- General Motors resurrected the Hummer on Tuesday night as an all-electric "supertruck."
- But unlike its gaudy predecessors, GM expects the zero-emissions vehicle to appeal to environmentalists as well as off-road and performance enthusiasts.
- The first year of production for the "Edition 1" launch model have already been reserved.
It's the first time the company will use the name since discontinuing the bulky, gas-guzzling vehicles a decade ago. But unlike its gaudy predecessors, GM expects the 2022 Hummer EV, a zero-emissions vehicle, to appeal to environmentalists as well as off-road and performance enthusiasts.
Here are five things you should know about the Hummer EV sport utility truck, or SUT:
GM President Mark Reuss said Wednesday morning that the automaker expects the GMC Hummer EV SUT to be profitable from the start of production.
"From day one, our electric vehicles will be profitable. End of story." he said on CNBC's "Squawk Box," reconfirming comments from earlier this year.
Due to the costs of battery cells and other technologies associated with electric vehicles, automakers for years have been selling EVs at a loss. Companies have used the vehicles more for compliance reasons to meet more stringent fuel economy regulations rather than a compelling business case.
Initial availability of the Hummer EV pickup next fall will start at $112,595, including destination charges, for a launch version called the "Edition 1." A $99,995 version will be available a year later, followed by $89,995 and $79,995 models in the springs of 2023 and 2024, respectively.
The yearslong production schedule should allow the company to ramp-up output of a $2.3 billion joint venture with LG Chem for battery cell production at a plant currently being constructed in Lordstown, Ohio.
GMC Vice President Duncan Aldred said Wednesday that reservations for the first-year of production for the Hummer EV "Edition 1" models sold out within the first 10 minutes of taking $100 deposits after the vehicle's unveiling Tuesday night. He declined to disclose how many reservations were taken.
"We've got several thousand people on a wait list for that first-edition vehicle. We're not going to reveal the overall number of reservations we got at this point but suffice to say we had an incredible response last night," he said during an online media briefing.
GM hasn't announced a target customer for the new vehicle, citing it's a new segment that is expected to attract a wide array of buyers from electric vehicles, luxury sports cars and premium pickups.
"We're not going to be looking at one particular brand or one particular segment," Alrdred said when asked about attracting Tesla owners. "Its appeal is going to be far more wide reaching than that."
The Hummer EV will be the first vehicle to market with GM's next-generation EV platform and batteries, known as Ultium. The chemistry of the batteries will allow GM to use 70% less cobalt – an expensive element found in EV batteries – than GM's previous generation of EVs.
The new developments allowed GM to bring the vehicle to market in record time for the automaker. Reuss previously told CNBC that the decision to resurrect Hummer as an EV was made in early 2019. What followed was potentially one of the most aggressive and ambitious launch schedules the company has ever undertaken.
Automakers spend the better part of a decade – historically between five and seven years – on new vehicle programs. The Hummer EV team is expected to bring that vehicle to market in less than three.
"This is pretty much the fastest program that GM's ever done," Aldred told CNBC. "We've really taken a revolutionary look at this."
The GMC Hummer pickup is the lead vehicle in the company's plan to invest $20 billion in autonomous and all-electric vehicles through 2025, including at least 20 new electric vehicles globally by 2023.
The Hummer EV pickup will feature up to 1,000 horsepower; 0 to 60 mph acceleration in three seconds; and 11,500 pound feet of torque, according to GM. That power will be generated by three separate motors within two of GM's proprietary drive units to four-wheel-drive performance on-road and off-road.
A "Watts to Freedom," or WTF, mode enables much of the top-end performance features.
Lower-priced Hummer EV models will feature shorter electric ranges of roughly 250 miles or 300 miles and less performance than the top-end models. The sub-$90,000 models will include 625 horsepower and 7,400 lb.-ft. of torque with two motors instead of three.
The vehicle also offers a host of off-road parts and features such as adaptive air suspension and "crab mode" that allows it to rotate all four wheels at once, allowing the truck to almost move diagonally.
GM threw just about every new technology it had and then some into the Hummer EV. The vehicle features a clean-sheet design, digital cockpit interior with large screens and the newest version of its driver-assist system.
"This is going to be the pinnacle of really electric and technological advancements in the automotive space," Aldred told CNBC.
The next-generation Super Cruise system will allow for hands-free driving on more than 200,000 miles of limited-access freeways in the U.S. and Canada that have been lidar-mapped to assist the on-board system of cameras, radar and sensors. The newest version of the system also will include a lane-changing function as well as other enhancements.
The vehicle's digital cockpit layout features a large driver information screen and center touch screen. The operating system was made in partnership with Epic Games, a first for the game maker. It features new 3D graphics and user interfaces for drivers and passengers.
The vehicle also includes an open-air layout in which customers can remove the roof and store the panels in the vehicle's front trunk, also known as a "frunk."
The exterior features a new iteration of Hummer's traditional slotted grille with "HUMMER" backlit across the front of the truck and a six-function tailgate in the back.