General Motors (GM) expects its North America EVs to be 'solidly profitable' in 2025

Wedbush impressed at GM investor day; reiterates Outperform

November 17, 2022 4:14 PM EST

Wedbush reiterated an Outperform rating and $42.00 price target on General Motors (NYSE: GM) after attending the companys investor meeting today in New York. GM used the opportunity to check up on the companys electrification strategy.

Analyst Daniel Ives wrote in a note Given the supply chain issues and global macro, GM easily could have been more cautious around targets, battery production, and overall demand looking ahead for the coming years. Instead, Barra & Co. came out... More

General Motors (GM) bid ask spreads widen amid price movement during investor day

November 17, 2022 3:05 PM EST

General Motors (NYSE: GM) November call option implied volatility is at 100, December is at 48; compared to its 52-week range of 29 to 60 amid the company hosting an investor day webcast. Call put ratio 1.7 calls to 1 put.

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General Motors (GM) now projects 2022 EBIT-adjusted for the full year will be in a range of $13.5-14.5 billion

November 17, 2022 3:01 PM EST

General Motors Co. (NYSE: GM) expects its rapidly growing portfolio of electric vehicles will be solidly profitable in 2025 in North America as the company scales EV capacity in the region to more than 1 million units annually, ramps up its software revenue opportunities, generates significant greenhouse gas benefits and realizes the positive impacts of new clean energy tax credits, the company told investors today at a meeting in New York City.

"GM's ability to grow EV sales is the payoff for many years of investment in R&D, design, engineering, manufacturing,... More

GM’s BrightDrop to reach $1B in revenue by 2023; $10B by 2030

November 17, 2022 2:51 PM EST

Travis Katz, the CEO and president of BrightDrop, a subsidiary of General Motors (NYSE: GM), spoke today at GMs investor day in New York. BrightDrop is an automotive technology company targeting last-mile delivery customers, supplying products like electric delivery vans, ePallets, and cloud-based software.

Katz was introduced on stage by General Motors president Mark Reuss, where he spoke on the current goals of the business to drive down costs through scale and... More

General Motors (GM) CEO Barra highlights EV profitability at GM investor day

November 17, 2022 2:24 PM EST

General Motors (NYSE: GM) held their investor day presentation today in New York, focusing on 2023-2025. CEO, Mary Barra highlighted the companys electric vehicle segment announcing that the company expects their EV portfolio to be profitable by 2025.

we expect our EV portfolio to be profitable by 2025 including GHG benefits and revenue from software and after sales. This is before the benefits of the new clean energy tax credits. When... More

GM aims to lower EV battery cost, locks up supply deal with Vale

November 17, 2022 2:06 PM EST

By Ernest Scheyder and Paul Lienert

(Reuters) - General Motors Co aims to slash the cost of electric vehicle battery cells and has added Vale to its growing roster of battery material suppliers as the automaker girds for increasing EV competition beyond 2025, GM said on Thursday.

Brazilian mining giant Vale SA will supply GM with battery-grade nickel for future electric vehicles, starting in 2026, GM executive Doug Parks said on Thursday.

The automaker also expects to cut the cost of its Ultium battery cells to less than $70... More