What Went Down With GM Stock Today?

General Motors Company GM shares set new intraday and closing records Tuesday. 

What Happened: The Detroit-based automaker’s shares ended the regular session 1.47% higher at $61.94, which is a level never before reached. On an intra-day basis, GM’s shares reached $63.43, an all-time high. 

In the after-hours session, the shares rose another 0.26% to $62.10. The total gain in the two sessions was 1.73%.

GM shares have risen 48.8% so far this year and 190.8% on a net basis over a period of one year.

The spike came after the automaker introduced a Silverado electric truck, which will be built at the company’s assembly plant in Detroit and Hamtramck, Michigan. 

Why It Matters: In January 2020, GM had announced a $2.2 billion investment in the Detroit-Hamtramck assembly plant. The automaker calls this plant “Factory ZERO.”

The GMC Hummer EV pickup and the Cruise Origin, an all-electric and share self-driving vehicle, will also be built at the same facility, according to GM.

The Hummer EV, launched in October 2020, attracted high interest for its Edition 1. Reservations for the $112,595 truck were full at launch.

See Also: General Motors To Offer Only EVs By 2035

GM may be a likely partner for Apple Inc AAPL in its rumored electric vehicle foray, according to an analyst who regularly covers the Cupertino, California-based tech giant.

Click here to check out Benzinga’s EV Hub for the latest electric vehicles news.

Photo by Don Harrison on Flickr