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GM sets to double revenue, lead US in electric vehicle sales

General Motors is bringing back the Hummer brand, as a GMC electric pickup.
General Motors is bringing back the Hummer brand, as a GMC electric pickup.

General Motors plans to cash in as the world switches from combustion engines to battery power, promising to double its annual revenue by 2030.

To get there it plans an array of new electric vehicles, profitable gas-powered cars and trucks, and services such as an electronic driving system that can handle most tasks on the road.

In announcements Wednesday ahead of a two-day investor event in suburban Detroit, the company also pledged to unseat Tesla and become the electric vehicle market share leader in U.S., although no time frame was given.

GM teased upcoming new electric vehicles including a Chevrolet small SUV that will cost around $30,000, as well as electric trucks from Chevrolet and GMC.

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