GM Expands EV Offering With Midsize Delivery Van, Wins Verizon As Customer

General Motors Co's GM BrightDrop electric commercial vehicle business will add a new midsized cargo hauler to its lineup in 2023. GM has agreed to supply that vehicle to Verizon Communications Inc VZ.
The medium-sized EV410, aimed at a segment that includes grocery, telecommunications, and other service providers that require smaller vehicles, will be built starting in the second half of 2023 at the company's CAMI assembly plant in Canada.
The Ingersoll Rand Inc IR Ontario plant will start building the larger EV600 van in November 2022.
GM has been gearing up to produce its larger electric van, the EV600, with the first 500 reserved for FedEx Corp FDX, Bloomberg reports.
Price Action: GM shares traded higher by 0.08% at $53.28 on the last check Tuesday.