General Motors Co is all set to make the announcement on starting the production of its interchangeable “family” of electric vehicle drive system and motors as published by MarketScreener. It is uplifting the manufacturing efficiencies to transform to an entirely electric lineup.
- The move is a follow-up to the GM’s initiatives on next-generation batteries to build an integrated car business similar to that of the Tesla.
- The automaker has designed and plans to manufacture its own five interchangeable drive units in addition to the three motor units and termed it as “Ultium Drive.”
- With this news, the stock price of Tesla is down to 2%.
- The new technology represents the efforts of GM to transition itself and draw level with Tesla as the share price has jumped over 400% this year.
General Motor is already in partnership with EV truck startup Nikola Corp, but has chosen to start its own e-drive technology. The executive chief engineer said that GM could better integrate the e-axles with an EV’s battery and the car.
Previously: TESLA’S RIVAL OFFICIALLY. NIKOLA DECLARES STRATEGIC PARTNERSHIP WITH GENERAL MOTORS.