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Photo: Mario Tama/Getty Images

General Motors is offering detailed revenue goals for its electric vehicle business and new info about plans for new models.

Driving the news: Here are the juicy bits of their investor presentation and announcements Wednesday.

  • GM's gunning for "leadership in EV market share" — a shot across Tesla's bow — with a broad portfolio of high-volume EVs.
  • These include a $30,000 Chevrolet crossover SUV, and an electric Chevrolet Silverado pickup, Buick crossovers and Cadillac EVs.
  • Overall, as part of wider plans to double revenues over the next decade, GM sees $90 billion in revenues from EVs in 2030.
  • And that doesn't even include the $10 billion they project from its new BrightDrop line of electric delivery vehicles.

The intrigue: Beyond vehicles, GM announced a collaboration with GE to boost supplies of rare earth materials used in EVs and renewable power.

GM also said it's increasing its investment in charging infrastructure to about $750 million through 2025.

The bottom line: GM's betting big on the transition to cars and trucks with a plug, even as it also sees a long-term future for gas-powered models.

Go deeper

Oct 7, 2021 - Technology

GM will vastly expand hands-free driving by 2023

Illustration: Rebecca Zisser/Axios

Starting in 2023, owners of some premium General Motors vehicles will be able to push a button and navigate hands-free in 95% of driving situations — including highways, subdivisions and city streets.

Why it matters: Ultra Cruise — the next-generation assisted-driving technology that GM introduced Wednesday — is a giant step forward in the automaker's goal of "zero crashes, zero emissions and zero congestion."

Fintech's record year

Illustration: Annelise Capossela/Axios

Massive venture rounds into fintech companies have ballooned this year, pushing up total dollars invested — in just the first three quarters of 2021 — to nearly double the amount in all of 2020, per new PitchBook data.

Why it matters: The maturing of fintech startups means a growing number of companies are able to raise huge later-stage funding rounds as investors look to lock-in their bets.

Ben Geman, author of Generate
2 hours ago - Energy & Environment

Democrats' clean power outlook is very muddy

Illustration: Annelise Capossela/Axios

Here are two big questions as a key Democratic proposal to slash emissions from power generation flounders: how much its demise would sap climate protections, and what might replace it.

Catch up fast: New financial carrots and sticks for utilities to deploy zero-carbon power — the Clean Electricity Performance Program (CEPP) — look unlikely to stay in Democrats' big social spending and climate bill.

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