Thank the just-announced Silverado EV.
Wall Street responded in kind hours after General Motors announced plans to launch an all-electric version of the long-popular and long-running Chevrolet Silverado full-size truck. The automaker s stock was up by 1.5 percent at the end of the trading day Tuesday, closing at $61.94 a share. That s a new closing record. Earlier in the day, the stock reached an all-time high of $63.44, according to CNBC. Not bad for an automaker that emerged from bankruptcy just over a decade ago.
At present, America s biggest automaker is worth just over $89 billion. Of course, that s a fairly small figure compared to Tesla s $660 billion market cap. But Tuesday s announcement is still excellent news for GM going forward.
But is there any truth to them?
General Motors had a very good week. It unveiled the 2024 GMC Hummer EV SUV, of which the $105,000 Edition 1 trims sold out in less than an hour. Days later it announced an all-electric Chevy Silverado is on the way. Following that, GM s stock reached an all-time. America s biggest car company is now worth about $90 billion. There s genuinely a lot to be excited about, especially for an automaker that filed for bankruptcy in 2009. GM s commitment to an all-electric future means an entirely new lineup of EVs is coming, many of which will be built in the US.
The automaker plans to deliver more than 1 million electric vehicles globally by 2025.
Apr 7th, 2021
Industrial Media Staff
General Motors President Mark Reuss confirmed the recently revealed GMC Hummer EV SUV will be built at Factory ZERO.
GM
General Motors President Mark Reuss yesterday announced Chevrolet will introduce a Silverado electric pickup truck that will be built at the company’s Factory Zero assembly plant in Detroit and Hamtramck, Michigan. He also confirmed that the GMC Hummer EV SUV will be built at the factory as well.
GM hopes to deliver more than 1 million electric vehicles globally by 2025 and earn EV market leadership in North America. With the company’s Ultium Platform, virtual development tools and technology, GM has reduced vehicle development times by nearly 50 percent to just 26 months.
And it s coming with HUGE range.
General Motors first hinted at an electric pickup truck a few years ago, and we ve seen those plans come to fruition with the GMC Hummer EV Pickup. The Chevrolet Silverado will also spawn an electric variant, and GM just announced some juicy details about it. GM President Mark Reuss officially confirmed that the electric Silverado will be built at the company s Factory ZERO assembly plant in Detroit and Hamtramck, Michigan.
Formerly known as the Detroit-Hamtramck Assembly Center, Factory ZERO will also assemble other GM EVs like the GMC Hummer, Cruise Origin robotaxi, and more. Along with the announcement of where the electric truck will be assembled, Chevy showed off an unrevealing teaser image with a Silverado badge.
This version of the Silverado will be “designed from the ground up” to be an electric vehicle. The automaker said it estimates the truck’s range to be more than 400 miles (644 km) on a full charge, and that a variety of options will be offered for retail and fleet customers.
General Motors said it plans to deliver more than 1 million electric vehicles worldwide by 2025, and using its “Ultium” EV platform and virtual development tools and technology, it has reduced vehicle development times by almost 50 per cent, to just 26 months.
A sign is unveiled at General Motors Detroit-Hamtramck Assembly Friday, October 16, 2020 – introducing a new name: Factory ZERO, Detroit-Hamtramck Assembly Center. The facility will be known as Factory ZERO, which reflects the significance of this assembly center advancing GM’s zero-crashes, zero-emissions and zero-congestion future. GM is investing $2.2 billion to make Factory ZERO its first fully dedicated electric vehicle assembly facilit