General Motors Co., the Detroit, Michigan-based second-largest passenger carmaker in the United States after Tesla Inc., had been brewing off an option to kickstart a production line of Chevrolet Silverado e-pickup truck at its Detroit-Hamtramck assembling factory as early as by late next year, a press agency report had unveiled late on Tuesday citing unnamed sources.
While the press agency report had quoted sources familiar with the subject-matter as saying that GM’s electric pickup vehicles were expected to be marketed by early 2023 as a 2024 model, NYSE-listed shares’ prices of General Motors Co.
jumped as much as 3.22 per cent to $62.43 in late-afternoon US trading hours after hitting a record $63.38 apiece in midday trading. Aside from that, latest GM move to roll out a production line of Chevrolet Silverado e-pickup trucks at its Michigan plant came forth months after GM Chief Mary Barra was quoted saying that the Detroit automaker was preparing to throw everything to catch up with market leader Tesla Inc.
On top of that, GM had recently unveiled a GMC Hummer electric SUV, which is also expected to be manufactured at the same factory.
GM to manufacture Silverado e-pickups in Detroit
Apart from that, while the latest move of Detroit automaker appears to be a part of its enhanced spending between a range of $9 to $10 billion this year, the company also pledged earlier in 2021 to fork out as many as $7 billion in R&D of electric and autonomous vehicles.
GM said last year that its electric Silverado would provide customers with a range of more than 400 miles after a full-charging session.