DETROIT—General Motors Co 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. “What we’re doing here is essentially redeploying some of the upside earnings from the additional volume into acceleration and taking a longer-term view than just trying to maximize short-term profit,” GM Chief Financial Officer Paul Jacobson said during a conference call. GM plans annual capital spending of $9 billion to $10 billion this year and for the next several years, Jacobson said. GM is not paying a dividend. Chief …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta