The main headlines of Fox Business Flash are here. Check out what is clicking on FoxBusiness.com.
General Motors’ shares closed higher on Tuesday after a virtual presentation at CES that presented a comprehensive view of its electric and autonomous future and even included a flying car.
The presentation, presented by CEO Mary Barra, comes after the automaker unveiled a new logo and brand identity in order to evoke a new era for the company.
Barra also highlighted GM’s response to the coronavirus pandemic and support for social justice causes.
Barra said GM was at an inflection point and reiterated its commitment to eventually become a fully electric carmaker and to present 30 battery-powered models worldwide by 2025, many of which were tried and tested during the event.
Actions in this article
The key to the transformation is the automaker’s Ultium battery technology, which GM Lab Group manager Mei Cai said will soon have 60% more power capacity and cost 60% less than the current Chevrolet Bolt packages.
Chevrolet vehicles include a pickup truck, a compact crossover and a high-performance model, while three battery-powered Buicks are planned alongside several Cadillacs and the GMC HUMMER EV and SUV pickup.
DISCOVER FOX BUSINESS ON THE MOVE BY CLICKING HERE
GM is also adding its assistance to the Super Cruise driver with a speakerphone for 22 vehicles by 2023, including the Chevrolet Bolt EUV crossover that will go on sale this year. The system allows operation without intervention with human supervision under certain circumstances. GM’s cruise division also reported continued progress in deploying its fully autonomous test vehicles on the streets of San Francisco.
In addition to outlining the transition of its existing major brands, GM announced the creation of a new commercial division called BrightDrop that will sell an electric van called EV600, the electrically assisted pallet EP1 and a fleet management system to accompany them.
Simcoe also unveiled an incredible concept for a flying autonomous Cadillac drone that could be deployed in an urban taxi service and an autonomous Cadillac luxury van as part of a so-called Halo Portfolio presenting future ideas.