general motors strategic plan 2021

Growth Strategy

GM has the scale and ingenuity to make a difference.

Our growth strategy is the compass for where we are going. It’s a context for the choices we make in pursuit of our vision of Zero Crashes, Zero Emissions and Zero Congestion.

We are creating a culture for innovators in which ideation is deeply valued, and agility is paramount.

Customer experience.

We are focused on delivering a world-class customer experience while growing brands, loyalty and software enabled services.

Social Impact

We are creating a leading health and safety culture while striving for a diverse, equitable and inclusive team.

We innovate now while we look ahead toward tomorrow. We take responsibility and win with integrity. We are one team.

We are creating shared value for society and our stakeholders and are all-in on electric vehicles.

Product leadership.

Our goal is to have a global vehicle portfolio with advanced platforms and leading-edge technology including electric and autonomous vehicles.

Advance Platforms

We are advancing platforms like Ultium and OnStar®, leveraging existing businesses such as GM Financial and Defense while pioneering new markets in areas like Insurance.

We are leveraging our manufacturing capabilities, our global scale and our collaborations, plus modernize global inventory model and logistics for good.

People, Environment, Communities

Stem education.

Inspiring the next innovators in science, technology, engineering and math.

Vehicle and Road Safety

Working toward a future with zero crashes.

Community Development

Empowering individuals while building communities.

Climate Equity

Inclusive solutions that bring everybody along.

OnStar brand grows and diversifies

OnStar is a name that has stood for safety for 25 years. And now the OnStar Guardian™ app 1 allows members and their loved ones to take OnStar’s added peace of mind with them anywhere they go, regardless of vehicle. The introduction of the OnStar Guardian app is part of GM’s commitment on opportunities beyond vehicle sales to make the road a safer place for everyone.

In 2020, GM expanded into new, complementary insurance offerings with OnStar Insurance 2 . In the future, OnStar Insurance plans to transform traditional models to make the insurance process more personalized, fair, easy-to-use and secure for customers.

Pre-production image shown. Production model may vary. BrightDrop Zevo 600 available to order.

BrightDrop is a new business of GM that’s reimagining commercial delivery and logistics for an all-electric future.

Global e-commerce continues to grow at an unprecedented rate, and consumers want their deliveries to arrive faster than ever. BrightDrop’s suite of connected products, software and services will help enable a smarter, more sustainable future by reducing tailpipe emissions in our cities and congestion on our streets.

Ultifi platform advances vehicle intelligence

Our growth strategy is centered on our dual-platform approach — with the flexibility of the Ultium Platform we can build a wide range of EVs from the same platform, while the Ultifi* software platform will enable the frequent and seamless delivery of software-defined features to millions of customers over-the-air. Similar to a smart phone, customers can expect regular updates and will be able to choose from a suite of on-demand upgrades, personalization options and new and exciting apps.

*Ultifi is pre-production and is subject to change. Actual features, functionality, and product limitations may vary.

Jump-starting our all-electric future

Factory ZERO is GM’s first fully dedicated electric vehicle assembly plant. Formerly known as Detroit-Hamtramck, the plant was built in 1985 and has assembled more than 3 million vehicles made of globally sourced parts over the years. Today, it’s being transformed into one of the most modern automotive plants in the country.

• U.S. only. Available on select Apple and Android devices. Mobile Crash Response services are intended for use in vehicles only. Service coverage varies with conditions and location. Service availability, features and functionality vary by device and software version. Active OnStar Safety & Security plan or bundle, OnStar Guardian service plan add-on, cell reception, and device data connection required. Terms apply. Device permissions are required for app to operate properly. OnStar links to emergency services. Device and app may not transmit all crash data. See onstar.com for details and limitations. Pricing and availability subject to change. Cadillac owners are not eligible for this offer. Offer requires that you associate an approved payment method on file to your account and authorize recurring payments for your service plan. The amount and frequency of each recurring payment are based upon the service(s) and payment interval(s) you select from the options provided. You may cancel at any time by calling 1.888.4ONSTAR (1.888.466.7827).
• Policies underwritten and issued by the OnStar National Insurance Company (OnStar Insurance) may not be available in all states and are subject to underwriting eligibility. Product features, prices, coverages, and available discounts may vary by state and are subject to qualifications. Coverage is subject to policy terms and conditions.

