Photo: Via Detroit Free Press
General Motors announced today it feels confident that by 2030 it can double revenue and improve margin through more EV sales.
GM is as ambitous as ever and it's laying out some of its plans today and tomorrow to investors. Among those plans are improving EBIT-adjusted margins and doubling annual revenue to a total of at least $280 billion before 2031.
Recently General Motors announced plans to invest a further $35 million in electric vehicle technology over the next four years and this is the next revelation coupled to that plan.
They also just announced three other factors that should assist overall market share growth. The first being the Silverado EV, which will make its public debut in January at CES 2022.
The second is that Ultra Cruise, General Motors answer to Tesla's Full-Self-Driving Autopilot, will be featured on production vehicles as early as 2023.
Finally, the company plans to bring at least 30 new electric vehicles to the global market by the end of the decade. That will include the Silverado, the Cadillac Lyric, and the new Hummer EV among others.
These advancements led GM CEO Mary Bara to say "GM’s vision of a world with zero crashes, zero emissions and zero congestion has placed us ahead of much of the competition in electrification, software-enabled services and autonomy...
Our early investments in these growth trends have transformed GM from automaker to platform innovator, with customers at the center. GM will use its hardware and software platforms to innovate and improve their daily experience, leading everybody on the journey to an all-electric future."
If General Motors can indeed double their annual revenue it would certainly put them far ahead of many other companies in the space. Still, it remains to be seen if they can overtake Tesla at the top of the EV mountain.
GM is as ambitous as ever and it's laying out some of its plans today and tomorrow to investors. Among those plans are improving EBIT-adjusted margins and doubling annual revenue to a total of at least $280 billion before 2031.
Recently General Motors announced plans to invest a further $35 million in electric vehicle technology over the next four years and this is the next revelation coupled to that plan.
They also just announced three other factors that should assist overall market share growth. The first being the Silverado EV, which will make its public debut in January at CES 2022.
The second is that Ultra Cruise, General Motors answer to Tesla's Full-Self-Driving Autopilot, will be featured on production vehicles as early as 2023.
Finally, the company plans to bring at least 30 new electric vehicles to the global market by the end of the decade. That will include the Silverado, the Cadillac Lyric, and the new Hummer EV among others.
These advancements led GM CEO Mary Bara to say "GM’s vision of a world with zero crashes, zero emissions and zero congestion has placed us ahead of much of the competition in electrification, software-enabled services and autonomy...
Our early investments in these growth trends have transformed GM from automaker to platform innovator, with customers at the center. GM will use its hardware and software platforms to innovate and improve their daily experience, leading everybody on the journey to an all-electric future."
If General Motors can indeed double their annual revenue it would certainly put them far ahead of many other companies in the space. Still, it remains to be seen if they can overtake Tesla at the top of the EV mountain.
Google News