General Motors’ CEO Mary Barra is reaping the rewards of the company’s decision to reinvent itself around cars using electric and autonomous technology.
Barra spoke Monday night to the investment banking division of JPMorgan Chase, one of the largest shareholders in GM. She said investors will reward the company for its commitment to an electric future, noting that other automakers have committed to similar new-vehicle initiatives.
The company recently bought the largest car-sharing service, Lyft, and is investing heavily in the growing electric-vehicle market. Barra said the company “made the first move into the mobility business,” according to the Wall Street Journal.
Barra said GM will work closely with Lyft, as well as work with Indian rival Tata Motors to bring the Smart Fortwo electric vehicle to the market this year. She also said the company is working on autonomous vehicle technology, according to CNN Money.
Investors have been eating GM’s crow. Its stock has risen to about $42 after sinking to $22 in 2010.
GM is also working to increase its car and truck sales in China.
After the IPO, though, it will face a different consumer. Changing vehicle habits and the threat of autonomous vehicles will provide a stiffer competition for GM and other automakers.
— CNN contributed to this report.