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New upcoming electric cars in India in 2024

<ul class="summary-list"><li>GM launches its first <keyword id="45405" type="COMPANY" weightage="60" keywordseo="Hummer">Hummer</keyword> since 2010, with two new <keyword id="186291" type="ORGANIZATION" weightage="60" keywordseo="EV">EV</keyword> models.</li><li>The base model of the <keyword id="45454" type="COMPANY" weightage="60" keywordseo="SUV">SUV</keyword> will cost around $80,000.</li><li>The company had already announced its <a href="https://www.cnbc.com/2020/10/20/gm-unveils-hummer-ev-as-worlds-first-supertruck-for-112600.html">upcoming EV Hummer pickup,</a> which is due in the fall.</li></ul>General Motors has doubled up on its electric vehicle (EV) offering with an announcement on Saturday of its second all-electric Hummers.GM already announced its <a href="https://www.cnbc.com/2020/10/20/gm-unveils-hummer-ev-as-worlds-first-supertruck-for-112600.html">upcoming EV Hummer pickup,</a> which is scheduled to go on sale this fall - its first model of the American classic in 11 years.Hummer is the latest brand to jump on the electrification bandwagon, with Volkswagen also gearing up to take on Tesla with its <a href="https://www.businessinsider.com/volkswagen-tesla-mission-t-porsche-race-engineer-audi-diess-board-2020-12">Mission T project.</a>Herbert Diess, Volkswagen's CEO, has committed to offering a fully electric vehicle for each of its stable of brands, including Audi, Bentley, and Porsche, by 2025.Duncan Aldred, global vice president of GMC, said in a statement: "The GMC Hummer EVs were envisioned to be the most capable and compelling electric supertrucks ever."Following a similar pricing structure to that of the pickup, the base model SUV comes in at about $80,000. A special Edition 1 launch model - with its "extreme off-road package"- costs $110,595.Pricing varies based on the range and battery size of the vehicle.GM said it will produce the highest-priced models in early 2023, with the less expensive versions coming in spring 2024.Hummer's EV Edition 1 pickup coming this falls has already sold out. It <a href="https://www.cnbc.com/2020/02/01/general-motors-playing-to-its-strengths-with-the-gmc-hummer-ev-pickup.html">starts at $112,595.</a><div type="image" title="2020 hummer ev reveal infinityroof 013 GMC Hummer BT1XX FN RoofOFF v1 1" height="806" width="1613" msid="81899276" hostid="261"></div>The base model SUV's range is estimated to be around 250 miles to 300-plus miles, depending on the model.The <keyword id="9196948" type="UNKNOWN" weightage="60" keywordseo="Hummer-EV">Hummer EV</keyword> SUV debuted during an ad narrated by NBA star LeBron James during the NCAA's Final Four game between the Baylor Bears and Houston Cougars on CBS.<div type="image" title="FILE PHOTO: Tesla CEO Elon Musk unveils the Cybertruck at the TeslaDesign Studio in Hawthorne, Calif. The cracked window glass occurred during a demonstration on the strength of the glass.Mandatory Credit: Robert Hanashiro-USA TODAY/File Photo" height="2839" width="5679" msid="81899278" hostid="261"></div>These latest Hummer models will be competing against several other vehicles, including Tesla's '<a href="https://www.businessinsider.com/tesla-cybertruck-elon-musk-engineering-finished-deliveries-maybe-this-year-2021-1">Cybertruck</a>', a futuristic-looking EV pickup that joins the roster of the company's sports cars. The Cybertruck made headlines at its launch after its "armour glass" windows <a href="https://www.businessinsider.com/video-tesla-cybertruck-launch-blooper-armour-windows-smashed-oops-2019-11">shattered</a> twice during CEO Elon Musk's presentation.CEO Elon Musk <a href="https://www.businessinsider.com/tesla-pickup-truck-cybertruck-reveal-how-to-watch-details-2019-11?r=US&amp;IR=TIR=T">unveiled the $39,900 truck</a> in Los Angeles in November 2019.

