Consumer Discretionary · S&P 500
General Motors
The largest U.S. automaker, owning Chevrolet, Cadillac and GMC, in a phase where the cost and pace of electrification drive earnings (S&P 500). 84% of FY2025 revenue of ~$185B is in North America, and it took $7.9B of EV-capacity realignment charges, exposing the transition's interim burden. In autonomy, it wound down the Cruise robotaxi at end-2024 and absorbed it into personal autonomy (Super Cruise). In graph terms it is an ordering hub of the EV supply chain, spending rippling to LG (Ultium Cells, LG Magna, LG Chem cathode) and Samsung SDI batteries and NVIDIA, Qualcomm and GlobalFoundries chips.
GM Updated Jul 12, 2026 5 AI consumers· 2 recurring
Per the valuechain.wiki graph, General Motors is directly linked to 8 companies (7 supply, 0 revenue, 1 investment relationships) and reaches 53 companies within two hops; the links are backed by 15 dated sources, 3 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · ~$185.0B (FY2025, -1.3%; EV-realignment impact -$7.9B)
- Customer concentration · A transition interim after the EV tax-credit lapse — North American pickups/SUVs generate cash but Q4 EV sales fell 43%, with $7.1B of Q4 charges for EV restructuring and the China JV. Only GM Financial grew (+7.5%). The Cruise robotaxi was wound down at end-2024 ($10B+ absorbed).
- Segments · GM North America (GMNA) · GM International (GMI) · GM Financial · Cruise (wound down)
Revenue from
- North American dealers & consumers (GMNA: pickups, SUVs) High confidence· Amount $154.3B · FY2025 GMNA 매출
The North American wholesale revenue that is the profit backbone — FY2025 GMNA revenue was $154.3B (83% of the group), wholesaling Chevrolet, GMC, Cadillac and Buick to dealers and the U.S. government. High-margin full-size pickups and SUVs generate the cash, but EV sales fell sharply after the tax-credit lapse (Q4 -43%), exposing the transition's interim burden.Mentions EN Morgan Stanley (via Investing.com) Published Feb 10, 2026: Morgan Stanley upgrades GM to Overweight, target $90 — 'EV winter' favors legacy automakers - GM Financial (dealer & consumer financing) High confidence· Amount $17.1B · FY2025 GM 파이낸셜 매출
The only growing segment — FY2025 GM Financial revenue was $17.06B (+7.5%); vehicle installment and lease financing supports vehicle sales and is a stable earnings source offsetting the automotive decline. - International dealers & consumers (GMI) High confidence· Amount $13.4B · FY2025 GMI 매출
International revenue outside the China SAIC JV — FY2025 GMI revenue was $13.4B (7% of the group). China's price war and NEV competition weigh on growth, and the export/local-production mix drives results.
Pays to
- LG화학 (양극재) High confidence· contract ₩24.7T · 양극재 매입
₩24.75T long-term EV cathode supply contract with LG Chem (Feb 2024–Dec 2035). - Samsung SDI High confidence· Amount $3.5B · JV 투자
Battery-cell JV in New Carlisle, Indiana (~$3.5B; 27GWh initial to 36GWh; NCA prismatic; 2027 mass production). - LG Electronics High confidence
Sources EV drive motors and inverters from LG Magna's (LG 51% JV) Mexico plant for its next-gen EV platform.Confirms KO Maeil Industry News Published Aug 1, 2024: LG earnings call: LG Magna Mexico ramp, GM supply - LG Energy Solution High confidence
Battery cells via the Ultium Cells JV: Warren, Spring Hill ($2.3B, pivoting to LFP) and Lansing ($2.6B; GM agreed to sell its stake to LGES).Confirms EN LG Energy Solution Published Jan 26, 2022: GM and LG Energy Solution Investing $2.6 Billion to Build 3rd Ultium Cells Plant in Lansing - NVIDIA High confidence
Adopts NVIDIA DRIVE AGX (Blackwell, up to 1,000 TOPS) for ADAS/AV and Omniverse/Cosmos for factory AI (GTC 2025); no dollar figure disclosed.Confirms EN NVIDIA IR Published Mar 18, 2025: GM and NVIDIA collaborate on AI for vehicles and manufacturing - GlobalFoundries High confidence
Long-term direct supply agreement (2023) with a dedicated, exclusive capacity corridor for GM chips at GF's Malta, NY fab.Confirms EN GlobeNewswire (GF) Published Feb 9, 2023: GlobalFoundries and GM announce long-term direct supply agreement - Qualcomm Medium confidence
Snapdragon cockpit, telematics and Snapdragon Ride (Ultra Cruise) chips (relationship extended 2021).Confirms EN Green Car Congress Published Jan 27, 2021: GM and Qualcomm extend digital cockpit and ADAS relationship
Investments
- 상하이자동차 (SAIC-GM 합작) High confidence
Runs its China business via a 50:50 JV with SAIC (SAIC-GM).Confirms EN Gasgoo Published Jan 15, 2026: SAIC Motor's 2025 sales surpass 4.5 million, driven by self-owned brands and NEVs
