The new Chevrolet Silverado 1500 2019 makes its official debut at the North American International Auto Show on January 13, 2018 in Detroit, Michigan.
Bill Pugliano | Getty Images
DETROIT – General Motors’ shares reached a new record during intraday trading on Tuesday after the automaker confirmed plans to produce a fully electric Chevrolet Silverado pickup truck at an EV assembly plant under construction in Detroit.
GM shares rose as much as 3.9% to $ 63.44 per share on Tuesday – beating the automaker’s previous intraday high of $ 62.24 that was reached last month. These are the highest GM shares traded since the automaker came out of bankruptcy in 2009.
The company’s shares were trading at around $ 62.20 on Tuesday afternoon, up about 2%. The stock has risen about 50% so far this year. GM’s market capitalization is around $ 90 billion.
The performance of GM’s shares this year was driven by a constant series of announcements related to electric vehicles. It is also validating comments made last month by GM CEO Mary Barra about the future potential of the shares.
“I think as the market starts to see all the assets and resources that General Motors brings to this transformation, I think we are just at the beginning of where you will see GM’s shares move,” she said during an online discussion. on March 11 with the Women in Business event at The Economic Club of New York.
The electric Silverado is part of a $ 2.2 billion investment previously announced at the factory to produce a series of its next generation EVs starting later this year with a fully electric GMC Hummer pickup. Other vehicles planned for the installation include the recently unveiled Hummer EV SUV and a multi-passenger autonomous bus known as Cruise Origin.
The 2024 GMC Hummer EV SUV and the 2022 GMC Hummer EV SUV or SUT.
GM
The confirmation of the Silverado EV came days after the automaker unveiled a new SUV version of its upcoming GMC Hummer EV.
Earlier this year, the company also announced a new all-electric commercial vehicle division called BrightDrop. It also announced plans to offer electric vehicles exclusively by 2035.
The new vehicles are part of GM’s plan to launch 30 new EVs globally by 2025, with an investment of $ 27 billion in electric and autonomous vehicles during that period. Until then, the company plans to sell at least 1 million EVs annually.