GM to focus only on electric vehicles, smart cars at China design studio
General Motors Co said on Monday it expanded its design studio in China, which will focus only on developing electric and connected cars and no longer design petrol vehicles.
The move comes as the largest U.S. automaker prepares to cut out petrol and diesel vehicles from its fleet by 2035 and underscores its efforts to gain a bigger foothold in China, the world’s largest electric car market.
It also plays into GM’s ambitions of adding a recurring revenue stream from software and services long after the initial product is sold, a la Apple Inc, by selling EV battery charging and swapping services for example.
