this is a monstrous gamble....they’re betting the technology advances dramatically by the time they’re also ready to fully convert. I’d sell my stock.
Yep. This.
I’d sell my stock.
Yep, this too. If it works, they're geniuses. More likely than not, though? Epic Failure. Awful lot of moving parts need to come together, and they're mostly in the electric utility sector and completely out of GM's hands.
Decisions like this make me wonder who's in charge, and if they've bought into the whole climate-change/eco-lunatic fringe, who think that electricity magically appears at wall outlets. True believers would make decisions like this, and wonder what happened when reality intrudes.
When Milton Hershey started Hershey, PA, he was gambling his hard-earned fortune on his ability to figure out how to make chocolate, which at the time was perhaps the most tightly held secret in the world.
That being said, our entire infrastructure is built around petroleum, and I doubt gasoline and diesel will ever disappear. They work.
“this is a monstrous gamble....they’re betting the technology advances dramatically by the time they’re also ready to fully convert. I’d sell my stock.”
It also means they won’t be doing squat to improve and innovate on normal cars so their products will be junk.
It drove up their stock today.
That said, to me, this is one of those “feel good drive up the stock” statements that can be forgotten in a heart beat if the market isn’t asking for it (and gov isn’t requiring it).
You could just as easily say “IF the technology exists that enables fast charging, long range, cheaper TCO, etc. - we will definitely be doing it”. Why wouldn’t you? ...they’ll never risk the company on promises that can’t be made though.