5 Next Generation Battery Technology Companies

2. General Motors Company

Revenue as of 2021: $127 billion

General Motors Company is a multinational automotive corporation that is based in Michigan, USA. It was founded in 1908 and is one of the largest automobile manufacturers in the world, with a diverse range of brands, including Chevrolet, Buick, Cadillac, and GMC. General Motors Company produces a wide range of vehicles, including cars, trucks, and SUVs, and has a strong focus on electric vehicles.

The company has committed to investing $35 billion in EV and autonomous vehicle development by 2025. This includes a $650 million investment in a US lithium mine in order to secure raw materials used in EV batteries, which also helps cut costs as president Biden’s recent Inflation Reduction Act gives tax credits to companies sourcing raw materials from within the United States. GM has launched a joint venture with LG, Ultium Cells, that has one battery plant in Ohio with a battery capacity above 35 GWh and is building on two other battery plants in the United States. It expects to have a 130 GWh battery cell capacity once all three plants are operational, while a fourth plant is also being planned.

The increase in the demand for cars and their prices has helped General Motors Company to exceed earning expectations from analysts. This increase in prices has also led experts to forecast a revenue of $195.2 billion for the company in 2023 and a revenue of $211.6 billion in 2024. General Motors Company ranked 22nd on Forbes’ Fortune 500 list in 2021.