But Reuss and others believe the company is positioned to make money in electric vehicles, despite delayed adoption from consumers.
“These emerging electric solutions reflect Meritor’s commitment to develop axle, suspension and brake technologies that support our technology roadmaps and future product plans based on our customers’ needs”, Craig said. That starts with two new, fully electric models next year-then at least 18 more by 2023.
Already well established in the niche market of green vehicles with its Chevrolet Volt and Bolt General Motors has just announced an ambitious plan of electrification of its range. In fact, each major auto show this year has had some large presentation or focus around an electrified vehicle for numerous world’s top brands.
“General Motors will move humanity forward in the future with all-electric propulsion”, Reuss said, the outlet reported. That amounts to 1 percent of the market. The others will include coupes, sedans, crossovers, SUVs, and possibly even pickups, GM told Design News . The company says that it will require battery electric and hydrogen fuel cell electric depending on the requirements. The profits from GM’s SUV line-up will be reportedly used to fuel company’s shift towards zero-emission vehicles.
China, GM’s largest market globally, is moving to cap carbon emissions by 2030, which means automakers will need battery-powered vehicles for the market.
For its part, Ford said it meant to accelerate its development of electric cars as part of a broader business strategy that will be laid out for Wall Street on Tuesday by its new chief executive, Jim Hackett.
On the one hand, because a company should look further than the tip of his nose and prepare for the future. “GM and Ford are now minting profits in the US with fuel-thirsty pickup trucks and sport-utility vehicles that consumers find enticing amid low gasoline prices”, Mike Colias points out in the Wall Street Journal.
General Motors will use the smash-success 2017 Chevrolet Bolt EV as a blueprint for more electric vehicle offerings in the future.
By 2020, Ford plans to produce an electric vehicle that can go 300 miles before needing to recharge, Marakby said. She said more details will be coming soon.
China has set a target that a minimum of 12 percent of cars should be hybrid or electric by 2020. Company officials did not say what companies would supply batteries for the larger fleet of vehicles promised by 2023. The announcements are driven by nation states announcing plans to ultimately ban vehicles powered by internal combustion engines. California is also on that list, although the U.S.is lagging on sustainable transportation policy at the national level.