General Motors Makes Its Move in the Luxury Electric Market
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Electric Automotive Space Heating Up
General Motors ($GM) has been making solid plans to face the electric vehicle brigade. The revolution has begun, and though Tesla ($TSLA) has been the pioneer, other manufacturers are catching up fast, as proved by the fact that many of these have entered the FIA Formula E electric racing championship to perfect their technology.
Audi (part of Volkswagen Group) is significantly ahead, BMW already has its atrociously expensive i8, Jaguar has launched the I-Pace which incidentally has sold more than all other automobile models in the Netherlands, and Mercedes-Benz and Renault-Nissan are all planning electric models. There could soon come a time in the not too distant future when electric vehicles dominate the streets. It's not too surprising, butis indeed essential, that one of the largest automakers in the world comes up with a tangible prototype so as not to be left behind.
GM Moving Ahead with Luxury Electric Vehicle
As you'd know, GM has many brands in its arsenal. And it has chosen to take the luxury step towards electric mobility like Tesla, Jaguar and BMW. Affordable electric mobility is the ultimate goal of governments and environmental organizations, but perhaps the step to that goal seems to be through the well-healed. This really is no surprise since electric mobility technology is expensive. In due course the technology could be perfected and made a lot cheaper, but for now electric mobility seems to be taking off in the luxury automobile industry. GM has announced that its luxury brand Cadillac will be spearheading the electric vehicle charge. It has revealed that it is developing an SUV that will be its first vehicle for using its electric technology platform called BEV3.
There are only renderings for now that seem to indicate a crossover styling, a blend of SUV and sedan. The renderings were revealed during the launch of the Cadillac XT6. The design seems to have the current design theme of the Cadillac brand but a further evolved form of the theme to provide a futuristic appearance.
The Competitive BEV3 Modular Vehicle Architecture
The BEV3 modular vehicle architecture has been designed by GM for battery-electric vehicles. The great thing about modular architecture is that it can be used to design a variety of vehicles, be they sedans, hatchbacks or SUVs, with front wheel drive, rear wheel drive or all-wheel drive configurations. The platform can also accommodate battery packs of various sizes.
The BEV3 architecture is also efficient because of its battery system which is a new, energy-dense design, unlike what was used in the Chevy Bolt EV, GM's first electric vehicle. The new flexible design enables battery packs to be thinner. The technology is also cheaper, with the cell costexpected to dip to a little less than $100 per kilowatt-hour.
So it appears that General Motors has placed itself in a great position to face its competitors in the EV market, and perhaps even get one better than them. That makes it a promising stock.
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