GM shares jump on plans for electric delivery vehicle business

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GM shares jump on plans for electric delivery vehicle business
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Delivery vehicles is the one sector that EV sales leader Tesla has yet to crack

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The new BrightDrop delivery business will put GM squarely in competition in the commercial sector with cross-town rival Ford Motor Co, as well as startups such as Rivian, Arrival and Canoo that are developing electric commercial vehicles for customers ranging from Amazon to Hyundai Motor.

Barra said BrightDrop will offer delivery and logistics customers such as FedEx a range of products and services that leverage the automaker’s expertise in electrification and fleet management.

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