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GM Plans to Double Profits, Pass Tesla

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Oct. 12, 2021—General Motors told investors last week that the automaker plans to double revenue by 2030 expanding profits from combustion vehicles even as it rolls out new electric vehicles and new digitally powered services to catch up with Tesla. 

According to a Reuters report, annual revenue by 2030 would be about $280 billion, and the automaker would be the leader in U.S. electric vehicle sales.

Still, GM's market capitalization of about $78 billion remains far behind Tesla's $773 billion market cap, reflecting investor skepticism that GM can match Tesla's battery and software prowess.

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