WASHINGTON (dpa-AFX) - General Motors (GM) is preparing to expand its hybrid vehicle lineup as demand for the technology continues to rise, despite the added complexity and costs of combining electric and combustion powertrains.
GM has historically been cautious about hybrids, but consumers have increasingly shown a willingness to pay for vehicles that offer improved fuel efficiency without requiring a full transition to electric vehicles.
The Detroit automaker currently offers only one hybrid model, a version of the Chevrolet Corvette, after ending production of the Chevrolet Volt plug-in hybrid in 2019. Meanwhile, rivals Ford and Stellantis have worked with suppliers to bring hybrid models to market more quickly.
GM executive Anderson said the company's future hybrid strategy will combine internally developed and externally sourced technologies depending on the vehicle segment, costs and product requirements.
He said GM wants to retain control over technology and development timelines when strategically important, while relying on suppliers when components can be sourced more efficiently.
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