General Motors Company, is an American multinational corporation headquartered in Detroit that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services.
Founded originally by William C. Durant on September 16, 1908, Now the company holds the tag of largest American automobile manufacturer in the world.
It was in the year 2019, General Motors was ranked at number 10 on the Fortune 500 rankings of the largest United States corporations by total revenue.
The company manufactures vehicles in 37 countries and it’s core automobile brands include well known giants like Chevrolet, Buick, GMC, and Cadillac.
Also the company either owns or holds a significant stake in many foreign automotive brands such as Holden, Wuling, Baojun, and Jiefang.
According too the reports, the annual worldwide sales volume for the company reached a milestone of 10 million vehicles in 2016 which is quite a remarkable task.
Now coming to the latest news from the company due to which the company is in the lime-light, the company is most probable to expand the lineup of vehicles with it’s large truck and sport utility vehicle architecture and sees big opportunities in the near future.
As per the information from secret sources, GM controls about 70% of the large sport utility market in North America with six models, and it will unveiled the redesigned Chevrolet Tahoe and Suburban, whose profits will help fund development of electric vehicles that the automaker promises for the future.
GM’s big SUVs will be powered by eight cylinder gasoline engines or six cylinder diesel motors. The vehicle have a new digital electronic architecture that enables over-the-air software updates and new revenue opportunities, the officials told in the latest interview.
As the industry is moving exponentially toward the future i.e. electric vehicles, profits from large SUVs will help pay for investments.
These plans include GM’s plans to build a new battery plant and offer an electric pick-up truck.
The new SUVs are assembled at a complex in Arlington, Texas, a state where many of them will be sold.
GM has invested $1.4 billion (£1.09 billion) to expand the Arlington operation, and that gives the company the option to manufacture additional models, Reuss said.