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General Motors (GM) has seen strong stock performance, reaching a new 52-week and all-time high of $77 per share, up 40% year-to-date, attributed to effective restructuring, strong financial results, and optimism in its EV strategy.
In 2023, GM’s EV sales surged by 105% with over 144,000 units sold in the U.S., making it the second-largest EV seller after Tesla, driven largely by the success of its Chevrolet Equinox EV. In China, GM is undergoing restructuring, which includes a $2.6-$2.9 billion write-down and the closure of a factory, to focus on profitable models.
GM is also partnering with Lithium Americas on the Thacker Pass project in Nevada, which is anticipated to be a major lithium source for EV production. The company has consistently exceeded earnings estimates, with a recent Q3 EPS of $2.80 compared to estimates of $2.28.
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