GM Taunts Tesla with Promise of Profitable EVs

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CEO and Chairman Mary Barra revealed more details about the automaker's plans today, in which she confirmed that the next two electric vehicles will be electric crossovers.

Early last month, GM officials said the company planned to launch 20 new electric vehicles by 2023, without providing any specifics.

"We are working to provide desirable, obtainable and profitable vehicles that deliver a range of over 300 miles", Barra told investors at the Barclays 2017 Global Automotive Conference in NY.

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Electric as well as autonomous vehicles, which in the industry are known as EVs and AVs, continue to be widely seen as the main players in future transport, but Ford Motor, Tesla and other makers are working on how they will make money selling them.

The four new vehicles by 2020 won't be based on the new platform due by 2021, and will likely share some structure with the Bolt EV.

Obama's vision wasn't fulfilled, despite the $7,500 tax credit created to make the cars more affordable and lure EV buyers to showrooms, but GM CEO Mary Barra told analysts at the Barclays 2017 Global Automotive Conference in NY, that GM will hit the target by 2026 on a global basis. One of the cornerstones of Barra's plan is to develop an electric vehicle platform that can accommodate multiple vehicle types - from cars to SUVs. To help reduce costs and increase flexibility of the platform, she said the company is integrating the battery cells into the architecture. A spokesman for GM said the picture was a "demonstration of an all-new CUV segment", but not necessarily a new product.

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So GM is ready to up its investments towards building electric vehicles, knowing that they have the market as well as government policies to support that strategic shift. "Our focus is on the customer, so that means removing barriers for ownership".

GM also will expand its connected vehicle services such as OnStar and plans to launch a new in-vehicle feature called "marketplace" that allows users to "do things, to order things" more simply than with a smartphone.

The company is aiming to lower cost from $145 per kilowatt/hour to less than $100, by 2021.

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"Make no mistake, we are here to win", Barra said.

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