| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
General Motors Company (NYSE:GM) shares are trading marginally lower on Thursday.
Yesterday, the company announced it would start manufacturing its first hybrid-flex vehicles in Brazil. These vehicles can run on 100% ethanol or gasoline, reported Reuters.
According to Benzinga Pro, GM stock has gained over 45% in the past year. Investors can gain exposure to the stock via First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) and Invesco S&P 500 Pure Value ETF(NYSE:RPV).
Stellantis and Honda have also revealed plans to introduce hybrid-flex vehicles in Brazil, a key market for ethanol-powered cars.
General Motors announced that it will produce two hybrid-flex models at its factories in São Paulo state, though it did not specify which models these will be, per the report.
Also Read: GM-LG Ultium Cells JV Agrees To Union Recognition At Tennessee Battery Plant, Says UAW
While the company currently manufactures various hybrid vehicles, it has stated its commitment to transitioning to fully electric cars in the long term.
General Motors did not disclose the launch date for the hybrid-flex vehicles, but a local union at its São José dos Campos plant indicated that the first model is expected to be available in 2025, the report noted.
The anticipated production and sale of hybrid-flex vehicles in Brazil is a key component of the company’s 7 billion real ($1.42 billion) investment plan announced in January, Reuters added.
Yesterday, the company revealed that 5.5 billion reais of this investment will be directed toward its operations in São Paulo state, where it operates two car factories.
According to data from Fenabrave, General Motors is the third-largest automaker in Brazil by sales for the year through August, which Reuters highlighted.
Price Action: GM shares are trading lower by 0.37% to $48.27 premarket at last check Thursday.
Image via shutterstock
Read More:
