10/6/2021, 6:33 PM (Source: TeleTrader)
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GM to unveil plans for EV market leadership

General Motors Company will meet with investors on Wednesday and Thursday and reveal its plans to double annual revenues within the current decade and grow profits while transitioning to an "all-electric future."

"GM's vision of a world with zero crashes, zero emissions and zero congestion has placed us ahead of much of the competition in electrification, software-enabled services and autonomy," declared GM CEO Mary Barra. To that end, the company will share the first details of Ultra Cruise, "a significant next step in hands-free advanced driving-assistance technology... designed to handle 95 percent of all driving scenarios on every paved road in the U.S. and Canada."

The automaker will announce various plans aimed at attaining leadership in electric vehicle (EV) market share in the United States, launching the Ultifi digital service to increase the lifetime value of vehicles and increasing EV manufacturing capability to more than 50% of its North America and China footprint.

Baha Breaking the News (BBN) / IB