GM Takes Wraps off Hummer - InvestingChannel News

GM Takes Wraps off Hummer

General Motors (NYSE:GM) unveiled an all-electric Hummer SUV Saturday that will top $110,000 when it goes on sale in 2023. The vehicle will be the stablemate to an upcoming Hummer pickup that’s scheduled to go on sale this fall.

Said one company official, “The GMC Hummer EVs were envisioned to be the most capable and compelling electric supertrucks ever.”

The 2024 Hummer EV SUV features the same eye-popping torque of up to 11,500 foot-pounds as the pickup, however it is estimated to have 50 miles less range, 170 less horsepower and be half a second slower than the pickup due to a smaller battery size.

The SUV’s range is estimated to be between 250 miles and more than 300 miles depending on the model. The 0 to 60 mph is as fast as about 3.5 seconds. It has up to 830 horsepower, according to GM.

Full pricing for the SUV will range from about $80,000 for a base model to $110,595 for a special “Edition 1” launch model with an available “extreme off-road package.” The pricing varies based on the range, performance and battery size of the vehicle.

GM said it will begin with producing the highest priced models in early 2023, followed by less expensive versions into spring 2024. The automaker is taking reservations for the vehicle on its website.

GM shares acquired 48 cents early Tuesday to $61.52.