General Motors has unveiled a new all-electric Hummer SUV to accompany the EV pickup due in the fall

<ul class="summary-list"><li>GM promoted its upcoming EVs and electric-car ownership during two Super Bowl spots on Sunday. </li><li>In one ad, Will Ferrell expresses his disdan that Norway is beating the US in electric-car sales. </li><li>In another, GM shows off the unlikely benefits of its hands-free driving tech, Super Cruise. </li></ul><keyword id="4581" type="CITY" weightage="60" keywordseo="general-motors">General Motors</keyword> recently announced its <a href="https://www.businessinsider.com/gm-aims-to-end-sale-of-gasoline-diesel-powered-cars-suvs-light-trucks-by-2035-2021-1">plans to stop selling gas-powered cars by 2035</a>, and it wasted little time getting the word out about its upcoming electric models in a pair of celebrity-packed Super Bowl advertisements on Sunday. In one spot, "No Way Norway," Will Ferrell is outraged that the Nordic country "sells way more electric cars per capita than the US." <a href="https://www.reuters.com/article/us-autos-electric-norway/electric-cars-rise-to-record-54-market-share-in-norway-in-2020-idUKKBN29A0ZT?edition-redirect=in">More than half</a> of the new cars sold in Norway last year were electric, while EVs make up less than 5% of cars sold in the US.And Ferrell - the ad version of him, anyway - isn't happy about it. "With GM's new Ultium battery, we're going to crush those lugers. Crush them!" Ferrell says. "Let's go, America."Ferrell rounds up comedians Kenan Thompson and Awkwafina to travel overseas and give the Norwegians a piece of his mind - but none of them make it there.Ferrell drives a <a href="https://www.businessinsider.com/cadillac-just-unveiled-its-lyriq-electric-car-2020-8">Cadillac Lyriq</a>, and the others pile into a <a href="https://www.businessinsider.com/gmc-hummer-ev-electric-pickup-truck-photos-features-specs-2020-10">GMC Hummer EV</a> pickup. Neither vehicle will be on the market until 2022, but they give viewers a taste of what to expect from the 30 EVs GM plans to release by 2025. "GM's Ultium battery is made for all types of vehicles, so soon everybody can drive an EV," Ferrell says. Read more: <a href="https://www.businessinsider.com/tesla-gm-ford-taking-different-approaches-electric-vehicle-ev-market-2020-9?r=tl-sub">Tesla, GM, and Ford each have their own unique strategies for EV success - here's how they compare</a>Another spot for the Lyriq - the upcoming flagship EV for GM's luxury brand - centers around promoting its hands-free driving technology called Super Cruise, which is also available on certain current Cadillac models. The ad features Timothée Chalamet as Edgar Scissorhands in an homage to the 1990 movie "Edward Scissorhands." Winona Ryder, Edward's love interest in the film, appears in the ad as Edgar's mother.In the spot, Ryder gifts her son a Cadillac Lyriq and shows him how it can drive itself - so he can get the thrills of driving without mangling the steering wheel with his pointy hands. Cadillac <a href="https://www.cadillac.com/ownership/vehicle-technology/super-cruise?ppc=GOOGLE_700000001297222_71700000025000383_58700003076487421_p40088173128&amp;ds_rl=1253750&amp;d_src=313715&amp;d_adsrc=3876787&amp;d_campaign=71700000025000383&amp;d_site=GOOGLE&amp;d_adgroup=58700003076487421&amp;d_keyword=cadillac+supercruise&amp;gclick=Cj0KCQiA34OBBhCcARIsAG32uvPwyNanbdYH6548TRvYvbgWQaq3q16hFCMSe4Fw9TMR8eZHMgXccNIaAvsYEALw_wcB&amp;ds_rl=1253750&amp;gclid=Cj0KCQiA34OBBhCcARIsAG32uvPwyNanbdYH6548TRvYvbgWQaq3q16hFCMSe4Fw9TMR8eZHMgXccNIaAvsYEALw_wcB&amp;gclsrc=aw.dsTMR8eZHMgXccNIaAvsYEALw_wcB&amp;gclsrc=aw.ds">says</a> the Super Cruise feature lets drivers take their hands off the wheel on compatible highways. <a href="https://www.businessinsider.com/tesla-autopilot-second-best-assistance-software-consumer-reports-2020-10">Consumer Reports</a> recently found that the technology was better overall than Tesla's Autopilot in a review of driver-assistance features on the market. GM plans to invest $27 billion in electric and autonomous vehicles through 2025. However, the automaker hasn't always been so keen on making its offerings more environmentally friendly. It supported President Trump's efforts to roll back emissions regulations and was one of several car companies to sue California over its strict emissions rules. But, as President Joe Biden is poised to set emissions standards and <a href="https://www.businessinsider.com/tesla-cant-lose-in-2021-with-joe-biden-as-president-2021-1">promote EV adoption</a> through various policies, GM has reversed course.

