Paul Lienert, Ben Klayman

DETROIT, (Reuters) – General Motors Co. (NYSE:) intends to present itself as a tech platform company as well as a manufacturer of electric cars when it meets investors next week. It will also announce a plan for at least 20 EVs being introduced in the United States within the next few years.

Number 1. U.S. No.1 automaker stated it will speak on Wednesday about its growth strategy. It also mentioned EV and software platform benefits, the self-driving automobile business and its financial roadmap. This is in an effort to attract new investors.

According to sources familiar with the plans and who requested anonymity, GM executives will present a deeper look into the company’s plan to invest $35 billion in EVs, autonomous vehicles through 2025. They will also provide revenue and profit margin growth targets over the next five years.

Sources said that GM had transformed from being an automaker to a platform firm and they were able to do many other things.

The question that you need to ask is “Will we see a doubling in revenues?” Is there margin growth? These are the types of things you can expect to see over the course of time,” the other person said. Keep your eyes peeled for some impressive revenue growth and margin expansion numbers.”

Last year’s revenue for GM was close to $122.5 million.

Mary Barra, GM Chief Executive, has risen the share price by nearly doubling it since she took over in 2014. On Friday, the shares traded at $53

The next week’s event aims to persuade investors to value GM, which has a market capitalization around $75 billion), more like Tesla ($762 trillion).

MORE EV PICKUPS COMING

GM will provide more information on its planned EV product launches, including the GMC Hummer pickup truck, EV600 van delivery vehicle, and Cadillac Lyriq cross-over. That includes plans for electric versions https://www.reuters.com/business/autos-transportation/gms-pickup-money-machine-gets-technology-tuneup-2021-09-09 of GM’s Chevrolet Silverado and GMC Sierra full-size pickups in late 2022 and late 2023, respectively, according to the sources as well as an industry forecast provided by AutoForecast Solutions (AFS).

Sources said that part of the investor conference will focus on determining what proportion of GM’s vehicle sales will come from electric vehicles by 2030. In January, the automaker set a target to make all new light cars with no tailpipe emissions by 2035.

Sources said that GM would discuss software and what it can do financiallly to make Detroit’s business more cyclical than the auto industry.

Last week, GM introduced the branding for its software platform, Ultifi https://www.reuters.com/article/us-gm-evs/gms-barra-accelerates-all-out-pursuit-of-global-ev-leadership-idUSKBN27Z2QI – coming in 2023 – and discussed building an App store-like approach to making the platform open for developers.

Software-oriented services and products are crucial to GM’s and other automakers maintaining profit margins in the transition to connected or electric cars. However, this will also force companies to develop skills and workforces that they did not have previously.

GM will also explain its Ultium battery partnership, which it has with LG Energy Solutions, a unit from LG Chem. GM will also discuss how the scaling up of production will help to reduce costs. Ken Morris, GM vice-president of EVs/AVs said this week at a conference. He stated that “We’re truly knitting together all aspects of our growth strategies.”

According to AFS (which is based on information from suppliers about planning, GM is expected to introduce at least 20 new electric vehicle models in the United States – mostly pickups, SUVs, crossovers – by 2028. 

More concrete details, including the timing, pricing and projected volumes of future EVs, could be critical in wooing investors as GM copes with the costly and damaging recall https://www.reuters.com/business/autos-transportation/gm-recalling-73000-bolt-evs-cost-1-billion-halts-sales-2021-08-20 of the Chevy Bolt EV for battery-related fires.

At the same time, competitors are ramping up their own EV initiatives, including Ford Motor (NYSE:) Co’s announcement this week of an $11.4 billion blitz https://www.reuters.com/business/autos-transportation/ford-sk-invest-114-bln-add-electric-f-150-plant-three-battery-factories-2021-09-27 with Korean battery partner SK Innovation.

GM already has its EV range in place for late 2022. The next year, however, will see the launch of at least five new EVs, AFS reported. These include the GMC Hummer SUV, Cadillac Celestiq sedan (which is likely to fetch well over $100,000) and the Chevy Blazer SUV.

AFS stated that GM will introduce five more EV models after this, in 2026 and 2027, as well as two additional models in 2027, 2028, 2028, 2026, 2027, 2027, 2027, and two other in 2028. Among them are future all-electric Cadillac Escalades, Chevrolet Tahoe, GMC Yukon SUVs and a new Cadillac crossover called Symboliq.

GM plans to construct many future EVs in five North American plants: Orion Township, Detroit-Hamtramck, Spring Hill, Tennessee, Ingersoll Ontario and Ramos Arizpe in Mexico’s state of Coahuila.