GM promises to add 20 EVs and fuel-cell cars to lineup, paid for by SUVs

"General Motors believes in an all-electric future," GM global product development chief Mark Reuss said on Monday during a briefing at the company's suburban Detroit technical center.

Future generations of GM electric vehicles "will be profitable," Reuss said, but added it was not clear when GM could make all its new vehicle offerings zero-emission electric cars.

Regulators in China and some European countries have floated proposals to ban internal combustion engines by 2030 or 2040.

"We will continue to make sure our internal combustion engines will get more and more efficient," Reuss said.

GM shares were up more than 4 percent in midday New York trading on positive comments from Rod Lache, auto analyst at Deutsche Bank.

Automakers, including electric vehicle market leader Tesla, lose money on electric cars because battery costs are still higher than comparable internal combustion engines.

"General Motors believes in an all-electric future," GM global product development chief Mark Reuss said on Monday during a briefing at the company's suburban Detroit technical center.

Future generations of GM electric vehicles "will be profitable," Reuss said, but added it was not clear when GM could make all its new vehicle offerings zero-emission electric cars.

Regulators in China and some European countries have floated proposals to ban internal combustion engines by 2030 or 2040.

"We will continue to make sure our internal combustion engines will get more and more efficient," Reuss said.

GM shares were up more than 4 percent in midday New York trading on positive comments from Rod Lache, auto analyst at Deutsche Bank.

Automakers, including electric vehicle market leader Tesla, lose money on electric cars because battery costs are still higher than comparable internal combustion engines.