GM showed off its future electric vehicles in star-studded Super Bowl ads

US based automaker <keyword id="161559" type="General" weightage="100" keywordseo="jeep" source="Orion">Jeep</keyword>, owned by <keyword id="9583188" type="General" weightage="80" keywordseo="stellantis" source="Orion">Stellantis</keyword>, has revealed the first images of its upcoming electric <keyword id="45454" type="General" weightage="20" keywordseo="SUV" source="Orion">SUV</keyword> and confirmed that it will launch in 2023. According to The Verge, Jeep has been slower to embrace electrification as compared to many of its rivals. The automaker has released plug-in hybrid versions of its Wrangler and <keyword id="5774662" type="General" weightage="20" keywordseo="Grand-Cherokee-SUVs" source="Orion">Grand Cherokee SUVs</keyword> and plans an off-roading version of the Grand Cherokee, the <keyword id="6349318" type="General" weightage="20" keywordseo="Trailhawk" source="Orion">Trailhawk</keyword>, which also comes with a hybrid motor. But the unnamed SUV coming out next year will be Jeep's first purely battery-electric vehicle, the report said. The automaker recently announced that it would release "zero-emission" versions of all of its vehicles by 2025, along with plug-hybrid variants. The new Jeep EV would fall within the comprehensive plan last year by Stellantis, the multi-national conglomeration that formed last year when Fiat Chrysler merged with the French PSA Group, to electrify the lineups at most of its brands. That includes EV versions of the Ram 1500 pickup truck and an electric Dodge muscle car. On Tuesday, Stellantis also teased the upcoming Ram 1500 truck with images showing off the vehicle's lighting setup. The image appears to be just a design sketch, leaving open the possibility that Ram has yet to settle on a final form of its upcoming electric truck. Ram is also making an electric ProMaster delivery van that will be incorporated into Amazon's fleet starting in 2023, the report said. Both the Jeep EV and Ram 1500 EV will likely use Stellantis' STLA platform, which is one of the four platforms used by the automaker for its upcoming lineup of EVs, it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/aluminium-industry-writes-to-prime-minister-on-severe-coal-shortage/articleshow/89943436.cms">Aluminium industry writes to Prime Minister on severe coal shortage</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bharatpe-accuses-ashneer-grovers-of-misappropriation-of-funds-strips-him-off-founder-title/articleshow/89943581.cms">This is what Ashneer Grover had to say after BharatPe stripped him off founder title and alleged misappropriation of funds</a>

