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August 4 , 2021 Dear Shareholders : At General Motors , we have been on a journey for several years to reinvent mobility to create a greener and safer world for all - while growing the company and creating shareholder value . Halfway through 2021 , I'm pleased to report we're accelerating our progress and advancing our vision of a world with zero crashes , zero emissions and zero congestion . Our strategy , investments and results are increasingly setting us apart , including : O O O Generating consistently strong earnings , including record EBIT - adjusted of $ 4.1 billion in the second quarter , and $ 8.5 billion in the first half . Accelerating our engineering and capital investments in electric vehicles ( EVS ) and self driving technology ( AVs ) by $ 8 billion to $ 35 billion from 2020-2025 . Developing a full EV portfolio that doesn't depend on partial solutions like hybrids and " electrified " ICE vehicles . Instead , we've focused our investment on achieving the end solution of zero emissions more quickly . Creatively managing the complex and fluid global semiconductor shortage , while prioritizing our highest - demand , capacity - constrained products , and developing sustainable , long - term supply chain solutions . With our engineering and capital investments , we are executing the industry's most comprehensive and fully integrated EV and AV strategy , underpinned by the Ultium Platform , along with revenue growth opportunities like connected services , HYDROTEC and Super Cruise . The credit for our strong first half goes to our employees and extended team , including suppliers and dealers , who have collectively demonstrated strength , agility and resilience . There will be challenges , but we now expect full - year EBIT - adjusted in the range of $ 11.5 billion to $ 13.5 billion , compared with $ 10 billion to $ 11 billion previously . We're excited about launching our first Ultium - based vehicles this fall - the GMC HUMMER EV Pickup , and the BrightDrop EV600 electric commercial vehicle . They will be followed in early 2022 by the all electric Cadillac LYRIQ SUV , and Cadillac is announcing today that it will begin taking LYRIQ reservations on Sept. 18. We have also confirmed that both Chevrolet and GMC will offer battery electric full - size pickups based on Ultium . These are just some of the more than 30 EV models we are launching in North America and China by 2025. The investments we announced make it clear that our EV goals , which include selling more than 1 million EVs globally by 2025 , and earning EV market leadership in North America , are just the start . The pull - ahead of $ 8 billion in investment means we will be in an even stronger position to delight customers with EVs that are better for the environment . Not only will our EVs be fun to drive and cost less to own , we will provide an outstanding customer experience . This is how we will encourage and inspire mass consumer adoption of EVs . GM has the technology , talent , scale and manufacturing expertise to do it . general motors 313.556.5000 / 300 Renaissance Center / Detroit , MI 48265 / www.gm.com gm