June 3, 2021, 10:32 am EDT
Automakers Catch Up
Traditional automakers GM (GM) and Ford (F) both rise up +6% this morning to catch up with the rally that was dominated by electric cars made by Tesla (TSLA) for the past few years. Indeed, higher gasoline prices push transformation quicker from gasoline engines to electric motors.
Ford long-time leaders in making trucks, its F-150, will have an electric version called Lightening.
GM will have 12 electric vehicles soon.
Their experience should help them to get up speed to grab a piece of pies from Telsa. It also explains why Tesla stock keeps falling for months.