MarketsApr 7, 2021
General Motors makes big steps towards an electric future — and investors are loving it
Corporate Reinvention
Victor Lei
Discover
In the pickup truck triopoly — 3 companies (GM, Ford and Stellantis) control 94% of the market.
Upstarts like Rivian, Tesla’s Cybertruck and Lordstown Motors are trying to break the market but General Motors isn’t about to let that happen.
On Apr. 6, GM made an announcement to build its electric Silverado pickup model in its Detroit plant — another push towards going electric in what has already been a killer year for GM’s stock.
The century-old carmaker went through it all — reinventing the carriage, going through a 2009 bankruptcy and now, navigating its way through an electric future. Since the start of 2020, GM made big announcements towards a focus on going electric:
In 2021, GM’s stock is up 46% — ahead of other EV carmakers. But GM’s ambitions go beyond trucks and even cars…
In 2014, Barra was brought in to turn around the once struggling GM (the turnaround was a success). One of her tasks was positioning GM for the future — with investments in innovative projects and startups:
Before 2009, Dominos was once just another pizza chain with a mediocre tasting pizza and poorly performing stock. Between 2009-2012, Dominos reinvented their pizza recipe, focused on digital ordering and utilized digital channels to connect with customers — its stock surged over 20x in the past 10 years.
Sound familiar? GM is changing the narrative with a focus on going electric:
The best performers aren’t always found in the companies building innovation — but also in the companies using technology to reinvent themselves
Learn more: Another carmaker is moving towards EV — and just like GM, its stock is on the rise
