The car’s autonomous technology will take the Volt to a destination and park itself. Other companies that are also developing self-driving cars include Apple and Uber.
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That’s not all, the automaker also disclosed plans to initiate a similar ride-sharing program in New York City, and another location that will be revealed sometime in 2016.
“No one has solved all the technologic challenges”, said Mike Abelson, vice president for program management at GM.
But GM said that its leadership in the automotive industry would give it an edge against a few of competitors as everyone struggles to develop artificial intelligence that can anticipate drives decision and road conditions.
“Some might find this massive change to be daunting, but we look at it and see the opportunity to be a disruptor”, CEO Mary Barra said.
GM said $5.5 billion in manufacturing, purchasing, information technology and administrative cost savings will help to pay for the investment needed for the new technology, even as the company increases its earnings. GM spokesman Dan Flores added that the auto will be equipped to allow a person to be on the driving seat.
The chief executive also addresses the Volkswagen diesel emissions scandal, saying GM has made no changes to its technology in Europe ahead of what is expected to be closer scrutiny from regulators on the continent.
The company also predicted a 31 per cent reduction in battery costs for electric cars that could speed price reductions.
Mixed materials and mixed-metal manufacturing techniques The company said it continues to develop an array of materials, including various grades of steel, aluminum and composites to make its vehicles stronger yet lighter and more efficient. The smart hybrid auto can stretch a fully-charged battery for about 40 miles, before the engine decides to fall-back to the gasoline powered generator.
GM also said it plans to strengthen its core business through global growth initiatives and an aggressive product launch cadence, while continuing to focus on driving cost efficiencies. GM projects full-year earnings this year of $4.50 per share this year, up from $4.12 in 2014.
It expects total sales in China to slow to a 3 to 5 percent annual growth rate between now and 2020. GM is also seeing now increased pressure to replace faster its vehicles, with 26 percent of global sales from new or refreshed models introduced over the past 18 months.
Barra said the value in connectivity will grow if GM can inspire customers to stick with its brands for life, and provide data GM can use to tailor features and services.
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“We have a lot of confidence in our diesel technology”, she said.
