GM Targeting $50 Billion In EV Revenue By 2025
General Motors is going all out when it comes to EVs.
In a recent press release, General Motors outlined several of its short-term goals related to electrification. Undoubtedly, the firm is dedicated to launching EVs and soon aims to have multiple electric offerings in 70% of industry segments. By 2025, GM aims to generate $50 billion a year in EV revenue. The firm's CEO, Marry Barra, stated the following:
“GM’s ability to grow EV sales is the payoff for many years of investment in R&D, design, engineering, manufacturing, our supply chain and a new EV customer experience that is designed to be the best in the industry.”
Barra also discussed how GM's "multi-brand, multi-segment, multi price point EV strategy" gives it "incredible leverage" to grow revenue and market share. Furthermore, Barra mentioned the positives of GM's Ultium Platform and how it will continuously be improving.
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The press release mentioned the Chevrolet Silverado EV, Equinox EV, and Blazer EV, the Cadillac LYRIQ, and the GMC Sierra EV as key models which will seriously boost sales. Meanwhile, other vehicles like the Cadillac Celestiq will serve as flagships for the brand but clearly won't have a major commercial impact given the limited numbers they will be sold in.
In North America, GM aims to build 400,000 EVs from 2022 through the first half of 2024. By 2025, the automaker wants to make 1 million EVs annually in North America.
Source: General Motors
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