Jeep to launch its first electric SUV in 2023

<ul><li><keyword id="4581" type="CITY" weightage="60" keywordseo="general-motors">General Motors</keyword> jumped as much as 4% on Tuesday after it confirmed plans to sell an all-electric <keyword id="184240" type="ORGANIZATION" weightage="60" keywordseo="Chevy-Silverado">Chevy Silverado</keyword> pickup truck.</li><li>The electric vehicle will be manufactured in the same factory as the upcoming Hummer EV.</li><li>The electric Silverado will have a 400-mile range and is expected to be released in 2023 or 2024, according to <a href="https://www.caranddriver.com/news/a36038778/chevy-silverado-electric-pickup-confirmed/">a report from Car and Driver.</a></li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Shares of <a href="https://markets.businessinsider.com/stocks/gm-stock">General Motors</a> extended their gains on Tuesday to as much as 4% after the company confirmed plans to sell an all-electric Chevy Silverado pickup truck.GM made the announcement at a media event at its factory in Detroit, Michigan. The all-electric Silverado will be built in the same factory as the Hummer EV and utilize the same Ultium battery technology platform that is unique to the company.The move comes as the 112 year-old car manufacturer accelerates its transition from internal combustion engines to battery powered electric motors with the upcoming launch of the Hummer EV. Investors are cheering GM's pivot, given that its stock price has more than doubled <a href="https://markets.businessinsider.com/news/stocks/general-motors-stock-price-electric-vehicles-invest-billion-hummer-reveal-2020-10-1029700633">since it doubled down on its its electric vehicle plans last October.</a>The electric Silverado will have 400 miles in range on a single charge and is expected to be released in 2023 or 2024, according to <a href="https://www.caranddriver.com/news/a36038778/chevy-silverado-electric-pickup-confirmed/">a report from Car and Driver.</a>"The GMC Hummer EV SUV joins its stablemate in the realm of true supertrucks, and Chevrolet will take everything Chevy's loyal truck buyers love about Silverado, and more, and put it into an electric pickup that will delight retail and commercial customers alike," <a href="https://www.freep.com/story/money/cars/general-motors/2021/04/06/gm-factory-zero-electric-chevy-silverado-detroit-hamtramck/7103468002/">said GM President Mark Reuss.</a>But GM will <a href="https://www.businessinsider.com/best-new-electric-cars-tesla-ford-gmc-hummer-2023-2021-3">be facing increased competition in the EV pickup truck space</a> once the Silverado EV launches, as battery-powered trucks from Rivian, <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>, and <a href="https://markets.businessinsider.com/stocks/ride-stock">Lordstown Motors</a> are expected to be available for sale by then. But the EV Silverado's most direct competitor will likely be <a href="https://markets.businessinsider.com/stocks/f-stock">Ford's</a> highly anticipated electric F-150, which is expected to launch in 2022. <div type="image" title="gm charrt.JPG" height="528" width="669" msid="81939220" hostid="261"></div>

General Motors rises 4% after it confirms plans to sell all-electric Chevy Silverado pickup truck

<ul class="summary-list"><li>The <keyword id="9257205" type="UNKNOWN" weightage="60" keywordseo="gmc-hummer-ev">GMC Hummer EV</keyword> will be a 1,000-horsepower, all-electric “super truck.”</li><li>A new teaser released on Monday shows its “Crab Mode” — utilizing the four-wheel steering to drive diagonally.</li><li>The <keyword id="9196948" type="UNKNOWN" weightage="60" keywordseo="Hummer-EV">Hummer EV</keyword> will officially debut on October 20.</li></ul>Didn't you hear? General Motors is bringing back the <keyword id="45405" type="COMPANY" weightage="60" keywordseo="Hummer">Hummer</keyword> nameplate as the <a href="https://www.businessinsider.com/gmc-hummer-will-be-a-1000-horsepower-electric-super-truck-2020-1">GMC Hummer</a> — a 1,000-horsepower, all-electric "super truck." Not much more is known about the truck ahead of its October reveal, but it appears to have a "Crab Mode" option that will help it drive diagonally.On Monday, <keyword id="6356217" type="UNKNOWN" weightage="60" keywordseo="GMC">GMC</keyword> <a href="https://media.gmc.com/media/us/en/gmc/home.detail.html/content/Pages/news/us/en/2020/sep/0914-hummer.html">published</a> a short teaser of the Hummer EV's crab-walking mode. From the video, it appears that the truck will be able to use its four-wheel steering capabilities to face all four wheels in the same direction and move diagonally. <div type="image" title="GMC Hummer EV Crab Mode." height="309" width="550" msid="78116141" hostid="261"></div>Crab Mode adds to the <a href="https://www.businessinsider.com/coolest-features-electric-pickup-trucks-tesla-rivian-bollinger-nikola-lordstown-2020-7">long list of impressive features</a> planned for upcoming EV trucks, including the Rivian R1T's ability to spin in a circle with its <a href="https://www.businessinsider.com/rivian-r1t-does-360-degree-turns-video-tesla-cybertruck-rival-2019-12">360-degree tank turns</a>. It's not clear if a full 90-degree swivel will be possible with the Hummer's crab-walk feature, so those of you waiting on a car that <a href="https://youtu.be/k6tXQyVLmHo?t=39">can crawl sideways like the Batmobile</a> might be disappointed.Besides the Crab Mode, the Hummer EV will also <a href="https://www.businessinsider.com/gmc-hummer-ev-will-have-removable-roof-panels-2020-5">have a Jeep-like removable roof</a> and be built at <keyword id="6372405" type="ORGANIZATION" weightage="60" keywordseo="gm">GM</keyword>'s Detroit-Hamtramck assembly plant.The Hummer EV was originally supposed to debut on May 20. Thanks to the COVID-19 pandemic, however, that debut was pushed back. It is now set to happen on Tuesday, October 20, according to GMC. You can watch <a href="https://www.youtube.com/watch?v=VvX3959EjuM">Crab Mode in action here</a>.

