General Motors Co. (GM) - Get Report announced its intended course to achieve a zero emissions future with two new all-electric models in the next 18 months and at least 20 all-electric models launched by 2023.
The company said the two models to be unveiled in the near future are designed based on "learnings" from the Chevrolet Bolt electric vehicle first released in 2015. GM's outline for zero emissions consists of two approaches to changing technology: battery electric models and hydrogen fuel cell electric models, depending on the "unique requirements" of the vehicles.
"General Motors believes in an all-electric future," executive VP of product development, purchasing and supply chain Mark Reuss said. "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."
In the same statement Monday, Oct. 2, GM announced SURUS, the Silent Utility Rover Universal Superstructure. SURUS is a fuel cell powered, four-wheel steer concept vehicle on a heavy-duty truck frame that's driven by two electric motors, GM said. The concept model could be used as a delivery vehicle, truck or even ambulance, all without emissions.
GM stock moved higher 4% to $41.99 in midday trading following a rosy outlook on its autonomous vehicle program from Deutsche Bank analysts. Tesla (TSLA) - Get Report shares traded slightly down on the news.
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