Recently, there was news that pure-play EV enterprises didn’t want to hear, but it was news that represented a lifeline to legacy automotive manufacturer General Motors (NYSE:GM). Essentially, the government softened its stance on efficiency requirements, thus giving GM stock extended fundamental relevance. Simultaneously, there are more questions now about the push for electrification. I am bullish on General Motors based on its flexibility to handle the currently dynamic auto market.
Great News for GM Stock, Not So Much for EVs
Last week, GM stock and its legacy automotive peers popped higher as the federal government adjusted its stance on fuel economy rules. Specifically, the Department of Energy let off the accelerator on a proposal that would have forced auto manufacturers to limit the production of high-gasoline-consumption vehicles. Otherwise, fines of billions of dollars may have been imposed.
However,…
