GM to release plug-in hybrid vehicles, backtracking on product plans

Detroit – General Motors The company is changing its product lineup strategy to include plug-in hybrid electric vehicles, Chief Executive Mary Barra told investors on Tuesday.

Barra did not reveal specific details of the plan, saying only that plug-in hybrids, which include internal combustion engines and battery technology, would be available on “select vehicles” in North America to help meet stricter federal fuel economy regulations. .

A growing number of companies are rethinking the viability of hybrid vehicles to meet consumer demand and avoid costly penalties associated with federal fuel economy and emissions standards. Most of GM’s major competitors offer conventional hybrid vehicles as well as plug-in hybrid electric vehicles.

“Let me be clear, GM remains committed to eliminating emissions from light-duty vehicles by 2035, but in the interim, deploying plug-in technology in strategic areas will bring some of the environmental or environmental benefits of electric vehicles as the nation continues to build out charging infrastructure,” Barra said in the automaker’s quarterly report. 2023 Earnings Conference Call.

Barra mentioned the automaker’s use of plug-in hybrid vehicle technology, which the company has already adopted in overseas countries such as China. The only hybrid GM currently offers in the U.S. is a conventional hybrid version of the Chevrolet Corvette.

General Motors led the development of plug-in electric vehicles in the 2010s with the Chevrolet Volt. The company discontinued the model in early 2019, citing demand and cost issues.

This shift in strategy is counterintuitive to the industry’s recent messaging around electric vehicles. Many car companies have begun investing billions of dollars in all-electric vehicles, and the Biden administration is pushing to get more electric vehicles on U.S. roads as soon as possible.