General Motors to Roll Out Two Electric Cars

In the next 18 months, GM says, the company will introduce two new all-electric vehicles based off learnings from the Chevrolet Bolt EV. GM said that it will launch at least 20 all-electric vehicles by 2023, with the first two coming soon.

"General Motors believes in an all-electric future", GM global product development chief Mark Reuss said during a briefing at the company's suburban Detroit technical center.

GM has previously announced plans to make some of its future electric vehicles capable of driving themselves in robot taxi fleets.

The automaker also introduced SURUS (Silent Utility Rover Universal Superstructure), a fuel cell powered, four-wheel concept based on a heavy-duty truck frame that's driven by two electric motors.

She also added that GM will help with "accelerating" the deployment of rapid-charging stations for its customers. He said that by the 2023 target date for the new electric models, GM will still be building cars, trucks and SUVs with internal combustion engines. With its capability and flexible architecture, SURUS could be used as a delivery vehicle, truck or even an ambulance-all emissions free.

GM is intentionally being vague about its plans for switching to an all-electric powertrain strategy, but it is clearly planning to amp up its offerings in the relative near-term. Musk has said Tesla plans to produce 500,000 electric cars annually by the end of 2018, and 1 million by 2020, though so far it operates just one factory, the former GM-Toyota joint venture that never built more than 430,000 per year.

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Shares of General Motors (NYSE: GM) jumped on Monday, after the Detroit auto giant announced that it had an expanded electric-vehicle development program well underway.

The platform is powered by GM's newest fuel cell system.

China has just laid out new guidelines for alternative propulsion and is now the world's biggest market for electrified vehicles.

The company's all-electric Chevy Bolt went on sale earlier this year in California and select markets and has recently begun nationwide sales. Tata's rival in the market, Mahindra - now the only company manufacturing electric vehicles in India - lost the bid.

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