GM sets to double revenue, lead US in electric vehicle sales
ABC News
General Motors plans to cash in as the world switches from combustion engines to battery power, promising to double its annual revenue by 2030
WARREN, Mich. -- General Motors plans to cash in as the world switches from combustion engines to battery power, promising to double its annual revenue by 2030 with an array of new electric vehicles, profitable gas-powered cars and trucks, and services such as an electronic driving system that can handle most tasks on the road.
In announcements Wednesday ahead of a two-day investor event in suburban Detroit, the company also pledged to unseat Tesla and become the electric vehicle market share leader in U.S., although no time frame was given.
The company also teased upcoming new electric vehicles including a Chevrolet small SUV that will cost around $30,000, as well as electric trucks from Chevrolet and GMC, crossover SUVs from Buick, and luxury vehicles from Cadillac. An electric Chevrolet Silverado pickup truck that can go 400 miles per charge will be unveiled at the CES gadget show in January.
The Detroit automaker plans to have more than half of its North American and China factories be capable of making electric vehicles by 2030.
