The new 2019 Chevrolet Silverado 1500 will make its official debut at the 2018 North American International Auto Show on January 13, 2018 in Detroit, Michigan.
Bill Pugliano | Getty Images
DETROIT – Shares of General Motors closed on a new record Tuesday after the automaker confirmed plans to produce an all-electric Chevrolet Silverado pickup at an EV assembly plant under construction in Detroit.
The automaker’s stock closed 1.5% up at $ 61.94 a share, setting a new closing record, hitting an intraday high of $ 63.44 earlier Tuesday. Both closing and intraday prices have been record highs since the automaker came out of bankruptcy at the end of the Great Recession and started trading publicly again in 2010. GM’s market cap is $ 89.25 billion.
GM’s share performance this year, up about 50%, has been driven by a steady string of announcements regarding electric vehicles. It also confirms comments made last month by GM CEO Mary Barra regarding the stock’s future potential.
“I think as the market starts to see all the assets and resources that General Motors is bringing in for this transformation, I think we’re just at the beginning of where you’re going to see GM’s stock move,” she said in an online discussion at 11. March. at The Economic Club of New York Women in Business event.
The electric Silverado is part of a previously announced $ 2.2 billion investment at the factory to produce a range of its next-generation EVs, starting later this year with a fully electric GMC Hummer pickup. Other vehicles planned for the facility include the recently unveiled Hummer EV SUV and an autonomous multi-passenger shuttle known as the Cruise Origin.
The 2024 GMC Hummer EV SUV and 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 utility vehicle division called BrightDrop. It also announced plans to offer exclusively electric vehicles by 2035.
The new vehicles are part of GM’s plan to bring 30 new EVs to market worldwide by 2025, with an investment of $ 27 billion in electric and autonomous vehicles during that time. The company plans to sell at least 1 million electric vehicles per year by then.