By Joseph White and Paul Lienert
DETROIT, Jan 28 (Reuters) – General Motors Co (GM.N) and Ford Motor Co (F.N) are expected to report next week they turned solid profits for the last quarter of 2021, but rarely has past performance mattered less to investors.
The two Detroit automakers are in mid-leap between a combustion-powered present, and a future they have promised will be defined by electric vehicles and software-powered services.
Both companies have mapped out multibillion-dollar investments in new North American electric vehicle and battery factories, aimed at challenging Tesla Inc (TSLA.O) and a flock of smaller EV startups in the still-tiny market. But those new factories will not be at full speed until the middle of this decade.