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Wall Street finally rewards GM's electric-vehicle surge - Business Insider

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Wall Street is finally rewarding GM's electric-vehicle surge — but Tesla has nothing to worry about

Meanwhile, Tesla's mega-epic 2020 rally has stretched into 2021. While GM closes in on a $70-billion market cap, Tesla has moved north of $800 billion. Globally, GM should have sold something like seven million vehicles in 2020, with 2.5 million of those in the US alone. Tesla sold about 500,000, total.

Tesla, on the other hand, doesn't have to worry about this problem. In 2020, it manufactured roughly 510,000 cars and sold almost all of them in the calendar year , with about 10,000 deliveries sliding into 2021. Tesla could follow a historic 2020 with a monumental 2021 by raising money, rolling out more vehicles, and expanding into China

If you take a dispassionate look at this state of affairs, GM's objectives and recent stock rally don't portend what one might think they do, namely competition. There is no competition in the EV world. Tesla stands alone as the main success story, and thus far established automakers have been entering the market rather cautiously, while various startups aren't yet selling vehicles.

 

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We are battling climate change and scaling down on oil and gas use so this is great news for the planet.

Yup, nothing at all...

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