GM Announces Return of the Hummer, this time, All-Electric
This morning General Motors (NYSE: GM) rolled out their new website with a brief blog roll on the new all electric Hummer. The company is resurrecting the Hummer brand for a new all-electric truck that will have upto 1,000 horsepower and go from 0 to 60 MPH in under 3 seconds. The new electric Hummer truck will be announced to the mainstream during a Super Bowl ad this coming Sunday, and will be treated to a full reveal on May 20th. It is expected to be available for sale in late 2021.
The new EV will be produced in the Detroit-Hamtramck assembly plant, which GM announced a $2.2B investment into last week. The company has not given any production volumes or battery supply for the new Hummer, but the company has released a new commercial this morning:
Esquire magazine reminds us, the Hummer H2 back in the day had a fuel economy of around 13 miles per gallon combined. For perspective, a 2019 Prius, gets over 50 miles per gallon. Showing a full 180 degree shift, going from gas guzzler to gas free.
Our electric vehicle strategy is unmatched in the industry, in terms of our combination of advanced technology, flexibility, speed and scale. We know what customers want and expect from their cars, trucks, crossovers and SUVs. And we’re better positioned than anyone else to give them the EV that best suits those needs and wants. We’ll offer them a wide portfolio, and we’ll do it profitably, as we lead the industry on the road to an all-electric future.
Mark Reuss, General Motors, President
General Motors stock last traded at $33.02 down 57c at the time of publishing.
Information for this briefing was found via General Motors and the provided links within the article. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
SmallCapSteve started blogging in the Winter of 2009. During that time, he was able to spot many take over candidates and pick a variety of stocks that generated returns in excess of 200%. Today he consults with microcap companies helping them with capital markets strategy and focuses on industries including cannabis, tech, and junior mining.
