General Motors Co. is rethinking its brand strategy — aiming for just two global brands — and intends to spend billions of dollars over the next five years on advanced propulsion systems.
The extended-range electric Chevrolet Volt, said GM Chairman and CEO Dan Akerson, "is a novelty (today), but it won't be in five years. It's going to be an old, old technology and old news."
Next year, Akerson said, GM will unveil a bifuel engine for commercial trucks that will run on compressed natural gas or gasoline.
"In the next 10 years," he said, "this company has to break the code on advanced propulsion and that's going to be a multifaceted solution."
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