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GM Unveils New Weapon Against Tesla and Ford

by WOOWinvest
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GM Unveils New Weapon Against Tesla and Ford


General Motors (GM) – Get General Motors Corporation Report Is going all out to catch up with Tesla (TSLA) – Get Tesla Inc report and ford (F) – Get Ford Motor Company Report in the electric vehicle market.

The creative Detroit giant recently launched a program to track and study the driving habits of owners of the Cadillac Lyriq, its premium brand’s first electric model.

GM believes that analyzing how these customers use their vehicles will allow it to improve its products and services. In exchange for their partnership, the group is offering interested consumers a $5,500 car discount.

But the EV maker isn’t stopping there.

Electric Chevrolet Blazer

Through its Chevrolet brand, General Motors just unveiled a new electric vehicle with the stated goal of competing with Tesla and Ford. The new car is an electric version of the Chevrolet Blazer.

The electric Chevrolet Blazer is an SUV/crossover that comes in a variety of models, including the entry-level version, the 1LT, with a base price of $44,995. The performance variant, the SS, has 557 horsepower and 648 pound-feet of torque and has a base price of $65,995. GM also offers a law enforcement version.

The EV Blazer will sprint from 0 to 60 mph in less than 4 seconds, on par with the Tesla Model Y and Ford Mustang Mach-E in about 3.5 seconds.

The Tesla Model Y comes in two versions: a long-range version with a base price of $65,990 and a performance version of $69,990.

The Ford Mustang Mach-E is available in four versions, with a base price of $43,895 for the entry-level model and $61,995 for the GT Performance model.

Very important to consumers: The electric Chevrolet Blazer can travel 320 miles on a single charge.

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Again, that’s on par with the Tesla Model Y, which can go 318 miles on a single charge, and the Ford Mustang Mach-E, which can go 314 miles.

“The flexibility of the Ultium platform has enabled our design and engineering teams to develop the Blazer EV to deliver unprecedented performance and driving characteristics,” said Martin Hayes, chief engineer of the Blazer EV, in a press release.

The Blazer EV will be assembled at GM’s Ramos Arizpe plant in Mexico. The Ultium platform is a modular setup that will power various vehicles in the GM family.

busy and crowded market

The first Blazer EV units will arrive at dealerships next summer. The company said the entry-level version, the 1LT, will go on sale in the first quarter of 2024.

The electric Chevrolet Blazer will be the eighth electric model offered by GM. Others include the Chevrolet Bolt sedan and its SUV counterpart, the Bolt EUV; the GMC Hummer EV, the Cadillac Lyriq and the much-anticipated Cadillac Celestiq, which will be unveiled on July 22.

GM is also promising an electric version of the Chevrolet Silverado next spring, entering the lucrative electric pickup/truck segment. The automaker will launch a $30,000 entry-level electric SUV, the Chevrolet Equinox, to appeal to consumers interested in electric vehicles but put off by rising prices.

“In addition to the all-new Silverado EV and Equinox EV launching next year, we’ve made great strides in offering more options for zero-emission vehicles — options that make switching to EVs easier than ever,” said Vice President Scott Bell. President of Chevrolet.

Traffic congestion in the electric SUV segment could determine winners and losers in the U.S. auto market in the coming years, experts say.

The U.S. electric SUV market is expected to more than double to 2 million units a year by 2026, according to AutoForecast Solutions, which tracks automakers’ production plans.

AutoForecast Solutions and other analysts said more than 90 models could compete for a small piece of the pie.

LMC Automotive forecasts that by 2025, the Model Y will account for 15.6 percent of the 13-unit compact and midsize electric SUV segment, including Ford’s Mustang Mach-E, Hyundai Ioniq 5 and future SUV Rivian R2S. Chevrolet’s Blazer is expected to be in second place, accounting for 6.6% of segment sales.

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