GM CEO Mary Barra rang the NYSE opening bell from the factory floor the morning of the plant’s opening, and President Biden visited for a tour, driving the new Hummer. The first product rolling off the line is the 2022 GMC Hummer EV Pickup. It also stated that it is holding 25,000 reservations for the BrightDrop EV600 and EV410 all-electric commercial vans, along with 140,000 Chevy Silverado EV reservations and 70,000 GMC Hummer EV reservations. Additionally, GM has teased the new Chevy Corvette E-Ray hybrid, adding that a fully electric model will follow.īack in November of 2021, the automaker hosted the grand opening of its new GM Factory Zero production facility in Michigan, GM’s first dedicated all-electric vehicle assembly plant. GM has announced a fourth Ultium Cells battery plant and a third EV truck plant. GM is now shooting for EV production capacity greater than 1 million units. The investment is largest single investment in GM history, prompting responses from the White House, among other groups. General Motors continues to drive towards the mass adoption of all-electric vehicles, announcing a massive $7 billion investment for its Michigan-based production facilities, including $4 billion to convert the Orion Township plant for production of the new Chevy Silverado EV and Sierra EV, $2.5 billion for a third Ultium Cells battery plant, and a further $500 million to support production of the next-generation Chevy Traverse and Buick Enclave. Finally, GM debuted two important vehicles this week, including the 2024 Chevy Blazer EV and Cadillac Celestiq show car. GM CEO Mary Barra also stated GM is moving towards its own microchips, which are expected to launch by 2025, a move that could mitigate the effects of future chip shortages. GM stock value increased again this week after smaller gains realized last week and stable performance the week prior.įactors affecting GM stock value this week include a downgrade from German multinational investment bank Deutsche Bank, which dropped its stock rating from Buy to Hold.

By comparison, shares of GM’s crosstown rival, Ford Motor Company, were up 7.91 percent, increasing by $0.94 per share during the same timeframe.

Astro commander center