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| General Motors | node | +40.8 | -42.4 | +7.9 | +49.8 | +54.2 | -3.8 |
| GlobalFoundries | benef1 | · | -17.1 | +12.5 | -29.2 | -18.6 | +97.8 |
| LG Electronics | benef1 | -16.2 | -20.9 | -5.8 | -9.5 | +19.2 | +85.5 |
| NVIDIA | benef1 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +13.3 |
| Samsung SDI | benef1 | -19 | +15.8 | -45.7 | -40.2 | +75.7 | +11.3 |
| SAIC Motor | benef1 | -12.1 | -16.2 | -6.8 | +29.1 | -17.2 | -28.4 |
| Kioxia | benef2 | · | · | · | · | +1082.1 | +260.5 |
| Micron Technology | benef2 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +243.3 |
| Murata Manufacturing | benef2 | -14 | -11.7 | +24.7 | -16.5 | +29.9 | +217.4 |
| Nan Ya PCB | benef2 | +110.6 | -46.7 | -0.5 | -38.3 | +188.2 | +213.4 |
| LG Innotek | benef2 | +78.2 | -22 | -28.8 | -22.1 | +66.8 | +204.6 |
| ASE Technology | benef2 | +38.3 | -12.8 | +60.9 | +10.1 | +65.6 | +167.6 |
| Nebius Group | benef2 | · | · | · | · | +202.2 | +162.4 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +148.2 |
| Ibiden | benef2 | +30.4 | -19.6 | +51.6 | -38.6 | +261 | +147.1 |
| SK hynix | benef2 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +140.3 |
| Unimicron | benef2 | +133.5 | -30.2 | +35.2 | -19.7 | +175.7 | +131.6 |
| MediaTek | benef2 | +27.8 | -26.6 | +52.9 | +58.3 | +24.9 | +124.3 |
| Lumentum | benef2 | +11.6 | -50.7 | +0.5 | +60.1 | +339.1 | +117.6 |
| LS ELECTRIC | benef2 | -19.2 | +11.4 | +37.4 | +234.2 | +145 | +79.6 |
| onsemi | benef2 | +107.5 | -8.2 | +33.9 | -24.5 | -14.1 | +77.2 |
| Coherent | benef2 | -10 | -48.6 | +24 | +117.6 | +94.8 | +75.8 |
| Eoptolink | benef2 | -10.1 | -27.7 | +136.6 | +197 | +368.8 | +74.9 |
| InnoLight | benef2 | -30.7 | -18.3 | +253.7 | +12 | +468.1 | +68.8 |
| Keysight Technologies | benef2 | +56.3 | -17.2 | -7 | +1 | +26.5 | +58.5 |
| Delta Electronics | benef2 | -3.4 | +10.4 | -0.3 | +59.2 | +183.8 | +54.9 |
| Monolithic Power | benef2 | +35.5 | -27.8 | +79.8 | -5.6 | +54.5 | +49.8 |
| Analog Devices | benef2 | +21 | -4.9 | +23.4 | +8.8 | +29.8 | +46.7 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +27.2 |
| Asahi Kasei | benef2 | -1.1 | -9.3 | +18.7 | -2.9 | +47.1 | +24.6 |
| Pegatron | benef2 | -5.9 | +0.6 | +35.3 | +21.2 | -23.8 | +24 |
| Luxshare Precision | benef2 | -11.9 | -30.2 | -21.2 | +58.8 | +29.3 | +20.6 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +18.2 |
| Amphenol | benef2 | +34.9 | -12 | +31.5 | +41.3 | +96.1 | +18.1 |
| Wistron | benef2 | +7.9 | +9.7 | +272.7 | -1.6 | +22.7 | +14.8 |
| Qualcomm | benef2 | +22.3 | -38.6 | +35.1 | +8.3 | +13.8 | +11.7 |
| Umicore | benef2 | -27.5 | +5.9 | -37.1 | -51.4 | +111.6 | +2.4 |
| CATL | benef2 | +67.4 | -21.4 | -40.6 | +74.5 | +39.4 | +1.2 |
| BlackRock | benef2 | +29.4 | -20.4 | +17.9 | +29.3 | +6.6 | -2.1 |
| LG Display | benef2 | -6.8 | -30.9 | -8.5 | -20.6 | +26.2 | -5.7 |
| Lotte Energy Materials | benef2 | +31.5 | -32.9 | -49.3 | -30 | +75.8 | -8.4 |
| POSCO Holdings | benef2 | +13.9 | +19.9 | +43 | -37.3 | +38.3 | -8.8 |
| TE Connectivity | benef2 | +35.1 | -27.7 | +24.6 | +3.5 | +61.1 | -11.3 |
| Recursion Pharmaceuticals | benef2 | · | -55 | +27.9 | -31.4 | -39.5 | -13 |
| LG Chem | benef2 | -29 | +9.7 | -36.6 | -45.3 | +31.2 | -14.4 |
| SKC | benef2 | +18.1 | -31.9 | -19.7 | +104.3 | -25.4 | -19.2 |
| L&F | benef2 | +139.2 | +22.4 | -30.3 | -38.6 | +43.4 | -20.4 |
| Advanced Nano Products | benef2 | +56.8 | +66.4 | +13.9 | -30.9 | +5.5 | -32.8 |
| BYD Electronics | benef2 | -56.1 | +16 | -0.4 | +60.6 | -19.4 | -34.4 |
| Chunbo | benef2 | +40.4 | -7.3 | -65 | -55.6 | +59.1 | -37.6 |
| PNT (People & Technology) | benef2 | +62.2 | +11.6 | -17.8 | +12.2 | +31.1 | -39.8 |
| EcoPro BM | benef2 | +79.2 | +23.9 | +113.5 | -38.6 | +77.1 | -47.6 |
YTD as of 2026-07-10 · source: Yahoo Finance
The largest U.S. automaker, in a phase where the cost and pace of electrification decide results. The thesis is the interim burden — North American ICE and pickups (84% of revenue) generate cash, but it took $7.9B of EV-capacity realignment charges in 2025 and is re-tuning EV strategy, including selling part of its Ultium stake to LGES. In graph terms GM's EV orders ripple to LG (cells, drive units, cathode) and Samsung SDI batteries and NVIDIA, Qualcomm and GF chips, a classic ordering hub where suppliers move before the stock. Autonomy risk was cut by winding down Cruise into Super Cruise.
Analysis generated from returns as of 2026-07-10