Watch the Cybertruck's upcoming Hummer EV competitor use its 'Crab Mode' feature to crawl diagonally across sand

Electric two wheeler maker <keyword id="195740" type="General" weightage="100" keywordseo="hero-electric" source="Orion">Hero Electric</keyword> on Monday said it will set up a Rs 1,200 crore two million units per annum mega electric vehicle (EV) manufacturing hub in Rajasthan. The company said it has signed a Memorandum of Understanding (MoU) with the state government at the Invest Rajasthan summit. According to the company, the proposed unit will be located at Salarpur industrial region over 170 acres and start production by the end of of 2023. "This mega manufacturing facility is part of our capacity enhancement to boost EV adoption across India. It will allow the state to spearhead clean mobility solution shift and promote ecological tourism practices," Naveen Munjal, Managing Director, Hero Electric, said. CEO Sohinder Gill said: "Green field facility of this mega size and large budget gives us the opportunity to introduce very energy efficient green manufacturing processes with a healthy blend of automation using robotic arms and the nimble-fingered skills of the local artisan workforce, using the clean solar energy that state provides." The proposed facility will manufacture all the current and upcoming Hero Electric two-wheelers, Hero Electric said. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/best-upcoming-hybrid-electric-cars-and-suvs-in-india/articleshow/93274562.cms">Best upcoming electric and hybrid cars in India</a> <a href="https://www.businessinsider.in/business/auto/news/a-fire-at-an-ev-showroom-has-killed-8-several-injured-while-trying-to-escape/articleshow/94167880.cms">A fire at an EV showroom has killed 8, several injured while trying to escape</a>

Hero Electric to set up ₹1,200 crore EV manufacturing plant in Rajasthan

New Delhi, Nov 29 () MG Motor India on Friday said it has partnered with battery life-cycle management firm Umicore for recycling end-of-life batteries of its upcoming electric SUV ZS EV.
 The partnership will allow end-of-life ZS EV batteries to be recycled, thus ensuring greater peace of mind to MG customers about their ecological footprint, the company said in a statement.
 "Our partnership with Umicore focuses on end-of-life applications for used EV battery packs and ensures that exhausted battery packs of MG ZS EV are recycled in keeping with the global best standards, to ensure environment-friendly battery disposal," MG Motor India Chief Commercial Officer Gaurav Gupta said.
 Over the past few months, the company has worked towards creating the right ecosystem for its customers ahead of the launch of the ZS EV, including charging infrastructure, he added.
 Umicore India Country General Manager and spokesperson Kedar Rele said MG is addressing concerns about the disposal of end-of-life EV batteries for recycling.
 The company will offer its 'closed loop' sustainable recycling solution that ensures minimal waste and impact on the environment.
 "This is vital to the commitment of facilitating EV adoption and catalysing India's nascent EV revolution," Kele added.
 Earlier this week, MG Motor India had announced similar partnership with Exicom Tele-Systems for recycling of used batteries of SUV ZS EV. RKL RKL HRS

MG Motor India partners Umicore for recycling batteries of upcoming electric SUV ZS EV

