all-electric vehicles by 2023—two of which will be introduced in the next 18 months, the automaker announced on Monday at a press conference in Detroit.

The first two electric vehicles will be based off “learnings” from the Chevrolet Bolt EV. First released in California and Oregon in December of 2016, the electric car became available in all 50 states this August.

The Chevy Bolt EV starts at $35,000 before federal tax credit and gets 238 miles on a single charge. The base model of rival Tesla’s mass-market car, the Model 3, gets 220 miles to a single charge.

“General Motors believes in an all-electric future,” Mark Reuss, GM executive vice president of product development, purchasing and supply chain, said in a statement. “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.”

There are some nuances in GM’s announcement that are worth highlighting. Unlike other automakers such as Daimler, Volkswagen, and Volvo, GM is not committing to a broad electrification of its entire portfolio. That said, GM’s 20 new electric vehicles really will be “all electric,” as opposed to “electrified.” (It’s an important distinction, as “electrified” can mean a gas-electric hybrid or plug-in hybrid.)

GM also upped its commitment to hydrogen fuel cell electric vehicles on Monday. The company says it’s two-pronged approach to electrification includes SURUS, an acronym for Silent Utility Rover Universal Superstructure. This vehicle type would be powered by a fuel cell and have a heavy-duty truck frame driven by two electric motors. It could be used as a delivery vehicle, truck, or even an ambulance, GM said.

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By Kirsten Korosec
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