General Motors said pickup sales make up half of its North American revenue. That’s why it has big plans for the upcoming new GMC Hummer all-electric pickup.
GM will reveal the Hummer on May 20 and it will be the best on the market, the company promises.
“We’re here to win, not only compete,” said GM President Mark Reuss during GM’s annual Capital Markets Day on Wednesday. “Whether or not we are first on the market, I am confident we will be best on the market.”
Early last month, GM said its GMC truck brand would begin building a 1,000-horsepower electric Hummer truck in Detroit next year.
The pickup will reprise the retired Hummer brand’s recognizable looks but instead of its former gas-guzzling engine, the new vehicle will have a zero-emission electric drivetrain.
GM is spending $2.2 billion at its Detroit-Hamtramck assembly plant to produce the Hummer and other electric vehicles. It will be GM’s first EV-only plant and is expected to employ 2,200 when all vehicles are in production.
The Hummer is expected to go on sale in the second half of 2021. GM gave consumers a peak at it in a commercial during the second quarter of the Super Bowl on Sunday.
Reuss said the Hummer electric pickup will “change minds about what an EV can be when it’s revealed.”
For example, GM will offer it in one-motor, two-motor and three-motor versions, which will offer consumers ranges of performance at different price points, Reuss said.
“If the customer wants a basic package, we’ll have that,” said Reuss. “If the customer wants true off-road capability, and towing capability, we’ll have that, too.”
GM’s architecture underpinning the Hummer is scalable and can be used for multiple brands with multiple variants, said Reuss.
“We’ll be introducing multiple models a year, as market-responsive as we want to be,” he said.
GM will host an electric vehicle day March 4, and unveil the first all-electric Cadillac SUV in April. Mass production is to start in the second half of 2021. The names of the Cadillac electric vehicles will be words not alpha-numeric, Reuss said.
In other product news Wednesday, Reuss said GM will put its Super Cruise technology on 22 of its vehicles across all its brands by the end of 2023. GM will put the hands-free driving technology first on three of its vehicles this year, then on seven more next year and on 12 more over 2022 and 2023. The technology will go on full-size pickups and SUVs across GM, too, Reuss said. Super Cruise is currently available only on the Cadillac CT6 sedan.
Reuss’ comments came during an investor day event following GM’s fourth-quarter and year-end earnings results in which GM reported a significant hit in 2019 due to slowing sales in overseas markets and the 40-day UAW strike in the United States.
For the quarter, GM reported a net loss of $200 million, down from net income of $2 billion. For the year it was $6.7 billion, down from $8 billion compared to a year earlier.
But CEO Mary Barra told investors that GM is positioned to grow profits, even in a softer U.S. market this year and going forward, because of the cost-saving measures it took early last year in cutting some 4,000 white-collar jobs and idling three U.S. factories.
“We’re going to be disciplined with our capital,” said Barra. “We’re moving fast, the world is moving fast, our competitors are moving fast but we’re going to continue to execute.”
Contact Jamie L. LaReau at 313-222-2149 or firstname.lastname@example.org. Follow her on Twitter @jlareauan. Read more on General Motors and sign up for our autos newsletter