GM CFO Says Combustion Business Is Still Doing Okay
Portfolio Pulse from Benzinga Newsdesk
At the Deutsche Bank conference, General Motors' CFO stated that the company's combustion engine business is still performing well despite the shift towards electric vehicles.
June 15, 2023 | 4:29 pm
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General Motors' CFO reassures investors that the combustion engine business is still doing well, even as the company focuses on electric vehicles.
The statement from GM's CFO indicates that the company's traditional combustion engine business is still performing well, which may reassure investors concerned about the transition to electric vehicles. However, the long-term trend towards electric vehicles may still impact the company's stock price, so the short-term impact is neutral.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100