Why Investors Should Be Bullish on General Motors Even as U.S. Sales Slip
A strategic pivot into energy could power GM for years.
Overview
General Motors (NYSE: GM) is not having an easy time selling electric vehicles (EVs) in the U.S. Once again, second-quarter U.S. sales were dragged down by EVs, with the company posting a 4.2% drop to just under 715,000 vehicles. As federal incentives fall by the wayside and demand for EVs hits a wall domestically, GM is focusing on other aspects of the business to pick up the slack.
GM has one newer revenue engine that could have an outsize impact on the company's financials. Recently, the automaker pivoted into energy storage. Energy storage demand is exploding around the country as AI data centers continue to put immense pressure on the grid. GM can easily pivot many of its existing assets into this initiative.
Image source: The Motley Fool.
Details
Source
Originally published at www.fool.com.