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GM: New EV platform to debut in 2021, reduce costs 30%

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The details come more than a month after GM disclosed it plans to launch at least 20 new all-electric and hydrogen fuel cell vehicles globally by 2023. Pictured is the Chevy Bolt EV. Photo credit: Reuters

DETROIT — General Motors plans its global EV volume to be 1 million vehicles by 2026, driven by a reduction in cost for its next-generation EV platform that’s due in 2021.

GM expects the cells for the second-generation EV platform, which could exceed 300 miles in range, to cost less than $100 per kilowatt-hour, down from $145 per kWh for the current platform. That will drive total per-unit cost of the vehicles down by 30 percent or more, according to GM.

The new modular EV platform is expected to be used for several segments and GM brands.

Those plans are among the topics GM CEO Mary Barra is expected to discuss with investors Wednesday at the Barclays 2017 Global Automotive Conference in New York, according to her slide presentation.

The details come more than a month after GM disclosed it plans to launch at least 20 new all-electric and hydrogen fuel cell vehicles globally by 2023, including two in the next 17 months.

GM’s shares were down 1 percent to $42.56 in midmorning trading.

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