Detroit’s Big Three automakers are looking to a battery-powered future, but each is forging its own path

A General Motors Co. Chevrolet Volt electric vehicle on display at the Seoul Motor Show in Goyang, South Korea, on Thursday, March 28, 2019. DETROIT – After years of skepticism about the potential demand for electric vehicles – and their long-term profitability – the domestic auto manufacturers have increasingly come to accept that battery power will underlie the industry’s long-term future. For its part, the second-largest of the Detroit Big Three plans to invest $11.5 billion in its own electr


A General Motors Co. Chevrolet Volt electric vehicle on display at the Seoul Motor Show in Goyang, South Korea, on Thursday, March 28, 2019.
DETROIT – After years of skepticism about the potential demand for electric vehicles – and their long-term profitability – the domestic auto manufacturers have increasingly come to accept that battery power will underlie the industry’s long-term future.
For its part, the second-largest of the Detroit Big Three plans to invest $11.5 billion in its own electr
Detroit’s Big Three automakers are looking to a battery-powered future, but each is forging its own path Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-08  Authors: paul a eisenstein
Keywords: news, cnbc, companies, automakers, electric, vehicles, vehicle, looking, allelectric, plugin, path, longrange, hybrids, chevrolet, detroits, big, domestic, forging, future, batterypowered


Detroit's Big Three automakers are looking to a battery-powered future, but each is forging its own path

A General Motors Co. Chevrolet Volt electric vehicle on display at the Seoul Motor Show in Goyang, South Korea, on Thursday, March 28, 2019.

DETROIT – After years of skepticism about the potential demand for electric vehicles – and their long-term profitability – the domestic auto manufacturers have increasingly come to accept that battery power will underlie the industry’s long-term future.

General Motors said Thursday it will team up with Korean supplier LG Chem to build a new $2.3 billion battery plant in Lordstown, Ohio, a joint venture that will help power at least 20 all-electric vehicles the Motown manufacturer plans to have in production by 2023.

Thursday’s announcement comes just weeks after cross-town rival Ford Motor revealed its first long-range battery-electric vehicle, the Mustang Mach-E, set to go on sale next autumn. For its part, the second-largest of the Detroit Big Three plans to invest $11.5 billion in its own electrification program.

As for Fiat Chrysler, the smallest of the domestic carmakers has long been the laggard in EV development – its former CEO once asking customers not to buy its only all-electric model. But, a senior executive now tells CNBC there will be “a lot of (battery-based) product coming” over the next several years.

Together, Detroit’s Big Three intend to spend tens of billions dollars on battery-cars over the coming decade. But where they’ve traditionally taken relatively similar approaches to cope with changing market trends, each manufacturer is following its “own unique path” this time, said Ron Cogan, an automotive analyst and publisher of Green Car Journal. That reflects the reality that no one yet has a clear idea of how battery technology will evolve, nor how it will be accepted by consumers.

Nowhere are those differences more apparent than in the directions being taken by the two biggest domestic companies.

GM was an early player in battery-car development with its all-electric EV1 produced between 1996 and 1999. It would take another 17 years before its first long-range BEV, the Chevrolet Bolt, reached showrooms but, in the intervening years, it added an assortment of hybrids, including the first mass-market plug-in, the Chevrolet Volt.

Ford followed a similar path, at least initially, with an all-electric Ranger debuting in the mid-1990s and, since then, a mix of short-range BEVs, PHEVs and conventional hybrids.

But, as the decade draws to a close, their paths are rapidly diverging.

For one thing, GM is killing off the Chevy Volt plug-in, while the all-electric Bolt has become the foundation of what CEO Mary Barra on Thursday called “a path to an all-electric future.”

“A fairly large chunk of our products in the next three to seven years will be electric vehicles,” Rick Spina, GM’s vice president of electric and autonomous vehicle programs, told CNBC in a telephone interview late last month. “We’re very heavily biased towards EVs,” long-range models, in particular, with hybrids and plug-in hybrids set to phase out of its line-up, he said.


Company: cnbc, Activity: cnbc, Date: 2019-12-08  Authors: paul a eisenstein
Keywords: news, cnbc, companies, automakers, electric, vehicles, vehicle, looking, allelectric, plugin, path, longrange, hybrids, chevrolet, detroits, big, domestic, forging, future, batterypowered


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The Budgetnista’s 5 tips to still have fun while in debt

3 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Tiffany “The Budgetnista” Aliche has 5 tips to help you still have fun while in debt.


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The Budgetnista’s 3 tips to build the perfect budget for your lifestyle

1 Hour AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Tiffany “The Budgetnista” Aliche has 3 tips to help you build the perfect budget.


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Why you should invest for retirement when everything feels pointless

1 Hour AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Erin Lowry, author of “Broke Millennial Takes On Investing,” explains why you should save for retirement.


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Erin Lowry, author of “Broke Millennial Takes On Investing,” explains why you should save for retirement.


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Best friends confess their most intimate money secrets

30 Mins AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. These five pairs of best friends reveal everything from student loan debt to dating for free meals.


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Best friends confess their most intimate money secrets

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Inside Elaine’s ‘Seinfeld’ NYC townhouse listed for $8 million

1 Hour AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Take a look inside the $8 million NYC townhouse that was used as the exterior of Elaine Benes’ apartment in “Seinfeld.”


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Inside Elaine's 'Seinfeld' NYC townhouse listed for $8 million

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Look inside Tom Brady and Gisele Bundchen’s Boston mansion

1 Hour AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Take a look inside Tom Brady and Gisele Bundchen’s Boston-area mansion. The home was custom built for the couple and is up for sale for $33.9 million.


1 Hour AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Take a look inside Tom Brady and Gisele Bundchen’s Boston-area mansion. The home was custom built for the couple and is up for sale for $33.9 million.
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Look inside Tom Brady and Gisele Bundchen's Boston mansion

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Take a look inside Tom Brady and Gisele Bundchen’s Boston-area mansion. The home was custom built for the couple and is up for sale for $33.9 million.


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How this $1,000/hour hypnotist helps CEOs find success

4 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. CEOs, politicians and celebrities go to hypnotist Kimberly Friedmutter when they need a boost in their careers. Now you can test her performance-enhancing exercises too.


4 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. CEOs, politicians and celebrities go to hypnotist Kimberly Friedmutter when they need a boost in their careers. Now you can test her performance-enhancing exercises too.
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How this $1,000/hour hypnotist helps CEOs find success

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CEOs, politicians and celebrities go to hypnotist Kimberly Friedmutter when they need a boost in their careers. Now you can test her performance-enhancing exercises too.


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56 Mins AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. From the outside these four homes are not at all what they seem.


56 Mins AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. From the outside these four homes are not at all what they seem.
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4 mansions with incredible secrets buried underneath them

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From the outside these four homes are not at all what they seem.


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Jay Leno: Elon Musk is a ‘visionary’

20 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Jay Leno says that Tesla founder Elon Musk is paving the way for the future of cars and calls him a ‘visionary.’


20 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Jay Leno says that Tesla founder Elon Musk is paving the way for the future of cars and calls him a ‘visionary.’
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Jay Leno: Elon Musk is a 'visionary'

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Jay Leno says that Tesla founder Elon Musk is paving the way for the future of cars and calls him a ‘visionary.’


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