<div style="float: right; margin: 15px 0 20px 20px;"><table border="0" cellspacing="0" cellpadding="0"><tbody><tr><td colspan="2"><a href="https://static-ssl.businessinsider.com/category/chart-of-the-day"> </a></td></tr><tr><td><a href="http://www.businessinsider.com/category/chart-of-the-day"></a></td><td><a href="http://www.businessinsider.com/netflix-subscribers-chart-2017-1"></a></td></tr></tbody></table></div>What would it take for you to buy an electric vehicle?Lower average prices can't hurt - and as this chart from <a href="http://statista.com" target="_blank">Statista</a> shows, those have come a long way. As noted in a recent report from <a href="https://www.mckinsey.de/files/161223_mckinsey_e-vehicles.pdf" target="_blank">McKinsey &amp; Company</a>, advances in battery tech have helped the average battery pack price go down from about $1,000/kWh to roughly $227/kWh since 2010. McKinsey says that figure will continue to come down, potentially bringing EVs close to parity with the cost of other cars. This process is already in motion, to an extent, with the likes of the Chevy Bolt and upcoming Tesla Model 3.But while that decrease would address one of potential EV buyers' biggest concerns, EV sales are still low, and many roadblocks remain ahead. The driving ranges on most EVs still aren't as long as they should be; McKinsey itself notes that only "around half" of consumers in the US and Germany actually comprehend how EVs work, and the number of EV charging stations out in the wild <a href="http://www.businessinsider.com/how-many-electric-vehicle-charging-stations-us-chart-2016-11" target="_blank">is still low</a>.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Statista</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/mario-odyssey-trailer-gorgeous-nintendo-switch-2017-1">Here's the gorgeous trailer for 'Super Mario Odyssey' -&#xa0;the first Mario game for Nintendo Switch</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="NwNnN2ODE62wPrJrkIbeQa_J2hgoAhQn" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Batteries for Tesla and other electric car makers are getting cheaper

<ul class="summary-list"><li><keyword id="12012630" type="UNKNOWN" weightage="60" keywordseo="general-motors" source="Orion">General Motors</keyword> unveiled the <keyword id="12889986" type="UNKNOWN" weightage="60" keywordseo="chevrolet-equinox-ev" source="Orion">Chevrolet Equinox EV</keyword>, a $30,000 electric SUV. </li><li>The Equinox EV will hit dealerships in fall 2023. </li></ul>General Motors revealed its latest electric pickup truck on Wednesday at CES 2022. But the <a href="https://www.businessinsider.com/electric-chevy-silverado-ev-price-range-release-date-ford-f150-2022-1">Silverado EV</a> isn't the only new electric vehicle GM announced. The automaker took the wraps off of its upcoming <keyword id="12717371" type="UNKNOWN" weightage="60" keywordseo="chevrolet" source="Orion">Chevrolet</keyword> Equinox EV, a small electric SUV that will cost around $30,000 in its base configuration. The Equinox EV will bring another low-cost, electric option to the country's most popular vehicle segment: compact SUVs. <div type="image" title="Chevrolet Equinox EV." height="1530" width="2500" msid="88721206" hostid="261"></div>It's not that $30,000 is a small amount of money — it isn't. But historically, making the switch from a gas-powered vehicle to an electric one often meant buying something expensive, like a Tesla. The Equinox EV and similarly priced electric SUVs — like the Hyundai Kona Electric and Chevy Bolt EUV — should make going electric more palatable and <a href="https://www.businessinsider.com/electric-cars-2022-models-market-tesla-ford-gm-lucid-rivian-2021-12">accessible to more people</a>. <div type="image" title="Chevrolet Equinox EV." height="1291" width="2584" msid="88721207" hostid="261"></div>GM didn't offer many details about the Equinox EV. The SUV will be available in both fleet and retail versions, have RS and LT trims, and use GM's new Ultium battery platform. Judging by the photos GM shared, we can see that the Equinox EV will have a large touchscreen and a second driver-facing display. A slim light bar stretches across the SUV's front end. <div type="image" title="Chevrolet Equinox EV." height="1430" width="2500" msid="88721208" hostid="261"></div>The Equinox EV will launch in fall 2023, and we'll learn more about the model's range and other details closer to that date. GM also confirmed that an electric version of the Blazer SUV — named, you guessed it, the Blazer EV — will be available in spring 2023. GM plans to phase out sales of combustion vehicles by 2035, and it's launching a slew of EVs across its brands to make that happen. The <a href="https://www.businessinsider.com/gmc-hummer-ev-price-horsepower-interior-release-date-2021-10">GMC Hummer EV</a> pickup truck went into production in December, the Chevy Silverado EV arrives in 2023, and the <a href="https://www.businessinsider.com/cadillac-just-unveiled-its-lyriq-electric-car-2020-8">Cadillac Lyriq</a> ships out this year.

