GM to double revenues and increase capacity for EV assembly at factories

General Motors secured its pivot to a high-tech future Wednesday by announcing plans to convert more assembly plants in North America to make electric vehicles by the end of the decade and to double company revenues by that time as it unveils more software and new EVs.

GM leaders are expected to reveal new technology, such as an advancement to the automaker’s hands-free driving system, as well as more EV products, including a new Chevrolet SUV EV priced at $30,000, during its annual Investor Day presentation, starting at 1 p.m. ET.

“Our early investments in these growth trends have transformed GM from automaker to platform innovator, with customers at the center,” said CEO Mary Barra. “GM will use its hardware and software platforms to innovate and improve their daily experience, leading everybody on the journey to an all-electric future.”