DETROIT, Oct 26 (Reuters) – General Motors Co’s (GM.N) electric commercial vehicle enterprise, BrightDrop, will build out a dedicated dealer network to drive development, the unit’s head stated on Tuesday.
While Travis Katz, BrightDrop’s chief government, didn’t disclose what number of sellers can be within the network, he stated it will likely be smaller than GM’s retail network and targeted in city markets. The areas can be tailor-made to serve fleet clients similar to FedEx (FDX.N) and Verizon (VZ.N), which GM provides autos to by contract.
“The plan is we’re setting up our own BrightDrop-specific dealership network,” Katz informed the Automotive Press Association in Detroit, including that BrightDrop is speaking to current GM sellers however might use others as nicely.
BrightDrop is a key development marketplace for GM, which has stated it plans to double income by 2030. learn extra
The No. 1 U.S. automaker sees international e-commerce income hitting $4 trillion in 2023 and rising to $7.4 trillion in 2029. GM executives have stated they anticipate BrightDrop’s income to high $10 billion by 2030 with low-20% revenue margins. learn extra
Asked if GM will spin off BrightDrop or search outdoors buyers for the enterprise because it did for its Cruise autonomous-driving unit, Katz stated there have been no such present plans and GM doesn’t want exterior capital to build the enterprise.
“Right now, the company is structured as a wholly owned entity and that’s how we’re running it,” he stated.
BrightDrop is scheduled to start promoting its first vehicle, the EV600 van, this fall, adopted by the smaller EV410 vehicle in 2023. learn extra