GM to lead electric Sales, it recently launched a small Cheverolet SUV. It is expected to hit markets with a $30,000 price tag. The company is also expected to bring in electric trucks from Chevrolet and GMC. GM aims to lead electric sales by introducing crossover SUVs from Buick, and luxury vehicles from Cadillac. An electric Cheverolet Silverado pickup with a range of 400 miles per charge is also expected to join the lineup.
The world prepares to shift from combustion engines to battery power. GM has made a trajectory to double its revenue by 2030. The new lineup of vehicles from GM gives the company hopes of unsettling Tesla. The aim is to become a leader in the electric vehicle market. GM plans on equipping more than half of its North American and Chinese factories to manufacture electric vehicles by 2030.
2020 saw GM earning total revenue of $122.5 billion. Doubling it by 2030 would mean, that the auto manufacturer would have to generate a revenue of $250 billion. GM aims to achieve this target by selling its internal combustion vehicles. Adding to its revenue with the sale of electric vehicles. The company also expects to add $20 billion to $25 billion through software and services.
Another source of revenue will be Ultra-Cruise. It is the company’s next generation of the electronic hands-free driver-assist system. It will carry out 95% of the driving tasks. This system is due to feature on a few Cadillacs by 2023. The company plans to shell out $35 billion to bring in 30 new battery-operated vehicles by 2025. The company has intentions of selling only electric vehicles by 2035.