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MarketScreener Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

GENERAL MOTORS COMPANY

(GM)
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General Motors : GM unveils all-electric Hummer EV, its first new model since 2010

10/21/2020 | 12:05pm EST

General Motors has unveiled its first new Hummer in more than a decade -- a fully electric-powered version this time, which will hit the road in two years.

The automaker on Tuesday took the wraps off its GMC Hummer EV Edition 1 "supertruck," which will be available in 2022.

The "sport-utility truck" will combine the performance of a sports car with off-road capabilities of a pickup in a vehicle that will have a 350-mile range on a single charge, GM said.

The vehicle will be GM's first Hummer since it stopped production in 2010 after the automaker failed to find a buyer for the brand. GM acquired Hummer from AM General in 1999.

The Hummer EV has 1,000 horsepower and can go from zero to 60 mph in just three seconds, GM says. Photo courtesy General Motors/UPI

The Hummer EV, GMC's first full-electric vehicle, will be powered by the new Ultium battery system that's produced with LG Chem in Lordstown, Ohio. It will also offer several tech features, including the hands-free Super Cruise driving system.

GM said the 1,000-horsepower Hummer EV can go from zero to 60 mph in 3 seconds and includes armor plating and cameras on the vehicle's undercarriage.

Initial production is set to begin in late next year at GM's "Factory Zero" plant in Detroit, which is undergoing a $2.2 billion retooling to allow the automaker to transition to electric vehicle production.

The new 4x4 faces competition from other forthcoming electric pickups, including Ford's all-electric F-150, Tesla's Cybertruck and Rivian's R1T, all of which are expected to be less expensive than the Hummer EV.

The Hummer EV's price tag will begin at $112,000. General Motors said it is already taking reservations for orders.

Copyright 2020 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News

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Financials (USD)
Sales 2020 121 B - -
Net income 2020 5 499 M - -
Net cash 2020 5 923 M - -
P/E ratio 2020 11,3x
Yield 2020 0,86%
Capitalization 64 495 M 64 495 M -
EV / Sales 2020 0,48x
EV / Sales 2021 0,41x
Nbr of Employees 164 000
Free-Float 92,8%
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Technical analysis trends GENERAL MOTORS COMPANY
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Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 47,65 $
Last Close Price 45,06 $
Spread / Highest target 59,8%
Spread / Average Target 5,74%
Spread / Lowest Target -40,1%
EPS Revisions
Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Mark L. Reuss President
John Stapleton Chief Financial Officer
Randall D. Mott Chief Information Officer
Matthew Tsien Chief Technology Officer & Executive VP
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