Founded in 1908, General Motors Company (GM) is a multinational corporation based in Detroit, Michigan. Over the years, GM has established itself as a key player within the global automotive industry, encompassing iconic car brands such as Chevrolet, Buick, GMC, and Cadillac.
GM’s vehicle innovations coupled with a strong global presence have allowed it to claim a significant market share. The company manufactures cars and trucks in 30 countries and its vehicles are sold in approximately 200 nations worldwide.
GM's journey has had its fair share of twists and turns. When the global financial crisis hit in 2008, GM had to file for bankruptcy. However, it successfully restructured its operations and repaid its government loans ahead of schedule, resurging as a more streamlined and profitable company.
While historically GM has been a manufacturer of traditional gasoline-powered vehicles, in recent years the company has made strategic moves to develop electric vehicles and autonomous technology, demonstrating a commitment to the future of mobility. It unveiled its all-electric Hummer model and has made a commitment that 40% of its U.S models will be battery-electric vehicles by the end of 2025.
GM's innovation extends beyond standard passenger vehicles. The company spearheads development and production of self-driving cars through its subsidiary, Cruise LLC. GM also designs and builds engines and transmissions, and sells parts for its own vehicles and other automakers.
GM takes corporate social responsibility seriously and has made significant strides integrating sustainable business practices into their operations. In 2020, GM announced its ambition to become carbon neutral by 2040 and aims to eliminate tailpipe emissions from new light-duty vehicles by 2035.
GM has played a significant role in shaping the automotive industry and continues to influence its future. The company’s commitment to advanced technologies, sustainability, and innovative business practices highlights its ongoing contribution to the global motor industry.
In the financial year 2020, GM reported a net revenue of nearly $122 billion and employed about 155,000 people. Despite the global challenges introduced by the COVID-19 pandemic, GM continues to evolve and adapt to maintain its status as a leading player in the automotive industry. Whether it’s reaching milestones in electric vehicle development or expanding into new markets, GM continues to drive forward in its pursuit of progress.