General Motors announced today they are scheduled to invest $246 million on electric motors and aim to debut next-generation, rear-wheel-drive Two-mode Hybrid technology in 2013. The Detroit based automaker says in a press release:

"Electric motor innovation supported the first wave of automotive growth a century ago with the electric starter, which eliminated the need for a hand crank, and revolutionized automotive travel for the customer," said Tom Stephens, GM vice chairman, Global Product Operations. "We think the electrification of today's automobiles will be just as revolutionary and just as beneficial to our customers. Electric motors will play a huge role in that."

"In the future, electric motors might become as important to GM as engines are now," Stephens said. "By designing and manufacturing electric motors in-house, we can more efficiently use energy from batteries as they evolve, potentially reducing cost and weight - two significant challenges facing batteries today."

If the Chevy Volt, which is expected to be released this November, is a game changer then GM may have a one two punch on their hands with hybrids and 100% electric cars in the near future.