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GM Jettisons Dinosaur Image as Investors Buy Into Mobility Bets

October 23, 2017

While newer industry players have had trouble getting up to speed, GM has grown its Maven car-sharing business, planned 20 new electric models by 2023 and tested autonomous vehicles in several cities. Oh, and it might be able to mass produce self-driving Chevrolet Bolts.

General Motors Co. was founded in 1908, but investors long treated the automaker as though it were born in the Jurassic period — until now.

The more-than-one-century-old automaker’s shares have soared 17% in the past month after hovering near their 2010 initial offering price for years, following a parade of analyst reports lauding its technology chops. Investors are betting that GM’s test fleet of self-driving electric cars can be converted into a lucrative robotaxi operation worth billions.

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