Perhaps tired of watching newcomers like Tesla race ahead in valuation, GM plans to double revenue, mostly via new businesses like self-driving cars. Yet, the projected car company of 2030 looks little changed, JMAGuilford writes.
General Motors said on Oct. 6 that it plans to double its revenue by 2030 by growing into new business areas like self-driving vehicles and subscription services. The U.S. automaker also said it would improve its operating margin to as high as 14%, compared with analyst estimates of just over 9% for 2021, according to Refinitiv.
GM foresees autonomous vehicle startup Cruise ramping up to $50 billion in revenue by 2030. The company made $122 billion of revenue overall in 2020.A Cadillac Lyriq electric vehicle under General Motors is seen during its world premiere on a media day for the Auto Shanghai show in Shanghai, China April 19, 2021.
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