Swinging

GM ‘Came Out Swinging’ Against Tesla With Its Electric-Vehicle Technology

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Photograph by Justin Sullivan/Getty Images

General Motors
has big electric-vehicle ambitions, and Wall Street appears to be impressed.

“GM comes out swinging against Tesla,” Wedbush analyst Dan Ives wrote in a Wednesday evening research report, following the company’s electric-vehicle technology presentation near Detroit earlier in the day.

Ives covers
Tesla
(ticker: TSLA) stock but not General Motors (GM). He was interested in what the state of EV technology is at a traditional auto maker that predominantly builds gasoline-powered vehicles. “We believe the event was a clear shot across the bow against [Elon] Musk and Tesla, which continues to lead the EV landscape by a clear margin.”

Even though Ives thinks Tesla is in the lead, he said Musk’s company has to take GM “seriously in this EV arms race.”

GM CEO Mary Barra said Wednesday that “from 2020 to 2025, we will allocate more

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