General Motors Provides First Look into the Future of Affordable EVs

A month ago, just after President Biden signed a slew of executive orders aimed at fighting climate change, which included the initiative to replace the entire fleet of federal vehicles with clean, electric versions, General Motors (GM) made a similar proclamation of their own to become carbon neutral by 2040, at which the company will only manufacture electric vehicles.

And now, customers are getting their first look at the next generation of GM cars, as the automaker says it’s preparing to release two Chevrolet Bolt models this summer ahead of a flagship $113,000 GMC Hummer EV later in this year.

The all-electric Bolts will both start at under $34,000, making entry into the EV market much more attainable to the average car buyer than it’s been with companies like Tesla (TSLA). The Bolt marks the beginning of what GM hopes will eventually be a full lineup of “affordable” EVs as the company builds scale to reduce costs of its next-generation electric vehicles such as the Hummer with new battery systems and platforms, according to Jesse Ortega, chief engineer of GM’s battery electric vehicle architectures:

“If you take a look at what the GMC Hummer EV represents and what the Bolt EVs in the body can be represented. That gives us really the solid bookends of what we’re capable.”

All three vehicles are part of the automaker’s $27 billion investment in the EV space, which includes plans to launch 30 new or redesigned EVs through 2025.

Originally published by CNBC.com

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