Day: April 3, 2021

Why General Motors Stock Climbed Higher in March

What happened

Shares of General Motors (NYSE:GM) gained 11.9% in March, according to data provided by S&P Global Market Intelligence, as investors cheered the company’s continued push to transform itself into a leader in electric vehicles.

So what

General Motors has laid down the gauntlet in its battle against a generation of electric vehicle start-ups looking to turn the automotive industry on its head. The company has committed $27 billion to investments in electric vehicles through 2025, part of a plan to phase out gasoline- and diesel-powered cars and light trucks by 2035.

The 2022 GM electric Hummer.

Image source: General Motors.

GM early in the month said it was working with partners to establish a second U.S. battery facility to feed its growing appetite.

The stock also benefited from the efforts of another legacy automaker, Volkswagen (OTC:VWAGY), to establish its green credentials. Volkswagen during the month laid out

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