A Little Good News for GM Investors: But Will It Move the Needle?
The automotive industry is arguably poised to evolve more over the next decade or two than it has over the past century. There is a massive opportunity for automakers with the transition to electric vehicles (EVs), the potential for software revenue and subscription-as-a-service, and robotaxis, just to name a few things.
For all of the exciting potential upside, all that General Motors' (NYSE: GM) majority-owned Cruise business has seemingly done so far is provide headaches. But finally, there's a bit of good news for investors hoping Cruise's robotaxis are driving forward again.
Cruise was rocked with controversy in large part due to a collision with a pedestrian and questionable decision-making from prior management. The company turned over a chunk of upper management, laid off employees, and temporarily halted rides. Cruise now aims to return to providing fully autonomous rides later this year and potentially charging fares by early 2025, per a Bloomberg report.
Source Fool.com
General Motors Corp Stock
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As a result the target price of 49 € shows a slightly positive potential of 10.63% compared to the current price of 44.29 € for General Motors Corp.
