Hummer, the popular gas guzzler that people loved to mock for its bulk and inefficiency, was phased out by GM in 2009 at the time of the car maker’s bankruptcy. In October, however, GM announced the 2022 Hummer EV, an all-electric pickup truck that boasts a frightening 1,000 horsepower engine via three electric motors.
The vehicle also features a removable top, four-wheel independent steering, a battery rated to have a 300-mile range, and GM’s Super Cruise driver-assistance system. Given the rise of smart features and devices for the auto industry, it would not be surprising to see GM further expand its smart feature set in the new Hummer EV in the near future.
GM is clearly out to protect its truck turf, where most of its profits are made, from Tesla and the Cybertruck, set to arrive in late 2021. While Tesla has gained attention for its sleek electric vehicles, the company holds just 1% of the US car market in 2020, compared to Chevy’s 12% and GMC’s 2%.
Interpret’s New Media Measure® indicates that 48% of Tesla owners consider themselves to be highly environmentally conscious, but the same can be said for 36% of GMC’s customer base and 29% of Chevrolet owners. The Hummer EV starts at $80,000 – a barrier to entry for the average consumer – but if GM’s core target for the new Hummer is environmentally conscious GM vehicle fans, its addressable share of current owners is nearly nine times the size of Tesla’s.
Tesla is, no doubt, an industry pioneer credited with ushering in the age of the electric vehicle, but when the big auto makers fully commit to electric vehicles, Tesla may lose the spotlight as the most popular electric car maker.