Carmakers roll forward with new electric models

NEW YORK, N.Y. (KYMA, KECY/NBC News) - Carmakers are betting on the future of electric vehicles. Soon we may all be plugging in instead of filling up.

GMC's going big, both literally and figuratively. Tuesday night it unveiled its new Hummer EV. It's just one of 20 electric vehicles planned for release by 2023. General Motors is investing more than $2-billion in its U.S. manufacturing operations, largely to increased electric vehicle production.

While a super-sized EV is among GM's electric bets, others are thinking small.

"It registers as a motorcycle so the insurance rates are lower and everything like that." said Paul Rivera, the CEO of Electra Meccanica.

The three-wheeled, single seat "Solo" from Electra Meccanica targets city commuters.

"It's the space between micro-mobility and passenger car." said Rivera

It has a 100-mile range, and a top speed of 80 miles per hour. Plus, it's affordable.

"The pricepoint is very attainable it's $18,500…" said Rivera.

It could save you money down the road too.

A recent Consumer Reports analysis showed owning an electric vehicle today will ave thousands of dollars in lifetime ownership costs compared ot a gas-powered vehicle.

"The world is headed away from fossil fuels and to alt fuels, electric vehicles, hydrogen, of course, we have to… not just for our generation but for our children too." said Rivera.

That's why there's growing interest in EVs both to save money, and save the environment.

GM's Hummer EV will go on sale in the next year. It's expected to roll out before Tesla's new Cybertruck. It will be GM's first real attempt at competing with Tesla.

The Hummer EV will also be the first to use the company's next-generation EV platform and batteries, known as Ultium.