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GM outlines business strategy and plans to 2030

GM eyes a doubling of annual revenues by 2030, boosted by software-enabled services and growth in sales of EVs.

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General Motors has provided a roadmap to investors on how it plans to double its annual revenue and expand margins to 12 to 14 percent by 2030.

GM this week concluded the first of two days of investor meetings by sharing its growth plans.

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GM’s financial targets include:

• Revenue Growth with Improved Diversification: GM outlined its path to double annual revenues from a five-year average of about $140 billion by the end of the decade, with software and new businesses growing at nearly 50 percent CAGR through 2030 and the company’s strong core auto business driving growth.
• Margin Expansion: GM believes its transformation can deliver margins of 12 to 14 percent by the end of the decade with core auto business margins expanding as EVs scale, battery costs decline and the company ramps up higher margin software and new business platforms.
• Platforms: GM projects EV revenue to grow from about $10 billion in 2023 to approximately $90 billion annually by 2030 as the company launches several compelling EVs in high volume segments. GM envisions a path where connected vehicles and other new businesses drive more than $80 billion in new, incremental revenue with most of the growth accelerating through the back half of the decade as they scale.
• Commercialization of Cruise: With Cruise, GM has a market-leading position in autonomous services with the potential to deliver $50 billion in revenue annually by the end of the decade.
• Internally Funded Capital Spending: Annual GM capital spending, including investments in Ultium joint ventures, are expected to be in the $9 billion to $10 billion range in the medium-term as the company transitions to a majority EV product portfolio. Due to GM’s strong earnings and expanding margins, the company expects to fully fund these investments through internally generated funds.
• Cash Conversion: GM expects to achieve a cash conversion rate of 80 to 90 percent in the latter half of the decade.
• Balance Sheet: GM says its strong balance sheet will allow the company to continue investing in our growth priorities while maintaining an investment grade rating, which is important for long-term growth.
• Unlocking opportunities from EVs, software-enabled services and new businesses

During the presentations and discussions with investors, GM leaders described how the company’s Ultium (hardware) and Ultifi (softaware) platforms underpin the company’s growth strategy:

• GM projects annual software and services revenue opportunities in the $20 billion to $25 billion range from a projected 30 million connected vehicles by the end of the decade. GM says OnStar is the industry’s leading connectivity platform with more than 16 million connected vehicles on the road today, with software and services generating a projected $2 billion in annual revenue. Part of GM’s software and services growth comes from OnStar Insurance, projected to have a potential revenue opportunity of more than $6 billion annually by the end of the decade.
• Cruise CEO Dan Ammann provided investors with details on Cruise’s commercialization and rapid scaling efforts as it prepares to launch the Cruise Origin AV.
• BrightDrop, a new GM business that is building a connected and electrified ecosystem of delivery products and services for commercial customers, expects to deliver $5 billion in revenue by mid-decade and potentially $10 billion by the end of the decade when it is planned to approach 20 percent margins. BrightDrop’s purpose-built, Ultium-powered EV600 full-size electric van is launching now and BrightDrop will add a second purpose-built product – the smaller EV410 – in 2023.
• GM also has a portfolio of 20 new startup businesses – several already launched, others nearing launch – helping to provide a constant pipeline of innovation and potential new revenue streams. Leaders provided a preview of an all-new software-enabled startup in development, internally called Future Roads, which uses data analytics to create insights about safer roadways and communities.
• GM also announced it is increasing investment in charging infrastructure to nearly three quarters of a billion dollars through 2025, covering all charging domains, including home, workplace, and public charging throughout the U.S. and Canada. This investment will significantly increase access to reliable, public charging with the superior customer experience of Ultium Charge 360, GM says.

“GM has changed the world before and we’re doing it again,” said GM Chair and CEO Mary Barra. “We have multiple drivers of long-term growth and I’ve never been more confident or excited about the opportunities ahead.”

