GM Files IPO, Announces Future Product Plans
Today, General Motors filed its plans with the Securities and Exchange Commission to go public. The initial public offering of stock will be approved by the government agency with a future date set. Prices and the amount of shares will also be decided at a later date, as well as how much of the company’s stake will be sold off by the federal government.
What the filing includes for car buyers and enthusiasts is a brief glimpse at the company’s ambitious plans for new products over the next three to four years. The documents filed with the SEC state that GM will release 19 new vehicles in North America between 2010 and 2012 among its four brands: Buick, Chevy, GMC and Cadillac. This number likely includes new 2011 models already arriving at dealers, such as the Cadillac CTS coupe and the high-powered CTS-V coupe and, of course, the upcoming Chevy Volt.
The document goes on to say that between 2013 and 2014, an additional 27 new vehicles will be launched. That number seems high, but it could reference multiple versions of one vehicle — like a new Chevy Malibu and a hybrid version, for example — as two different models. The company confirms the near-term launches of a new Chevy Aveo, Chevy Spark, redesigned Malibu and new Buick compact and mid-size vehicles.
On the hybrid front, GM confirmed that it would launch a plug-in hybrid vehicle using its current two-mode hybrid system in vehicles like the Chevy Tahoe Hybrid. It will travel at low speeds on all-electric power and then operate on the hybrid powertrain at high speeds like the Toyota Prius. What brand that model would be sold under was not announced.