General Motors Company’s (GM) Chevrolet brand has introduced the new 2016 Volt electric car at the Detroit auto show. This vehicle can travel 50 miles on a single charge and offers a sleeker and sportier design along with higher efficiency and better acceleration.
General Motors has stated that the 2016 Volt can travel 400 miles on gas after the charge of the battery is fully exhausted. The vehicle offers an average of 41 miles per gallon. However, the current model of the electric Volt only travels 38 miles on a single charge. With the new version, the automaker believes that it has developed the most capable plug-in vehicle in the industry.
General Motors will be selling the 2016 Volt from the second half of 2015. The 2016 Volt’s technology and higher range are complemented by the better design, aerodynamic efficiency and new interiors. Along with improved functionality, the vehicle offers seating arrangement for five. In addition, it is also equipped with safety features including standard rear-vision camera, driver and front-passenger knee air bags, lane departure warning, side blind zone alert with lane change alert, rear cross traffic alert, forward collision alert, front automatic braking and advanced park assist.
The 2016 Volt features 18.4 kWh battery systems with revised cell chemistry. In addition, the vehicle is equipped with the two-motor drive unit, which offers enhanced efficiency and performance along with reduced noise and vibration. Usage of both the motors improves the electric acceleration. In addition, charging the battery of the vehicle is very convenient.
General Motors is investing $435 million for the production of this car. The company will be producing the 2016 Volt in the Detroit-Hamtramck Assembly Plant and at the Brownstown, MI Battery Assembly Plant, where the company’s lithium-ion battery pack is produced. The drive unit will be produced at the Powertrain plant in Warren, MI, and the 1.5L engine at the company’s Toluca, Mexico engine plant. After the first year, engine production will be shifted to the Flint, MI engine plant.
General Motors also plans to launch the Chevrolet Bolt in 2017. This will be an affordable electric vehicle which will travel 200 miles on a single charge. The company expects the starting price of the vehicle to be $30,000.
General Motors’ Bolt will provide tough competition to Tesla Motors, Inc.’s (TSLA) Model 3, starting at $35,000, which will also travel 200 miles on a single charge and Nissan Motor Co. Ltd.’s (NSANY) Leaf, which is priced at $30,000 and travels 100 miles.
General Motors is a Zacks Rank #3 (Hold) stock. Investors interested in the auto industry could consider PACCAR Inc. (PCAR), carrying a Zacks Rank #2 (Buy).
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