GM Stock Falls: GM aims to be number one in US e-vehicle sales – more than double by 2030 | 06.10.21

General Motors (GM) wants to double its sales by 2030 and is counting on expanding its electric vehicle range.

In introducing the new goals, the American automaker also targeted Tesla directly: General Motors wants to be the leader in e-car sales in the United States. However, the group did not provide a specific timeline for achieving this goal.

With sales, profitability is also expected to rise above the 7.9 percent operating margin recently achieved. With new car models and services, the yield can be increased, the group announced at the Detroit Research Center for investors and analysts.

Announcing such long-term financial goals is an unusual move for the auto group and underscores its efforts to persuade investors to classify the company as a technology-oriented company rather than a manufacturer.

GM also announced Wednesday that it will launch an electric Chevrolet crossover for about $30,000. The group did not provide any information on the timetable.

GM’s sales last year were $122.5 billion worldwide.

Shares of General Motors finally fell 0.95% to $53.83 on the New York Stock Exchange on Wednesday.

New York (Dow Jones)