Meanwhile, electric vehicle startup Lordstown Motors recently began publicly trading on the NASDAQ as “RIDE.” This could seem favorable to investors, as GM previously announced it would invest $75 million into the EV startup, including $25 million in cash, and $50 million in production plant assets permits.
Other recent developments that may be influencing the value of GM stock include GM appointing Paul Jacobson to the role of CFO and executive Vice President. Additionally, General Motors Ventures‘ new interest in Envisics, a U.K.-based startup developing augmented reality (AR) technology for automotive applications. GM believes the tech may find a place in the automaker’s upcoming all-electric vehicles, such as the Cadillac Lyriq. On a somewhat related note, The General and its autonomous driving subsidiary, Cruise, will soon apply for an exemption that will allow it to begin testing vehicles without a steering wheel or pedals on public roads in the United States.