General Motors Confirms That Electric Versions of the Blazer & Equinox Are in the Works
U.S. automaker General Motors (GM) has big plans for its electrified future. The company plans to add up to 30 new EVs to its model lineup by 2025. At present, GM is second to only Tesla when it comes to EV sales in the U.S.
With its bold EV plans, the automaker aims to eventually overtake Tesla's EV sales. GM wants to double its annual revenues by 2030 by improving its EBIT adjusted margins as its transitions to its electric future.
Last week in a series of two-day investor meetings, GM shared its plans to become a leader in the U.S. EV market.
Although the company wants to be a frontrunner in the EV segment, GM is not shying away from its plans to increase its profits from internal combustion engine (ICE) vehicles alongside its EV development. The company intends to improve its profit margins from internal ICE vehicle sales in the interim, which for the most part includes highly profitable full-size pickups and SUVs.
Regarding its plans to overtake Tesla, GM plans to push out different EVs across vehicle segments in the coming years. Among the new models are all-electric versions of the Blazer SUV and Equinox crossover, along with another unnamed entry-level EV model.
These included a new Chevy branded SUV based on the Equinox, which might retail for around $30,000. The battery-powered Equinox will be GM's mass-volume product and for good reason. The Equinox crossover is GM's second best-selling model in the U.S. after the Silverado pickup.
GM also confirmed that it will introduce the all-electric version of the Silverado pickup at CES 2022.
GM President Mark Reuss also confirmed that GM is working on a new electric version of the Chevy Blazer SUV. Although Reuss refrained from sharing further details about the Blazer, he did confirm that it will be a smaller vehicle and will get a competitive price.
In addition to an electric version of the Equinox, the automaker will introduce new electric vehicles under its luxury brand Cadillac, which will include the upcoming Lyriq SUV and the flagship Celestiq electric sedan.
So far, GM has not revealed any additional information regarding the new electric crossovers. However, GM's Ultium EV platform will underpin the new models.
The automaker also said it will offer its Supercruise and the newest Ultra Cruise autonomous driving features in the upcoming EVs.
GM's future EVs will be built on the new Utium EV platform.
During last week's investor meetings, Reuss said GM will start setting up dedicated factories to build its new electric models, including trucks. By 2030 GM also plans to have more than half of its factories in North America and China set up for electric vehicle production.
To bring its plans to fruition, GM has promised to increase its investments in the EV segment to $35 billion by 2025.
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