GM looks more like Tesla with latest announcement
American auto giant
is one of the most aggressively pushing traditional car manufacturers in
In its latest move, GM (ticker: GM) unveiled all-new electric vehicle engines that will power its EV models. The designs include a 180-kilowatt front-wheel drive motor, a 255-kilowatt front-drive and rear-drive motor, and a 62-kilowatt all-wheel-drive assist motor. A 180 kilowatt motor generates approximately 240 horsepower. The 255 kilowatt version produces the equivalent of about 340 horsepower.
The fastest electric vehicles these days, including the Tesla Edition (TSLA) Model S Plaid, have three motors, generating over 1,000 horsepower. Each Plaid engine, for example, develops around 350 horsepower, which is similar to the 255 kilowatt GM engine.
Tesla CEO Elon Musk is very proud of the motors Tesla has developed, bragging about the new S motors when the company launched the updated sedan in May.
He explained that the engines have an “over-wrapped” carbon rotor. It allows for faster acceleration by allowing the engine to run faster without breaking. It’s a change, but some things will stay the same. Motor heads will have a future by diving deep into electric motors, just as they do now, tearing carburetors apart.
“20 years of developing electric propulsion systems and over 100 years of high-volume vehicle engineering are helping GM move quickly from conventional vehicles to electric vehicles,” GM President Mark Reuss said in the statement. company press. “Our vertical integration into this space, encompassing both hardware and software, allows us to control our own destiny and have a significant competitive advantage. “
Car manufacturers are not going to outsource electric motors, just as they control the design and production of internal combustion engines today.
Tuesday’s announcement is another step in GM’s transformation. The company wants to have a fully electric range by 2035. The company has announced plans to spend around $ 35 billion between now and 2025 on the development of electric and autonomous vehicles. The spending will provide GM with its own battery manufacturing capacity, similar to Tesla’s, as well as 30 electric vehicle models in showrooms by 2025.
The vision is bold, but GM’s stock has been having a rough time lately. Stocks have fallen around 17% in the past three months, but still show an 18% gain year-to-date, similar to comparable gains in the
Dow Jones Industrial Average.
GM stock was rocked after the company gave a disappointing second-half-year earnings forecast in early August on its second-quarter earnings conference call. The global semiconductor shortage and Chevy Bolt recall weigh on results.
Write to Al Root at [email protected]