GM’s Big Electric Truck Deal click button

GM’s Big Electric Truck Deal

General Motors formally teamed up with Nikola Motors, inking a deal yesterday to help the electric-truck startup to develop and manufacture new electric truck models, in exchange for an 11% stake in Nikola Corp, The Wall Street Journal reported.  Both company’s stock prices jumped after the announcement showing that investors are still sweet on big […]

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Tesla Has Q1 Profit, Ford and Rivian Scrap Plans to Build EVs

Tesla Has Q1 Profit, Ford and Rivian Scrap Plans to Build EVs

CNBC reported yesterday that despite factory closures in China and the U.S., Tesla managed to eke out $16M in profit in the first quarter of the year, but it remains unclear how quickly its U.S. car plant and suppliers can ramp up production once it re-opens from Covid-19 restrictions

Why This Matters: The COVID pandemic is a setback for many industries — but particularly ones working to get off the ground like electric vehicle manufacturing.

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General Motors Announces Huge Investment In EV Plant in Michigan

General Motors Announces Huge Investment In EV Plant in Michigan

General Motors announced big plans to invest $2.2 Billion in a plant in Detroit in a plant that will build only electric vehicles including the company’s first all-electric pickup truck and the first of multiple electric truck models (reportedly including a Hummer) and an autonomous vehicle they will build the plant in the coming years.

Why This Matters:  They are not wasting any time — GM’s first all-electric pickup is expected to begin in late 2021.

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