NEW YORK, NY / ACCESSWIRE / October 3, 2017 / Shares of Ford Motor Company and General Motors Company saw gains on Monday after each company had their own positive electric vehicle announcement. Ford Motor will be launching a group called "Team Edison" that will identify and develop electric vehicle partnerships while General Motors has pledged to introduce at least twenty new electric vehicles by the year 2023.

RDI Initiates Coverage on:

Ford Motor Company
https://rdinvesting.com/news/?ticker=F

General Motors Company
https://rdinvesting.com/news/?ticker=GM

Ford Motor Company's shares closed up 1% yesterday on about 36 million shares traded. The automaker is launching an internal group to develop electric vehicles according to a Reuters report. The group will be called "Team Edison" and according to the vice president of autonomous vehicles and electrification, Sherif Marakby, it will "identify and develop electric vehicle partnerships with other companies, including suppliers in some markets." Marakby said the group will be based in the Detroit area and will be working with regional company vehicle electrification teams in Europe as well as China. According to Marakby, the group "will look holistically at the electric vehicle market."

Access RDI's Ford Motor Company Research Report at:
https://rdinvesting.com/news/?ticker=F

General Motors Company's shares closed up 4.38% on Monday with nearly 34 million shares traded. The stock hit a new high of $42.48 during intra-day trading. The company laid out its plans on Monday to add 20 new battery electric and fuel-cell vehicles to its lineup around the world by 2023. The company's global product development chief, Mark Reuss, stated, "General Motors believes in an all-electric future. Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles through no-compromise solutions that meet our customers' needs." Reuss said that GM electric vehicles in the future "will be profitable." "We will continue to make sure our internal combustion engines will get more and more efficient," he explained. General Motors has promised that "at least 20" new all-electric vehicles will be here by 2023 and that the first two are expected in the next year and a half.

Access RDI's General Motors Company Research Report at:
https://rdinvesting.com/news/?ticker=GM

Our Actionable Research on Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) can be downloaded free of charge at Research Driven Investing.

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