Current Events > General Motors to compete with Tesla, Chevy Bolt vs Model 3. Elon did it!

(+) Yeah! (+)

https://www.thestreet.com/investing/will-gm-squeeze-tesla-with-chevy-bolt--14619701

A few months ago, General Motors Co. (GM - Get Report) told investors that it would increase production of the Chevy Bolt.

Starting near $36,000 with a near-240 mile driving range, the Bolt is viewed by many in the industry as a serious competitor to the Model 3 from Tesla Inc. (TSLA - Get Report) .

Given Tesla's production woes and the decades of experience (and far deeper pockets) that GM has, it could be a formidable matchup. A recent analyst observation showed that deliveries of the Model 3 are growing much quicker than expected, but it doesn't look like Tesla will be the only automaker upping its electric vehicle output.

Speaking at GM's annual shareholder meeting on June 12, CEO Mary Barra again reiterated the company's goals, saying "we are committed to an all-EV future and continue to work in that direction." The automaker said in a statement it would increase production of its Bolt model to meet global demand. The company also said it would launch 20 new zero-emission vehicles by 2023 globally.

Given GM's size and operations in China and the country's new-found thirst for electric vehicles, this market is sure to be a focus for General Motors and its push for electric vehicle adoption.

So while the Bolt may be aimed more directly at the Model 3, it's clear GM isn't going to stand by idly in the revolution of automobiles. SoftBank (SFTBY) pouring in more than $2 billion into GM Cruise (along with another $1.1 billion from GM) for its autonomous driving efforts, along with its push into electric vehicles, shows that GM is serious about the future.

Elon Musk and Tesla succeeded in their stated mission of forcing the automotive industry to change and to adopt electric vehicles. EVs are becoming the standard. Another few years and we'll see EVs that hit 400+ miles per charge, with each charge costing just a couple of dollars.

It's truly amazing to have grown up watching "Who Killed The Electric Car" in high school to seeing EVs make such an amazing comeback in so little time.
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Lol, Chevy

Peter_Giffyndor posted...

Lol, Chevy

Blocked.
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