EV revenues, GM said, will grow from around $10 billion currently to around $90 billion by the end of the decade, with a further $80 billion in "new, incremental revenue" from "connected vehicles and other new businesses."
"GM has changed the world before and we're doing it again," said CEO Mary Barra. "We have multiple drivers of long-term growth and I've never been more confident or excited about the opportunities ahead."
Experts: Why Investors Should Have an EV in Their Portfolio
Action Alerts PLUS co-portfolio managers Bob Lang and Chris Versace broke down what they're watching in the market, why investors should pay particular attention to the S&P 500, and talked about the future of EV. Want to get more of their investing insights and trading strategies? Check out a free trial of Action Alerts PLUS.
When asked if every investor needs an EV sector name in their portfolio at this point, Versace said: "Without a doubt, we're going to see a pronounced structural shift towards the adoption of EVs. There's an increasing number of consumers that are more mindful about the impact of emissions, there is regulatory reform pending that will help spur the adoption of those, and we're seeing more companies enter the marketplace, which I think is good because it's going to help drop the price of EVs and make them far more cost-competitive with existing fossil fuel-powered vehicles."
"There is a pronounced structural shift so, at a minimum, I think members want some exposure. We can debate whether it's Ford (F) - Get Ford Motor Company Report, GM, Tesla (TSLA,) - Get Tesla Inc Report or do we do it with a supplier?...I've mentioned one of my favorite investment strategies is to buy the bullets and not the guns, which really centers around key suppliers," he added.
Right now, the AAP portfolio owns Ford and Versace touts the wonderfully-priced supply chain companies that will benefit from the uplift in EVs. "What GM said is extremely confirming about the structural shift...they're putting some big numbers out there and we'll see if those targets really stick, but it's all in the right direction. A rising tide will lift all these boats."
Tesla Released Experimental Driver-Assistance Software to Eligible Car Owners
Tesla reportedly sent invitations to some drivers for its new experimental driver-assistance software, according to news reports.
The electric vehicle maker released a new version of its experimental driver-assistance software, Full Self-Driving Beta 10.2, CNBC reported citing an email the company sent to eligible car owners on Monday. To get access to FSD Beta in general, drivers must own Tesla vehicles with newer hardware and must purchase or subscribe to the premium FSD package, which costs $10,000 upfront in the U.S. or $199 a month.
The company used an insurance calculator to come up with a safety score for drivers. They must also score 100 out of 100 possible points in a week of driving at least 100 miles.
Tesla stock hit a seven-month high Tuesday after the carmaker defied a sharp slowdown in China to record its best-ever September sales tally from the world's biggest car market. The company sold over 56,000 China-made cars in the month.
Space Race: Star Trek's William Shatner Launched Aboard Jeff Bezo's Blue Origin, Tesla CEO Elon Musk's SpaceX Competitor
On Wednesday, Star Trek's Captain Kirk actor William Shatner launched aboard a rocket and capsule developed by Blue Origin, the private spaceflight company founded by Amazon (AMZN) - Get Amazon.com, Inc. Report founder Jeff Bezos. Blue Origin is the rival to SpaceX, which is run by Tesla CEO Elon Musk.
Shatner and three other crew members — Audrey Powers, Blue Origin’s vice president of mission and flight operations, and two paying customers, Glen de Vries and Chris Boshuizen — took a trip on Blue Origin's New Shepard rocket and capsule to the edge of space. Liftoff was at 10 a.m. ET from Blue Origin's launch site in Van Horn, Texas. Shatner, 90, is now the oldest person to travel to space and back.
"Everybody in the world needs to do this," Shatner said after the spaceflight, reported by CNN.
"William Shatner's journey into space is much bigger than tourism for the ultra-wealthy but a symbol of the power of the human imagination," Adam Frank, a professor of physics and astronomy at the University of Rochester, said Thursday. Frank told CNN that Shatner, an actor best known for his portrayal of Captain James T. Kirk on "Star Trek," served as a symbol for humanity's extraterrestrial hopes and dreams.
Blue Origin recently won a protective order in the U.S. Court of Federal Claims, sealing documents in its lawsuit against NASA, which alleges that the agency didn't properly evaluate its proposal for the human landing system that it awarded to SpaceX.