General Motors plans to get around Tesla in the electric car market

General Motors plans to get around Tesla in the electric car market

March 9, 2020 0 By autotimesnews

General Motors (GM) has announced its intention to invest $ 20 billion in a new modular platform for electric vehicles and new batteries.

Despite the coronavirus and the general decline in the global car market, Ilon Mask’s share price continues to rise, so most experts say GM is unable to withstand Tesla. At the beginning of March this year, the latter is estimated at 144 billion dollars against 45 billion GM.

However, at their latest presentation, GM representatives spoke about a new modular platform for electric vehicles, which will feature low-cost, high-capacity Ultium batteries. The design features of the new battery pack will allow it to be placed both horizontally and vertically. The declared capacity will be 50 – 200 kWh, which will provide, according to GM, a range of up to 650 km. The new batteries will be made of aluminum, nickel, cobalt and magnesium, which reduces the cost of the battery to less than $ 100 per kWh.

According to General Motors, by 2023 it will produce at least 23 all-electric cars, three of which will debut in the near future: in April, the Cadillac Lyriq EV crossover and two Hummer GMC EV SUVs in May. After that, Cruise Origin – an electric car with autopilot will be presented. GM has also set aside an impressive investment in upgrading production capacities for electric vehicles.