General Motors becomes the first U.S. corporation to make over US$1 billion in a year.
General Motors Company (GM) is an American multinational automotive manufacturing corporation headquartered in Detroit, Michigan, United States. The company is the largest automobile manufacturer based in the United States and one of the largest worldwide. It was the largest automaker worldwide for 77 consecutive years, from 1931 when it overtook Ford Motor Company, until 2008, when it was overtaken by Toyota.General Motors is ranked 22nd on the Fortune 500 rankings of the largest United States corporations by total revenue.The company has manufacturing plants in 8 countries. Its four core automobile brands are Chevrolet, Buick, GMC, and Cadillac. It also holds interests in Chinese brands Wuling Motors and Baojun as well as DMAX via joint ventures. BrightDrop is the company's delivery-focused service. GM Defense serves military vehicles. OnStar provides vehicle safety, security and information services. ACDelco is the company's auto parts division. The company provides financing via GM Financial. The company is developing self-driving cars through its majority ownership in Cruise LLC.
GM intends to end production and sales of vehicles using internal combustion engines, including hybrid vehicles and plug-in hybrids, by 2035 as part of its plan to achieve carbon neutrality by 2040. GM offers more flexible-fuel vehicles, which can operate on either E85 ethanol fuel or gasoline, or any blend of both, than any other automaker.The company traces itself to a holding company for Buick established on September 16, 1908, by William C. Durant, the largest seller of horse-drawn vehicles at the time. The current entity was established in 2009 after the General Motors Chapter 11 reorganization.