General Motors claims to have cracked the code for building cheaper electric vehicles than they currently offer. During the Barclay’s Investment conference, GM CEO Mary Barra said that their innovations in battery technology and other breakthroughs mean that they can build a more affordable electric car than their current Chevrolet Bolt EV, Forbes reports.
According to Forbes, GM plans to launch a new EV platform in 2021 which will lay the foundation for the release of 20 new electric vehicles by 2023. They expect these vehicles to be versatile enough to carry nine different body styles in various sizes, and brands for the U.S. market, China, and beyond.
But they aren’t just waiting on 2021 to release new electric vehicles. Barra told the conference that GM plans to continue to develop the Chevrolet Bolt platform and release three new EVs by 2020. Two of these vehicles will be crossovers and they will share features already offered in the Bolt EV.
As Forbes notes, all of this sounds like a warning shot for Tesla Motors and a plan to overshadow their release of their mass-market EV, the Tesla Model 3.
The Model 3 manufacturer has been beset by problems of late and competitors like GM and Daimler (Mercedes) seem to be using that to their advantage.
As the Inquisitr previously reported, Tesla CEO Elon Musk has admitted that the Model 3 is in production hell. Apparently the “production bottleneck” stems from an issue with the automated equipment at their Gigafactory in Nevada. Tesla recently acquired Perbix Machine Company, a firm that specializes in advanced automated manufacturing equipment. There’s speculation that the purchase was made to help solve some of the Model 3’s production issues.
Tesla suppliers have also revealed that the premium electric automaker has slashed parts orders for the Model 3. One supplier said that their orders were cut by 40 percent and that another order was pushed back by a couple months.
Tesla’s planned crossover version of the Model 3, the Model Y, could be a competitor for the EVs that GM plans to introduce by 2020. But according to Seeking Alpha, Tesla first has to build a factory for it and test a new manufacturing system. They estimate that the Model Y will be ready by 2022 and not 2021, as was originally projected.
So, there’s a chance that GM will be first to market with their crossovers, two years before Tesla which may not be good news for Elon Musk and Co.
[Featured Image by GM Corporate Newsroom]