General Motors (GM) will aim to calm shareholder concerns on Tuesday regarding slower-than-expected demand for electric vehicles (EVs) and perceived peak demand for gasoline-powered trucks. At an investor day in Spring Hill, Tennessee, CEO Mary Barra and her executive team will emphasize that profit margins for internal combustion engine (ICE) vehicles have not peaked and that GM’s EV sales are gaining momentum, according to sources.
During the event, GM is expected to shift focus away from aggressive growth goals, like the 2021 announcement, to double revenue by 2030 and instead emphasize stability in both the EV and ICE segments. The company will likely provide updates on its restructuring efforts in China and address challenges with its Cruise autonomous vehicle division, which has struggled since a 2023 incident involving one of its self-driving cars.
Investors will also hear details on GM’s Ultium Cells battery technology and tour the company’s battery and EV assembly operations at the Tennessee plant. This is part of GM’s broader push to reduce costs and improve the affordability of EVs. Last month, GM signed a non-binding agreement with Hyundai to explore partnerships that leverage both companies’ strengths to accelerate the rollout of EVs and related technologies.
Despite the slower-than-expected EV transition across the industry, GM executives plan to reassure investors that profitability on electric models is closer than anticipated. Additionally, GM will unveil plans for eight refreshed ICE models by the end of 2025, which are expected to bolster profit margins in the near term.
This meeting marks the first investor day since 2022, as GM postponed last year’s event to focus on resolving the United Auto Workers (UAW) strike. The company will highlight that its third-quarter sales, including notable gains in EVs, set a positive foundation heading into the meeting.