Chevy unveiled its cheapest electric model yet, a $30,000 crossover SUV

<ul><li>"It's <keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword>'s world and <keyword id="186291" type="ORGANIZATION" weightage="60" keywordseo="EV">ev</keyword>eryone else is paying rent" in the EV market, Wedbush analyst Daniel Ives told CNBC on Thursday.</li><li>Tesla is readying a "million-mile" battery that could greatly reduce the cost of EVs, and is scheduled to be announced at the upcoming September 22 "Battery Day" event.</li><li>Investor focus on the EV-maker's new battery and strong demand from China mean that the company's shares have a "lot more room to go," Ives said.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>In the electric-vehicle market, "it's Tesla's world and everyone else is paying rent," Daniel Ives, senior equity research analyst at Wedbush, <a href="https://www.cnbc.com/video/2020/09/03/its-teslas-world-and-everyone-else-is-paying-rent-analyst.html">told CNBC</a> on Thursday.Although <a href="https://markets.businessinsider.com/stocks/tsla-stock?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Tesla</a> stock was down about 7% early Thursday on Wall Street, its shares are up by nearly 450% so far this year, compared with a roughly 30% rise in the broader NASDAQ index.The EV-maker's position of strength has gathered more retail investor momentum, and is the basis for Wedbush's bull case of $700 per share."This is a stock that still has a lot more room to go, even though the haters continue to hate as the stock moves higher," Ives said of Tesla's shares.The company is readying a "million-mile" battery that could greatly reduce the cost of EVs, and is scheduled to be announced at its upcoming September 22 "Battery Day" event.The combination of a million-mile battery, a focus on price-parity relative to traditional automobiles and third-party battery suppliers, and strong demand from China would help push its stock higher, Ives said.Despite potential "speed bumps" and increased competition in the future, Tesla's dominance of the EV market would not be a significant risk in the coming quarters, he said.Read More: <a href="https://slack-redir.net/link?url=https%3A%2F%2Fwww.businessinsider.com%2Finvesting-strategy-for-small-companies-from-mircocap-expert-ian-cassel-2020-9" target="_blank" rel="noopener noreferrer">'You can make 5, 10, 50x your money': Here's an inside look at the 7-part strategy small-stock expert Ian Cassel is using to unearth the market's most overlooked gems</a>"Everyone's going after Tesla in terms of the EV market," he said, while adding the company has a "target on their back."On its inaugural day of post-split-trading, <a href="https://www.businessinsider.com/tesla-market-cap-no-7-largest-us-company-share-split-2020-9">Tesla became the seventh-largest US company</a> based on market capitalization."We believe the stock split decision was a smart move by Tesla and its board, given the parabolic move in shares over the past six months," Ives said in a note.Separately on Wednesday, <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-to-surge-amid-proposed-equity-offering-bofa-2020-9-1029557083#">Bank of America boosted</a> its Tesla price target to $550 from $350, marking a roughly 16% increase from Monday's close.The firm said Tesla's shares could surge even higher in the next 12 months after its proposed <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-sale-boosts-bonds-record-high-balance-sheet-strengthens-2020-9-1029557043#">$5 billion equity offering</a>.Read More: <a href="https://slack-redir.net/link?url=https%3A%2F%2Fwww.businessinsider.com%2Fwarren-buffett-berkshire-hathaway-investing-strategy-japanese-stocks-turning-point-2020-9" target="_blank" rel="noopener noreferrer">A top strategist explains why Warren Buffett's latest bets could be a 'true turning point' for Japanese stocks</a>

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New upcoming electric cars in India in 2024

Sourabh Jain

General Motors has unveiled a new all-electric Hummer SUV to accompany the EV pickup due in the fall

Theo Golden

GM showed off its future electric vehicles in star-studded Super Bowl ads

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Jeep to launch its first electric SUV in 2023

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General Motors rises 4% after it confirms plans to sell all-electric Chevy Silverado pickup truck

Matthew Fox

Watch the Cybertruck's upcoming Hummer EV competitor use its 'Crab Mode' feature to crawl diagonally across sand

Kristen Lee

Hero Electric to set up ₹1,200 crore EV manufacturing plant in Rajasthan

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MG Motor India partners Umicore for recycling batteries of upcoming electric SUV ZS EV

PTI

Batteries for Tesla and other electric car makers are getting cheaper

Jeff Dunn

Chevy unveiled its cheapest electric model yet, a $30,000 crossover SUV

Tim Levin

'It's Tesla's world and everyone else is paying rent,' says Wedbush analyst who sees further upside for its shares

Shalini Nagarajan

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