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Wall Street is finally rewarding GM's electric-vehicle surge - but Tesla has nothing to worry about

Wall Street is finally rewarding GM's electric-vehicle surge - but Tesla has nothing to worry about

GM CEO Mary Barra presented GM's electric strategy in early 2020.
GM




GM captivated a virtual CES last week with an ambitious rollout of its $27-billion EV business and the debut of delivery service.




The automaker's stock surged to its highest levels in a decade.




GM has 30 electrified vehicle slates to launch by 2025, but Tesla in just over a year has become the most valuable automaker in the world.




One might assume the two companies are on a competitive collision course, but they aren't.




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It's been an incredibly long time coming. A decade after returning to the markets following a government bailout and bankruptcy, General Motors' stock price is finally on the move. An impressive presentation from CEO Mary Barra at CES last week, along with the unveiling of an entirely new delivery business, dubbed "BrightDrop," pushed shares above $50, their highest level since 2010. Not incidentally, GM also debuted a new corporate identity, with the famous capital G and M replaced by lowercase letters on a more environmentally conscious blue-green background.Say hello to the real "New GM."The automaking giant, number one in the US by sales, is investing $27 billion to launch 30 electrified vehicles by 2025. Some we already know about, such as the Chevy Bolt EV, forthcoming Hummer EV pickup truck, Cadillac Lyriq SUV. But the strategy means that in just three years, much of GM's vast portfolio won't be powered by internal-combustion engines anymore.
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