Overview

• General Motors (GM) reported strong Q4 earnings, beating Wall Street's expectations, despite a tough market in the EV sector and a six-week autoworkers' strike.
• GM's CEO Mary Barra confirmed that the majority of the company's capital spend is on EVs, and expects EVs to account for 10% of all auto sales in 2024.
• Barra addressed concerns about competition from Chinese automakers, advocating for a 'level playing field' without specifying a policy.
• GM is considering reintroducing plug-in hybrid models to its lineup as part of its strategy to meet environmental goals and consumer demand.
• Despite challenges, including a $2.7 billion loss from its self-driving technology division, Cruise, GM remains optimistic about its financial trajectory in 2024.