GMC to reduce electric car production costs

By the end of this year, GMC's costs for electric vehicles will be lessened by 30 percent compared to the current Chevrolet Bolt, Report stated, citing the Detroit Free Press.

Speaking at the Morgan Stanley Auto 2.0 conference, Doug Parks, the company's executive vice president, said that by the end of 2021, they would launch an electric SUV and an electric pickup.

According to the company spokesman, thanks to the new Ultium batteries, electric cars' production will be cheaper. In total, GMC intends to launch 30 new electric car models by 2025.