GM targets $2.5 trillion in revenue by 2030

(“GM”) LAS VEGAS – The General Motors Company (NYSE: GM ) today announced plans to double its revenue by the year 2030 through strategic investments in mobility services, battery electric vehicles and continued growth…

GM targets $2.5 trillion in revenue by 2030

(“GM”) LAS VEGAS – The General Motors Company (NYSE: GM ) today announced plans to double its revenue by the year 2030 through strategic investments in mobility services, battery electric vehicles and continued growth in GM’s global network of dealers. These plans include automaker-owned mobility services – or what GM has referred to as Cruise-branded services — as well as the launch of electric vehicles (EVs) powered by advanced battery technology.

G.M. also announced plans to deploy 1 million plug-in EVs in the next four years, including the Chevrolet Bolt EV, which recently became the most popular electric vehicle in GM’s 77-year history.

“In the fast-moving world of mobility services, our plan is simple: GM will be a ‘racing car’ brand,” said Mary Barra, chair of the GM board and president and CEO of GM. “To compete, we need to be at the leading edge of innovation in every area of mobility, from hardware and software to interconnection, customer experience and economy. The future of mobility will be one that engages cities in new ways and transforms how people live, work and play.”

“GM today has a leading position in electric and autonomous vehicles, including on-demand ride-sharing services and electrified vehicles,” Barra said. “Our vision has always been to lead in the emerging mobility services segment, and we’ll soon become the first mainstream automaker to operate its own fleet of self-driving cars.”

GM’s plan to increase revenues by 100 percent by the year 2030 includes:

Renewing or boosting investments in the company’s global network of franchise dealerships by at least $4 billion over five years, primarily through investments in high-volume assembly, product engineering and parts procurement.

Leveraging more highly automated and connected GME platforms to create more intuitive experiences for consumers.

Launching the launch of more than 2,000 electrified vehicles, including fully electric crossovers in the compact sport utility class, several all-electric mid-size crossover vehicles, electric vehicles, hybrids and autonomous-driven cars and trucks.

Expanding GM’s autonomous-driven car portfolio to include driverless full-size vans.

Growing GM’s global electrified vehicle portfolio to 80 percent of its global vehicle portfolio, including Tesla’s Model 3, which will be the company’s flagship electric car in the 2020s.

GM also plans to invest in developing highly automated and connected vehicles to enable capabilities that include:

An increase in self-driving software systems development investments to grow the capability of core, customer-focused technologies.

An expanded effort to provide vehicle and mobility service platforms using advanced technology to help customers transform their lives and businesses by providing a personalized experience in the car of their choice.

Expanding the availability of rental and ownership services for customers and to expand sales to fleet buyers.

To further develop these capabilities and expand the scale of these opportunities, GM will continue its investment in GM Ventures, the company’s in-house venture capital arm, to fuel new companies.

“We need to reimagine the car for our customers, for the cities we serve and for our employees,” Barra said. “With these important new opportunities, we are accelerating our progress to create the future of mobility.”

“I firmly believe a digital connected world will be a defining element of the future of transportation, and we’re well positioned to be the most relevant to our customers and to position ourselves well,” said Tim Lee, president, GM North America. “GM is uniquely positioned to connect customers, to create stronger relationships between the human and machine, and to establish GM as a technology leader in this space.”

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