GM to showcase electric and autonomous vehicles during investor day

sticking with that gm holding its investor day holding its investor day today i figured that uh it's holding its investor day phil lebeau doesn't that mean it would be today i think that's what we'd mean phil about joins us now with the pre i try to use as few words as possible i know that doesn't seem that way phil but what's happening huge day for general motors joe and it all centers around where's the next leg of growth for this company when you look at what's going to be happening today a series of presentations starting with ceo mary barra we'll hear from the president mark royce on down through a number of the folks leading various divisions the next stage of growth is the overall theme here but it's all going to circle around evs and avs electric and autonomous vehicles what's the potential there for general motors they see a lot of potential they want to create recurring revenue streams and when you look at what's happening with electric and autonomous vehicles for gm keep in mind that they're investing 35 billion dollars in evs and avs rolling out new products we talked about the hummer which is going to be rolling out later this year you've got the cadillac lyric and then there's also things like the cruise origin which we haven't seen that yet although we've seen it in test v in a test phase out in san francisco that's potentially going to be a huge revenue driver in the years ahead remember they've got 30 evs coming to market by 2025. the ev market is primed to explode not just for general motors but for the entire industry we've talked about this a number of times they're expected to hit one million in annual sales for electric vehicles in this country by 2025 that's going to be about eight to ten percent of the u.s market depending on how quickly americans convert over to electric vehicles as you take a look at shares of general motors keep in mind we're showing you a two-year chart here because there was really a really nice run-up late last year when people said oh look what they're doing with electric vehicles this is the time to get in on general motors but it has plateaued for the most part over the last six months today maribara is going to outline a vision for this company's growth not just over the next couple of years but further out we're talking five and ten years guys and the whole point of this is for them to say general motors will be a player in electric and autonomous vehicles not just rolling them out but creating recurring revenue streams breaking free of the model where it was sell it to the dealer get your money they want to go into having a relationship with the consumer and with their customers on a whole different level guys back to you phil uh can we i like talking gm and i'm you know i love mary barra and everything else and and i i don't know what to think of of how they're going to do i guess we will know once we watch whether they become they'll become a huge player but it's a very competitive space in tesla tesla is in the driver's seat so to speak and everybody's going to want to get into it there is no doubt and they know that they know that tesla is the leader when it comes to electric vehicles but here's what they they believe that they will i got a question coming it's not about gm it's about it's it's a personal question about tesla and about the yes and uh people are probably gonna get mad now i have considered an ev but it's a it's a tycan and it's because i like the way they look right i'm sick of the s i'm sick of seeing the s uh is there a right i can only imagine what elon can come up with if he starts even the even the 911 each year it gets a little cooler looking in terms of of what they do just small changes is there anything in the works right to change the body style fill to update it to make it cooler to make it an impulse buy for me with the s i get no sense that there is anything in the works joe why not look we could be surprised why their model has been set up where they have done some slight tweaks slight tweaks to their vehicles at tesla but they do not have the same approach that you see with traditional automakers where you see a new generation of these vehicles some of them big fins shepard smith here thanks for watching cnbc on youtube

Channel: CNBC Television

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Id: ASrAyUGAA9w

Length: 4min 15sec (255 seconds)

Published: Wed Oct 06 2021