General Motors Co. (NYSE: GM) at its annual investors’ meeting in New York City significantly raised its 2022 financial results predictions. GM now projects full-year 2022 adjusted automotive free cash flow will increase to $10-11 billion from its previous guidance of $7-9 billion. GM now projects 2022 EBIT-adjusted for the full year will be in a range of $13.5-14.5 billion, compared to its previous guidance of $13-15 billion.

GM’s 2023-2025 Key Performance Indicators
• Total company revenue is expected to grow at a 12% compound annual rate through 2025, reaching more than $225 billion as EV volumes and software revenue grow. Revenue from EVs is expected to be more than $50 billion in 2025.
• GM expects to build 400,000 EVs in North America from 2022 through the first half of 2024 and increase capacity to 1 million units annually in North America in 2025.
• GM expects to reach U.S. battery cell capacity of more than 160 GWh and 1.2 million cells per day by mid-decade.
• GM is focused on reducing the cell costs for the next generation of its Ultium batteries to under $70/kWh by mid- to late-decade.
• Total capital spending is expected to be $11-13 billion per year through 2025, funded by ongoing healthy cash flows.
• GM expects to maintain its historical EBIT-adjusted margins of 8-10% in North America through this growth investment period.
• GM expects to earn low- to mid-single-digit EBIT-adjusted margins on its EV portfolio in 2025, before the positive impact of clean energy tax credits.