GM (US.GM) prioritizes faster EV launches ahead of fatter profits - 02 februarie 2022

General Motors on Tuesday said it will spend more than the $35 billion previously planned through 2025 to speed up launches of new electric vehicles, and noted that investments in technology will take priority over richer profits next year.

GM said it expects 2022 operating profit of $13 billion to $15 billion, in line with a record 2021 operating profit of $14.3 billion, even though vehicle production is expected to increase as semiconductor supplies improve and pricing power remains strong.