General Motors has aggressively pursued alternative avenues outside of the traditional car-building and selling business. It’s launched Maven, acquired Cruise Automation and recently announced its commitment to an all-electric future.
Last week, it was enough to rally GM share prices to an all-time high—GM shares rose 3.1 percent. This week, they’ve leveled out, but remain at a solid state. CNBC reports the automaker’s stock price will likely stay at its current level before rallying again in the near future. Bank of America Merrill Lynch research analyst John Murphy also upgraded his rating on GM stock from “neutral” to “buy.”
“We think GM’s ability to integrate an autonomous electric vehicle into a ride-hailing fleet and/or shared fleet, with the overlay of OnStar, puts the company in a unique competitive first-mover position. We expect this will become more obvious as the technology is commercialized over time,” he wrote.
In the short run, GM will roll out two new electric cars in the next 18 months and plans to launch 20 new electric vehicles by 2023. The automaker most recently acquired Strobe Inc, a LIDAR developer, to bolster its self-driving car business.
Comments
This is why, gentlemen, nothing at GM will change in the favor of us car guys. As long as the boardroom and the stock holders are happy status quo will remain.
This is why, ladies, you sometimes need to send a woman in to do a man’s job
GM is playing things relatively smart and executing much better on Bolt than Tesla is on the Model 3
This is proof the plan may be working.
This is what it is all about. Building better cars, advancing and
Eating technology while making money.
While building only cool cars Is fun forgetting the core products is what sends you to bankruptcy.
Tesla nor making money for the share holders will have to be addressed sooner than later.
The Ford GT is a cool car but moved their $11 stock no where. The Edison program moved it $6 a share.
I think some forget you need to pay the bills and investors first then you can play building some less profitable models for marketing and image.