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General Motors’ promise for the future: Double revenue, lead in electric cars – WDIV ClickOnDetroit


WARREN, Mich.General Motors is hosting its 2021 investor day pitching Wall Street on its plans to double revenue to $280 billion by 2030 and showcasing its plans for electric vehicles and new technology.

Wednesday was the first of a two-day event which started at the Warren Tech Center and will finish Tuesday at the proving grounds in Milford.

Original report: GM sets to double revenue, lead US in electric vehicle sales

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“We’ve changed the world before and we’re going to do it again,” said CEO Mary Barra.

Investors gut and earful about GM’s electric and autonomous vehicle plans including commercial electrical vehicle startup BrightDrop.

“Our EV portfolio will be the broadest and best in the business,” said GM President Mark Reuss.

Currently, GM is valued at $79 billion while Tesla is valued at $750 billion. GM said it expects to sell 1 million electrical vehicles globally by 2025.

Read: GM sales sharply decline in 3rd quarter due to part shortages


GM to build massive EV battery development lab in Warren

General Motors says it’s building a huge new electric vehicle battery lab in Michigan where scientists will work on chemistry to cut costs 60% over current vehicles and allow people to travel 500 to 600 miles (800 to 965 kilometers) per charge.

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Structural steel already is in place for the 300,000-square-foot (28,000-square-meter) lab on the grounds of GM’s Technical Center in Warren, Mich.

Executives say the lab will be operational by mid-to-late next year and will house hundreds of engineers and others who will work on battery innovations and how to manufacture them.

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