General Motors is revising its product strategy to incorporate plug-in hybrid electric vehicles (PHEVs), CEO Mary Barra announced to investors on Tuesday.
While Barra did not provide specific details about the plans, she stated that PHEVs, which combine an internal combustion engine with battery technology, will be introduced in “select vehicles” across North America.
As the market evolves, more companies are reassessing the feasibility of hybrid vehicles to meet consumer demand and avoid hefty fines associated with federal fuel economy and emissions standards.
Most of GM’s primary competitors already offer both traditional hybrids and plug-in hybrid electric vehicles. “To be clear, GM is still committed to eliminating tailpipe emissions from our light-duty vehicles by 2035.
However, in the meantime, integrating plug-in technology into strategic segments will provide some of the environmental benefits of EVs as the country continues to develop its charging infrastructure,” Barra stated during the automaker’s quarterly earnings call for 2023.
Barra hinted that GM plans to utilize plug-in hybrid technology already implemented in international markets, such as China. Currently, the only hybrid available from GM in the U.S. is a traditional hybrid version of the Chevrolet Corvette.
In the past, GM was a pioneer in the plug-in electric vehicle market with the Chevrolet Volt in the 2010s, but the company discontinued this model in early 2019 due to concerns about demand and costs.
Previously, GM had intended to eliminate plug-in hybrid vehicles altogether, aiming to transition all its traditional internal combustion engine cars and trucks to all-electric models for consumers.
These changing strategies seem to contradict the industry’s recent focus on electric vehicles (EVs).
Many automotive companies have started investing billions in all-electric vehicles, and the Biden administration has been actively promoting the adoption of more EVs on U.S. roads as quickly as possible.
