GM, Investing 42 Trillion Won in Future Car Market... Positive Momentum Continues

[Asia Economy Reporter Park Jihwan] Hana Financial Investment has announced GM's investment plan for the future car market worth 42 trillion KRW and predicted that positive stock momentum will continue.

On the 9th, Song Seonjae, a researcher at Hana Financial Investment, said, "GM has declared its transformation from an automobile manufacturing company to a platform innovation company," adding, "GM's CEO Mary Barra delivered the keynote speech at CES for the second consecutive year, presenting the vision of 3 Zero (traffic accidents, carbon emissions, traffic congestion) following last year." To this end, she emphasized the need to strengthen capabilities in electrification, autonomous driving, and software, ultimately declaring GM's transition from an automobile manufacturing company to a platform innovation company.

As a specific plan, GM intends to invest $35 billion (approximately 42 trillion KRW) in electrification and autonomous driving sectors by 2025 and launch more than 30 electric vehicle models. They are constructing production plants for battery internalization and preparing for the commercialization of advanced autonomous driving technologies such as Super Cruise and Ultra Cruise.

GM unveiled the electric vehicle model of the Silverado, a pickup truck under the Chevrolet brand. It is scheduled to be released in the second half of 2023. The expected specifications include a single-charge driving range of 640 km, 664 horsepower output, a loading capacity of 4.5 tons, and a 0-60 mph acceleration time of 4.5 seconds. The electric vehicle models currently planned for release by GM include the Silverado EV, commercial van EV600, pickup truck GMC Sierra, SUVs Chevrolet Blazer and Equinox, GMC Hummer, Cadillac Lyriq, and sedan Cadillac Celestiq, actively expanding their electric vehicle lineup.

By 2023, GM plans to equip 22 vehicle models with the autonomous driving feature Super Cruise. They aim to achieve economies of scale to reduce costs and expand ride-sharing and delivery networks.

Researcher Song emphasized, "GM is preparing for the future car market in various ways," adding, "They are developing the electric vehicle and battery platform Ultium and the software platform Ultifi to improve the efficiency of electric vehicle production and operation, and are preparing for battery internalization." They are also developing hydrogen fuel cells in collaboration with external partners and plan to expand into other businesses such as aerospace based on the Ultium battery.

GM's stock price has risen 46% over the past year. Researcher Song said, "An increase in market share is expected due to the expansion of the electric vehicle lineup and production capacity," adding, "Positive momentum is expected to continue as production efficiency improves through battery and software internalization and vertical integration."

This content was produced with the assistance of AI translation services.