GM executives will provide a more detailed look at the company’s plans to spend $ 35 billion through 2025 on electric and autonomous vehicles, and provide revenue and profit margin growth targets for the subsequent five-year period. according to people familiar with the plans who asked not to be identified.
“GM has gone from being an automobile manufacturer to a platform company,” said one of the sources. “The question to ask is, are we going to see a doubling of revenues? Are we going to see an expansion in margins?” “Stay tuned for impressive revenue figures and margin expansion.”
GM’s revenue last year was nearly $ 122.5 billion.
The strategy of GM CEO Mary Barra, who took the helm in 2014, has so far pushed the company’s stock price up from a narrow band around its 2010 initial public offering price of $ 33. up to almost double at any given time. The shares were trading at about $ 53 on Friday.
Next week’s event aims to persuade investors to value GM, which has a market capitalization of about $ 75 billion, closer to Tesla, valued at $ 762 billion.
Also Wednesday, GM will reveal more details surrounding its planned electric vehicle launches, beyond the upcoming GMC Hummer pickup, EV600 delivery van and Cadillac Lyriq crossover.
This includes plans for electric versions of GM’s Chevrolet Silverado and GMC Sierra trucks in late 2022 and late 2023, respectively, according to sources.