NEW YORK (TheStreet) -- Shares of General Motors (GM) closed up by 0.82% to $35.81 in Wednesday's trading session, after the company's CEO Mary Barra announced that by the end of this year, 14 Chevrolet models will have connected car technology from Apple (AAPL) and Google (GOOGL), AP reports.
"We're putting it across our portfolio of Chevrolets as quickly as we can, because we want to make that technology available to everyone," Barra said today at the Code Conference in California, according to CNBC.
She highlighted that the auto industry is poised for more change in the next five to 10 years than it's seen in the past.
In Chevy's 2016 models, Apple's CarPlay and Google's Android Auto will turn the car's dashboard screen into a smartphone.
In order to get the systems, General Motors customers will have to buy a new Chevrolet equipped with "MyLink" touch screens, AP added.
TheStreet Ratings team rates GENERAL MOTORS CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL MOTORS CO (GM) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, impressive record of earnings per share growth, notable return on equity, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel its strengths outweigh the fact that the company shows weak operating cash flow."