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GM CEO Barra says 'we are selling every truck we can build'

DETROIT — General Motors Chief Executive Mary Barra said on Monday the automaker is "selling every truck we can build" and expanding North American truck-building capacity, even as U.S. gasoline prices hit record highs. Barra made her comments during the automaker's annual shareholder meeting. GM is pursuing a two-track strategy: Investing heavily in electric vehicles for North America, China and other markets, and funding those investments by trying to maximize profits from its North American combustion pickup truck and large SUV lineups. Barra said GM is planning higher-priced versions of its Silverado large pickup and its large SUV models. GM and its Detroit rivals Ford Motor Co and Stellantis NV rely heavily on sales of large pickup trucks and SUVs for global profits. High U.S. gasoline prices in the past have undermined consumer demand for relatively inefficient models. Nominal pump prices hit an average of above $5 a gallon for the first time ever last week, the federal government said Friday. GM is ramping up production of EVs. Barra said the Cadillac Lyriq electric sport utility is sold out through 2023. In response to shareholder questions, Barra said the "clear priority" for using cash generated by its operations is to "accelerate our EV plans." She did not rule out share buybacks or other approaches to returning cash to shareholders. GM still expects to increase production this year by 25-30%, despite continuing pressure on semiconductor supplies globally. Barra said GM is working to redesign vehicles to reduce the number of processors required by 95%. Barra serves as GM's board chair and CEO. GM shareholders overwhelmingly rejected a proposal to separate those roles.

Recharge Wrap-up: Chevy Volt promos, Audi e-gas partnership

GM is offering promotions on the 2017 Chevrolet Volt. As dealers receive the first shipments of the new model year of the Volt, the automaker is giving customers in certain areas (California, Connecticut, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New York, Oregon, Rhode Island, and Vermont) $1,000 cash back on their purchase. GM Financial is also offering lease discounts for a limited time, and trade-ins may be eligible for even more money back. State and federal incentives could add up to make the new Volt quite the bargain for the right customer. Read more at Clean Technica. The UK's potential exit from the European Union could mean tighter emissions regulations, potentially even in the UK. While Britain has fought against the EU on stricter rules, the "Brexit" could leave officials in Brussels free to strengthen air quality laws. The UK, despite giving up its seat at the table, would still be beholden to some rules as a member of the European Economic Area free trade agreement. British voters vote on a referendum to leave the EU on June 23. Read more from Bloomberg Business. Daimler will refrain from investing in battery pack production with other automakers for the time being. Daimler CEO Dieter Zetsche cites an overabundance of battery production, saying, "Contrary to the expectation four or six years ago when everyone thought that the cells would be a rarity that could even be used as a tool of industrial policy, there is de facto a massive overcapacity in the market today and cells have become a commodity." Daimler recently shuttered its own lithium-ion battery production due to high costs and low demand. Read more from Automotive News. Audi is partnering with the Viessmann Group to increase e-gas production using a new biological process. Audi has been making the renewable fuel through a two-part process of electrolysis (splitting water into oxygen and hydrogen) and methanation (reacting hydrogen with CO2 to make synthetic methane). The new biological process uses microoganisms to absorb hydrogen and CO2 to make methane. The process requires lower temperature and pressure, and doesn't require high concentrations or purity of CO2. Read more in the press release below.

Recharge Wrap-up: Chevy Volt's new, improved powertrain; Inabikari wants to build Tesla Model X fighter

We knew the 2016 Chevrolet Volt's new powertrain would provide more range, but we didn't know how much. According to GM's Executive Director Larry Nitz, it is about 12 percent more, overall. "I can't think of a powertrain we've re-engineered more extensively within a five-year period than this one," he said. The battery, electric drive system and gasoline generator have all been reworked to allow for an overall driving range of up to 425 miles, with electric range speculated to reach 42 miles or more. The new Volt will also benefit from 20 percent quicker low-end acceleration, weight reductions and improvements in NVH. Read more at Hybrid Cars and at the SAE website. Hyundai's FCEV research and development boss, Dr. Sae-Hoon Kim, is optimistic about the future of hydrogen mobility in Japan. With the Tucson Fuel Cell already in production ahead of Toyota's FCV, Hyundai has a foothold in the hydrogen car scene. Kim believes that since the Fukushima disaster, Japan's attitudes toward energy make it friendly to a growing hydrogen economy. He also says that hydrogen won't be limited to Hyundai, with Kia getting all the battery EVs. "Both types are for both companies," Kim says. "For the moment, volumes are small and it is not wise to have Hyundai and Kia competing." Read more at Just Auto. The Latvian/German startup Inabikari is using crowdfunding to build an electric crossover for Europe. The Rev.01 EV hopes to compete with Tesla's upcoming Model X with a range of over 400 miles and a five-second 0-60 time. The group currently is trying to raise initial funds through an Indiegogo campaign, with hopes of more investment in the future and sales beginning in 2017. See the video below, and read more at Hybrid Cars and at the Inabikari website. Fuel economy and emissions regulations could lead to some interesting design changes to automobiles. The World Light Duty Test Procedure, set to replace the New European Driving Cycle in 2017, will push automakers to find new ways to reduce drag on their vehicles. For better aerodynamics, we could see traditional side-view mirrors replaced by cameras that display what they see on screens inside the vehicle. Another likely change will be the introduction of smaller, narrower wheels. Improving the average drag coefficient from 0.32 to 0.20 could reduce CO2 emissions by as much as 20 percent. Read more at Automotive News Europe.