The new 2019 Chevrolet Silverado 1500 makes its official debut at the 2018 North American International Motor Show on January 13, 2018 in Detroit, Michigan.
Bill Pugliano | Getty Images
DETROIT – Shares of General Motors reached a new record during intraday trading on Tuesday after the automaker planned to produce a fully electric Chevrolet Silverado pickup truck at a Detroit motor vehicle assembly plant.
GM’s share rose 3.9% on Tuesday to $ 63.44 per share – above the previous intraday high of $ 62.24 reached last month. This is the highest GM shares traded since the carmaker emerged bankrupt in 2009.
The company’s shares traded about $ 62.20 as of Tuesday afternoon, up about 2%. The share has risen by about 50% so far this year. GM’s market value is about $ 90 billion.
The performance of GM’s inventory this year is driven by a steady series of announcements regarding electric vehicles. It also confirms the comments made by GM CEO Mary Barra last month about the future potential of the stock.
“I think if the market sees all the assets and resources that General Motors is bringing to this transformation, I think we’re just at the beginning where GM’s shares will see moving,” she said during an online discussion on March 11th. with the Economic Club of the Women in Business event in New York.
The Silverado electric is part of a previously announced $ 2.2 billion investment in the plant to produce a range of its next-generation EVs that will launch a fully electric GMC Hummer pickup later this year. Other planned vehicles for the plant include the recently unveiled Hummer EV sport utility vehicle and an autonomous multi-passenger shuttle known as the Cruise Origin.
The 2024 GMC Hummer EV SUV and 2022 GMC Hummer EV sportnuts, 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 trading division called BrightDrop. It also announced plans to offer exclusively electric vehicles by 2035.
The new vehicles are part of GM’s plan to release 30 new EVs worldwide by 2025 under a $ 27 billion investment in electric and autonomous vehicles during the period. By that time, the company plans to sell at least 1 million EVs annually.