General Motors to provide most in-depth look yet at its all-electric vehicle plans in bid to convince Wall Street it can take on Tesla
GM, Reuss has said, plans to introduce multiple models a year in multiple markets, as demand dictates. That includes leveraging its truck expertise for a new line of all-electric trucks and SUVs such as the Hummer EV.
Credit Suisse's Dan Levy described the "EV Day" as a "key update" for GM, which he believes has an advantage over other traditional automakers regarding EVs. In January, GM previewed a crossover that is expected to be Cadillac's first all-electric vehicle on the company' next-generation all-electric vehicle architecture.Levy, in an investor note Monday, said that "the push to an EV world will be tough for all legacy … including GM." He cited reducing battery pack costs, downsizing engine and transmission plants and balancing budgets
"All the factors above challenging legacy automakers in the push to an electric world certainly apply to GM," he said. "And even though we expect GM to lay out a solid strategy at its EV day, we believe the ultimate proof-point of success in GM's EV strategy is if the volumes materialize and GM is able to challenge Tesla for share in the US EV market, as Tesla has been until now the only game in town in the US EV market.
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