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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

Nathan Bomey, author of Closer
Jan 13, 2022 - Economy & Business

Exclusive: Fugitive Carlos Ghosn calls Japanese justice system a 'joke'

Photo illustration: Shoshana Gordon/Axios. Photo: Hasan Shaaban/Bloomberg via Getty Images

Former Nissan boss and international fugitive Carlos Ghosn predicts a major reordering of the power center in the auto industry, he told Axios in an exclusive interview.

Why it matters: Ghosn was once one of the automotive industry's most powerful leaders — among the first major execs to invest in electric vehicles. His comments now come during a major inflection point in the sector's transition to EVs as companies battle for positioning.

Updated 2 mins ago - Energy & Environment

Bomb cyclone prompts blizzard warnings from Virginia to Maine

Computer model projection showing the intense storm off of Cape Cod on Jan 29, 2022, with heavy snow and strong winds lashing the coastline. (Weatherbell.com)

Blizzard warnings are in effect for 11 million people from coastal Virginia to eastern Maine as a historic winter storm is set to slam the Mid-Atlantic and Northeast beginning Friday.

Why it matters: The storm will bring hazards ranging from zero visibility amid hurricane force wind gusts and heavy snow, to coastal flooding that will erode vulnerable beaches and threaten property from the Jersey shore to coastal Massachusetts.

Updated 18 mins ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: Contact tracing fizzles across America — New clues emerge on long COVID — Omicron is finally burning out — It's very difficult to get access to antiviral COVID treatments — Axios-Ipsos poll: Omicron's big numbersAnother wave of death — FDA limits use of Regeneron and Lilly antibody treatments.
  2. Vaccines: Pfizer begins clinical trial for Omicron-specific vaccine — The shifting definition of fully vaccinated.
  3. Politics: Virginia AG says public colleges can't mandate COVID vaccines —Alaska governor joins Texas lawsuit over National Guard vaccine mandate — Navy discharges 45 sailors for refusing vaccine — Spotify to remove Neil Young's music after his Joe Rogan ultimatum — White House: 60M households have ordered free COVID-19 rapid tests.
  4. World: U.K. to lift travel testing requirement for fully vaccinated — Beijing Olympic Committee lowers testing threshold ahead of Games.
  5. Variant tracker

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