DETROIT – General MotorsInvestors were given a comprehensive look at Wednesday’s financial operations by Ford Motor Company. It explained how it plans to increase profit margins, double its revenues to $280 billion over the next decade.

Mary Barra, GM’s CEO, and her executive staff plan to make the old automaker a modern company. calling a “platform company,”To expand its business of selling and building cars, leverage it.

Barra, GM’s chief technology officer said that General Motors “is delivering the technologies which redefine how people or goods are moved.” Barra spoke Wednesday on GM’s suburban Detroit tech campus during the inaugural of a two-day conference. two-day investor event.“Our vision for a world where there are no crashes, zero emission and no congestion puts us in a clear advantage over most of the competitors.”

GM’s five-hour announcements didn’t impress investors immediately. On Wednesday, GM’s shares closed down less than 1% at $53.93 per share. On Thursday, shares were slightly higher at $55.25 pershare.

Paul Jacobson, GM Chief Financial Officer and CEO of the company said that he was not concerned about the slowing stock price movement after the second day of an investor event. According to him, the company was looking for a solution. to clearly layout its plans,Some may have been destroyed by the investors who lost their money due to the coronavirus epidemic. global semiconductor chip shortage.

He told reporters that “we obviously put a lot of on the market today” and that they would process it. However, he said that he was very confident. We came here today not to raise the stock market, but to show people the mentality of what is happening.

As GM attempts its plan execution, investors need to be aware of other figures than the one that is driving revenue growth.

GM intends to raise its operational profit margin by between 5% and 10% 12% and 14% by 2030This is a significant increase from 7.9% in 2020. This is an increase of 7.9% from 2020.

The company’s expansion to create recurring software was the focus of much of Wednesday’s investor day. service-based revenue.

GM aims at increasing revenue for operations like OnStar, and other businesses like Cruise (majority-owned self driving subsidiary) or BrightDrop (commercial EV unit), which could increase its revenues from $2B to $80B by 2030.

GM indicated that the majority of new and incremental revenue would be in the latter half of this decade.

The sixth of six permits were granted to the company last week. to commercialize a self-driving ride-hailing fleetIn the state.

Cruise targets a fleet consisting of 1 million or more self-driving vehicles by 2030According to Ammann’s presentation to investors,

Ammann stated, “We anticipate scaling the business quickly.”

Ammann was not specific about the 2030 goal, but Cruise spokespersons confirmed that Cruise believes the target can be achieved.

GM has revealed for the first time its previous plan of spending. $35 billion on electric and autonomous vehiclesThrough 2025

It includes $20B in capital and engineering for electric cars; $10B in battery production and research, and new plant development; and $6B in cruise.

GM announced that in 2023, it will launch a new hands-free technology called “Ultra Cruise”The system can be used in 95% of all scenarios. It is anticipated that the system will be much more versatile than its existing Super Cruise system which can only drive on pre-mapped, divided highways.

GM announced that Ultra Cruise would be offered on over 2 million miles of roads in America and Canada at launch. Super Cruise can be found on over 200,000 miles.