General Motors outlines plans for electrifying growth
At a two-day investor event, the company detailed how it will double annual revenues by 2030 with increased margins by rapidly scaling EV manufacturing, adopting a dual-platform strategy for hardware and software, and new business initiatives and technologies including next-generation Ultra Cruise.
Last week, General Motors Co. briefed investors on its plans to double annual revenues by the end of the decade while growing margins as it transitions to an all-electric future. The company has already announced plans to invest $35 billion through 2025 in electric and autonomous vehicles (EVs and AVs) and launch more than 30 new EVs globally.
“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,” said GM Chair and CEO Mary Barra. “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.”
Joining Barra for the two-day event at the GM Global Technical Center in Warren, MI, were top company execs Mark Reuss, President; Doug Parks, Executive Vice President, Global Product Development, Purchasing and Supply Chain; Alan Wexler, Senior Vice President, Innovation and Growth;