General Motors (GM), one of the three major American automobile manufacturers, said that it plans to go all electric. It also said that, over the next 18 months, it plans to release two brand new electric vehicles. Also, in the next six years, it plans to launch 20 more electric vehicles.

According to Mark Reuss, General Motors’ head of product development, GM visualises and believes in a future that is all electric. GM recently launched, the Chevrolet Bolt EV, its very first electric vehicle in the mass market, which is an electric, medium-sized hatchback. It has a range of 238 miles on a full charge, and it is expected to hit the market at $36,000 as the starting price. According to the automaker, designers and engineers will expand and diversify from there. The automaker also stated that all of GM’s electric vehicles will not run on batteries; a few electric vehicles will use hydrogen gas to power up their engines instead. Electricity is produced by combining oxygen with compressed hydrogen gas, which is used in fuel cell vehicles.

According to an Executive Analyst at Kelley Blue Book, the automobile industry is persistently shifting its gear towards electric vehicles, and a lot of automakers are jumping on the bandwagon. Analyst also stated that there is rapid advancement in technology, and a lot more is expected. Tesla, a popular automaker based in California, was one of the firsts to venture into the electrical vehicles market. But the company’s Model S and Model X are luxury cars with exorbitant prices starting from $70,000. Tesla recently presented the Model 3 with a price tag of $35,000 just like the price of the Bolt. This model is available across the nation. However, Nissan is leading the sales in electric cars with its Nissan Leaf whose starting price is $30,000. Recently, Nissan notified a refashioned version of Nissan Leaf, with a longer range, which happens to be cheaper than Tesla’s Model 3.

The Renault-Nissan-Mitsubishi Alliance, the Volkswagen Group and several other automobile manufacturers have decided to lay out plans to move towards the electric cars venture. By 2022, the Renault-Nissan-Mitsubishi Alliance plans to roll out 12 new electric vehicles.

By the year 2030, Volkswagen plans to launch electric or hybrid versions of all its models. It also plans to initiate an all-electric sub-brand. This sub-brand will comprise an electric model of the legendary VW microbus.

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Thomas Mark holds over two decades of experience in the field of Information Technology and specializes in setting up global R&D and innovation strategies. With his innovative approach in developing strategies for innovation, he offers thought leadership programs and pursues strategies for engagement with leading players in the industry on innovation in Information and Technology. He currently works as a Freelance Business Consultant and also writes for leading news publications to offer his views on the recent innovations in the industry.

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