General Motor Co.'s electric vehicle portfolio will be profitable by 2025, executives told investors Thursday in New York, delivering what it called low- to mid-single-digit adjusted margins to the bottom line.
Executives also said GM's 2022 earnings before taxes are now projected to range between $13.5 billion and $14.5 billion, a slight change from the previous guidance of $13 billion and $15 billion. GM is now expecting its full-year 2022 adjusted automotive free cash flow will increase to $10 billion-$11 billion from its previous guidance of $7billion-$9 billion.
GM's EV performance expectations highlighted Thursday to investors are before the company would see benefits from new government tax credits, executives noted. GM is now projecting revenue to grow at a 12% compound annual rate through 2025, reaching more than $225 billion as EV volumes and software revenue grow. EV revenue is estimated to be $50 billion in 2025.