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“GM is unlocking a secular growth story that is changing the trajectory of our business,” said Paul Jacobson, executive vice president and chief financial officer. “Simply stated, we are at an inflection point in which we expect revenue to double by 2030 while also expanding our margins. We will achieve this by growing our core business of designing, building, and selling world-class ICE, electric and autonomous vehicles, growing software and services with high margins and entering and commercializing new businesses.”

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General Motors to Outline Plans for Decade of Growth, Doubling of Annual Revenues by 2030 with Increased Margins

Two-day investor event will detail GM’s innovative approach to growth with transparent key financial metrics, featuring:

• GM’s dual platform strategy for hardware and software and how it will drive growth
• New business initiatives and technologies, including next-generation Ultra Cruise
• Plans to rapidly scale EV manufacturing, with more than 50 percent of North America and China plants capable of EV production by 2030
• Updates on Cruise and its progress on commercializing autonomous vehicles

WARREN, Mich. – General Motors Co. (NYSE: GM) meets with investors today and tomorrow to detail its plans to double annual revenues by the end of the decade while growing EBIT-adjusted margins as it transitions to an all-electric future. GM has already announced plans to invest $35 billion through 2025 in all-electric and autonomous vehicles and launch more than 30 new EVs globally. “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,” said GM Chair and CEO Mary Barra. “Our early investments in these growth trends have transformed GM from automaker to platform innovator, with customers at the center. GM will use its hardware and software platforms to innovate and improve their daily experience, leading everybody on the journey to an all-electric future.” Today’s events, including remarks and Q&A with Barra; GM President Mark Reuss; Doug Parks, executive vice president, Global Product Development, Purchasing and Supply Chain; Alan Wexler, senior vice president, Innovation and Growth; Dan Ammann, CEO of Cruise; Gerald Johnson, executive vice president, Global Manufacturing and Sustainability; and Chief Financial Officer Paul Jacobson, will be held at the iconic Design Dome at the GM Global Technical Center in Warren, Michigan. Topics that will be discussed today include:

• GM’s plan to reach leadership in EV market share in the U.S. while growing its profits from internal combustion engine (ICE) vehicles. GM’s growth will be driven by the Ultium modular EV platform the company developed to launch a broad portfolio of highly desirable EVs using common, scalable components. The array of Ultium-powered EVs will include high-volume entries, including a Chevrolet crossover priced around $30,000, Buick crossovers, trucks from Chevrolet, GMC and HUMMER EV, as well as exquisitely crafted Cadillac EVs such as the upcoming LYRIQ and CELESTIQ.
• GM’s dual platform Ultium plus Ultifi strategy to aggressively expand digital services and increase the lifetime value of its vehicles. Ultifi is an end-to-end software platform designed to unlock new vehicle experiences and connect customers’ digital lives. It will help enable the frequent and seamless delivery of software-defined features, apps and services to customers over the air.
• A look inside GM’s global Innovation and Growth team and its mission to disrupt any market where it sees opportunity, and open new markets. GM is managing about 20 startups of various sizes and maturity levels, some in early phases, and others such as BrightDrop and OnStar Insurance that are launching now.
• Plans for more than 50 percent of the company's North America and China manufacturing footprint to be capable of EV production by 2030.
• The five-year pull ahead to 2025 of GM's commitment to source 100 percent renewable energy for the company’s U.S. facilities.

Today, Chevrolet provided a new glimpse of one of several Ultium-based EVs it is planning - the Silverado EV pickup, which will make its global debut on Jan. 5, 2022 . In addition, GM is sharing the first details of Ultra Cruise , a significant next step in hands-free advanced driving-assistance technology that will be offered starting in 2023. Designed to handle 95 percent of all driving scenarios on every paved road in the U.S. and Canada over time, it will create a virtually door-to-door hands-free driving experience. Ultra Cruise is being developed to be the premier advanced driver-assistance system on the market in terms of both capability and safe operation. Today’s presentations will be webcast here beginning at 1 p.m. EDT with remarks by Barra. Jacobson’s presentation, which will include detailed revenue and EBIT-adjusted margin targets, will begin at 4:15 p.m. and slides will be available here . Tomorrow’s activities will include product and technology immersions, including ride and drive opportunities in the GMC HUMMER EV and experiences with Super Cruise, GM’s advanced hands-free driving technology that is expanding to 22 different models by 2023.   Additional discussions will be led by executives, software developers and engineers driving new business ventures including BrightDrop, OnStar Insurance, Ultium Charge 360, e-commerce and subscription services.  

General Motors  (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the  Chevrolet,   Buick,   GMC,   Cadillac ,  Baojun and  Wuling  brands. More information on the company and its subsidiaries, including  OnStar , a global leader in vehicle safety and security services, can be found at  https://www.gm.com .

Forward-Looking Statements

This press release and related presentations made by management may include “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent our current judgment about possible future events and are often identified by words like “aim,” “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,” “plan,” “potential,” “priorities,” “project,” “pursue,” “seek,” “should,” “target,” “when,” “will,” “would,” or the negative of any of those words or similar expressions, as well as by charts presenting aspects of our long term plan and other projections of future performance. In making these statements, we rely on assumptions and analysis based on our experience and perception of historical trends, current conditions and expected future developments as well as other factors we consider appropriate under the circumstances. We believe these judgments and assumptions are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of important factors, many of which are beyond our control. These factors, which may be revised or supplemented in subsequent reports we file with the U.S. Securities and Exchange Commission (“SEC”), include, among others, the following: (1) our ability to deliver new products, services and customer experiences in response to increased competition and changing consumer preferences in the automotive industry; (2) our ability to timely fund and introduce new and improved vehicle models, including electric vehicles, that are able to attract a sufficient number of consumers; (3) the success of our crossovers, SUVs and full-size pickup trucks; (4) our highly competitive industry, which is characterized by excess manufacturing capacity and the use of incentives, and the introduction of new and improved vehicle models by our competitors; (5) our ability to deliver a broad portfolio of electric vehicles and drive increased consumer adoption; (6) the unique technological, operational, regulatory and competitive risks related to the timing and commercialization of autonomous vehicles; (7) the ongoing COVID-19 pandemic; (8) global automobile market sales volume, which can be volatile; (9) our significant business in China, which is subject to unique operational, competitive, regulatory and economic risks; (10) our joint ventures, which we cannot operate solely for our benefit and over which we may have limited control; (11) the international scale and footprint of our operations, which exposes us to a variety of unique political, economic, competitive and regulatory risks, including the risk of changes in government leadership and laws (including labor, tax and other laws), political instability and economic tensions between governments and changes in international trade policies, new barriers to entry and changes to or withdrawals from free trade agreements, public health crises, including the occurrence of a contagious disease or illness, such as the COVID-19 pandemic, changes in foreign exchange rates and interest rates, economic downturns in the countries in which we operate, differing local product preferences and product requirements, changes to and compliance with U.S. and foreign countries' export controls and economic sanctions, differing labor regulations, requirements and union relationships, differing dealer and franchise regulations and relationships, and difficulties in obtaining financing in foreign countries; (12) any significant disruption, including any work stoppages, at any of our manufacturing facilities; (13) the ability of our suppliers to deliver parts, systems and components without disruption and at such times to allow us to meet production schedules; (14) prices of raw materials used by us and our suppliers; (15) our ability to successfully and cost-effectively restructure our operations in the U.S. and various other countries and initiate additional cost reduction actions with minimal disruption; (16) the possibility that competitors may independently develop products and services similar to ours, or that our intellectual property rights are not sufficient to prevent competitors from developing or selling those products or services; (17) our ability to manage 

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Chevrolet Silverado EV to make global debut at CES 2022. The Silverado EV will feature an available segment-leading fixed-glass roof for retail models. Simulated vehicle shown. Actual production model may vary. Initial availability to be announced at a later date.

Ultra Cruise will ultimately enable door-to-door hands-free driving on all public paved roads in the U.S. and Canada.

Growth Unlocked by Core Automotive Leadership

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