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GMC's electric, 1,000-horsepower Hummer SUV makes a surprise appearance

We knew the GMC Hummer pickup would spawn an SUV, but we didn't expect to see it so soon. It quietly appeared in a marketing presentation about electric cars that General Motors streamed online in November 2020. The camera never focused on the SUV, there was always an executive sitting in front of it, but we see enough to tell it's closely related to its pickup sibling. Both battery-powered off-roaders are nearly identical from the tip of the front bumper to the edge of the rear doors. The SUV's overhang is a little bit shorter than the pickup's, though there's presumably space for a third row of seats. Its rear end doesn't appear in the presentation. Nothing suggests GMC made major powertrain changes to the SUV, so it's likely identical to the truck underneath the sheetmetal. Range-topping models will receive three motors zapped into motion by a 24-module Ultium battery pack. Motorists will have 1,000 horsepower and approximately 350 miles of driving range to play with. GMC plans to start building the Hummer pickup in late 2021, and the SUV might not enter production until early 2022. We expect pricing will initially start above $100,000, but more affordable variants will gradually join the lineup during the first half of the 2020s. When it lands, the off-roader will compete directly against the Rivian R1S. General Motors will invest $27 billion into electric and autonomous cars by 2023. Its portfolio of EVs will also include a Silverado-sized pickup, a crossover based on the Bolt, and a high-end Cadillac crossover named Lyriq. "We want to be number one in EVs in North America," affirmed company boss Mary Barra.

The Hummer EV Edition 1 is sold out and it'll be years before other trims arrive

When the 2022 GMC Hummer EV was revealed, GMC noted that there would be lower trims available. The company has since provided a few more details on those lower trims, which is helpful to know now that the only trim on sale next year, the Edition 1, was sold out in a scant 10 minutes. However, it's going to be a long time before they're all available.  The entry-level GMC Hummer EV is the EV2. This is the model that will start at $79,995, and unlike the Edition 1, it gets just two motors, one for each end of the truck, each with electronically locking differentials. Output is down to 625 horsepower and a torque rating of 7,400 pound-feet. Note that this and all other reported torque numbers are after the torque multiplication by the single-speed transmissions, hence the extremely high numbers. The company hasn't given torque numbers at the motors, which would be more comparable to other electric cars. Range is also reduced to 250 miles, probably due to a smaller battery pack. Fast charging is also restricted to 400-volt charging, so it won't be as fast as the higher trim models. The removable roof panels, retractable rear window, MultiPro tailgate, Super Cruise and 35-inch tires are standard. This model only gets fixed steel suspension and two-wheel steering. The EV2 will be the last of the trim levels to go on sale, with a target of spring 2024. Yes, as in 3.5 years from now.  The next level is the EV2X, which will be available a year earlier in the spring of 2023. It gets the same powertrain as the EV2, but adds 800-volt fast charging and a 300-mile range. It also gets the adaptive air suspension and four-wheel steering, plus the associated party tricks of Crab Mode and Extract Mode. This model costs $89,995. The earliest Hummer EV that isn't an Edition 1 and therefore not yet sold out will be the EV3X, the entry-level three-motor model. It goes on sale in the fall of 2022 at a price of $99,995. It's not quite as potent as the Edition 1, though, with an output of 800 horsepower and 9,500 pound-feet of torque. It also lacks the "Watts to Freedom (WTF)" launch control feature. But it does get torque-vectoring with the dual rear motors, which can also lock their speeds to be equal like with the mechanical locking differential at the front. The EV3X's range is 300 miles like the EV2X.  As for the Edition 1, it started $112,595 before it was sold out. Customers are to expect them in fall 2021.

GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC