GM says 2040 is its vision of a new transportation world

General Motors plans to double its revenue within 20 years and serve 50 million electrified vehicles by 2030, a move it hopes will reverse years of decline and reinvent itself as the most trusted…

GM says 2040 is its vision of a new transportation world

General Motors plans to double its revenue within 20 years and serve 50 million electrified vehicles by 2030, a move it hopes will reverse years of decline and reinvent itself as the most trusted name in transportation.

The company shared a 51-page report of its vision for 2040 Monday, a modern-day blueprint for reinventing the auto industry, which drew criticism from pro-environmental groups, some of which wondered how GM would fund environmental change.

They want the company to make cars far more efficient, more likely to withstand crashes and less polluting.

Other green groups were, predictably, downright skeptical.

GM struck back, saying while a combined zero-emission fleet of vehicles and plug-in hybrids will require them to upgrade, it will save the company money and be a good fit with its mandate for accessibility and diversity.

To keep costs down, GM’s Model X electric SUV will be assembled in China, and most of its future plug-in hybrids will be built in the U.S.

Customers will have their choice of plug-in cars and vehicles with engine and battery hybrids, including technology that allows electric vehicles to run on gas.

“It’s time for a vision that melds our company vision with our responsibility as a global corporation,” said Dan Ammann, the automaker’s chief executive. “Our long-term plans are grounded in the need to redefine the ecosystem of mobility.”

GM said its competitors, including Toyota, Volkswagen and Tesla, are just beginning to embark on the types of transformations it is planning.

In all, the company said it planned to double revenue from $187 billion last year to $450 billion by 2040.

The company will add 10 new vehicle platforms, including the first completely new platform in GM’s history and make a $5 billion investment in batteries, batteries powertrains and autonomous vehicles.

GM also said it wants to “transform” its core business by expanding operations in mobility and controlling three-quarters of its revenue from outside North America.

Finally, it wants to be more transparent, open and build trust through actions and relationships with customers and society.

GM also said it planned to solve the transportation shortage in every market — most notably China — that makes it necessary to produce millions of zero-emission and plug-in vehicles.

“We are reimagining mobility,” Ammann said. “By 2040, GM will have 50 million plug-in electrified vehicles on the road.”

Mountain View, Calif.-based Greenpeace praised GM for embracing electric vehicles, plug-in hybrids and autonomous driving, but questioned how the automaker planned to fund them.

“GM’s corporate goals seem fundamentally rooted in the market reality of its boardrooms and some foreign markets,” said Aswath Damodaran, the group’s director of business ethics and business analysis. “We’re hoping the company will take a more ambitious vision of connecting all the elements necessary to operate and measure sustainability.”

Backed by a $2.5 billion technology fund, GM plans to develop a $10 billion self-driving vehicle fleet over the next five years.

It is partnering with Lyft to offer low-emission vehicles across the country and extend its mobility services to consumers beyond vehicles.

It plans to enter 12 new markets around the world, including Finland, Germany, Vietnam and Argentina.

These changes, however, aren’t about sending the company’s credit rating through the roof or lining the pockets of executives or public employees, the automaker said.

They are designed to improve an array of issues from pollution and affordable transportation to obesity and traffic.

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