Head of product development at the company Mark Reuss said that GM believes in an all-electric future. This announcement comes after GM launched its first mass-market electric vehicle. The Chevrolet Bolt EV was launched this year and the mid-sized hatchback comes with a 238 mile range on one charge. The car has a starting price of $36,000.
GM is looking to build its lineup of electric vehicles from this foundation. The company has also said that not all cars will use electric batteries. Some are expected to use hydrogen gas instead. The cars will combine compressed hydrogen gas and oxygen in order to produce the electricity needed to power the vehicle.
The auto industry has slowly and steadily started to shift towards electric vehicles. Many of the major carmakers have already laid down plans to go full electric in the near future.
The EV industry has made major strides in the recent years and continues to advance very quickly. Although Tesla was one of the first companies to break into the electric vehicles market, the two EV models (Model S and Model X) released by the California-based automaker have largely been considered luxury vehicles. The two electric cars start at a price of $70,000. Recently, Tesla released a low-cost option too for customers dubbed the Model 3 starting at $35,000.
However, the company has yet to catch up with Nissan. EV sales for the Japanese carmaker have eclipsed all other major car brands in the market with the popularity of the Nissan Leaf being very high at the moment.
The full electric vehicle starts at just $30,000, making it one of the cheapest options in the market. Nissan also confirmed that it was planning to fully redesign the Nissan Leaf in a move aimed at giving more value to their customers.
The design improvements are meant to increase the car’s range without necessarily affecting the price. The Japanese automaker will look to maintain the $30,000 starting price regardless of whatever additions it puts into the car. Many other major companies in the auto industry have made it clear that they plan to launch cheap electric vehicles too.
The Volkswagen Group and the Renault-Nissan-Mitsubishi Alliance are some of the major global carmakers that have plans to move towards electric cars. The Renault-Nissan-Mitsubishi Alliance, for example, has already committed to launching 12 new electric cars by 2022.
On the other hand, Volkswagen said that it hopes to have a hybrid version of all its car models by 2030. The German automaker is also creating all-electric cars that will include an electric version of its highly rated VW Microbus. It seems the future is electric and with the massive improvement in EV technology, it’s not hard to see why.