Anything, anyone, any company connected to electrical vehicles appear to be thriving right now. Tesla’s stock is through the roof, along with Elon Musk’s personal net worth, and Tuesday even General Motors saw their stock explode to a record high, simply from revealing potential plans about a new electric van and futuristic flying cars.
GM saw their stock surge almost 9% to $48.95. That increased their market cap by a staggering $70 billion, or essentially one month’s pay for Musk. The last time GM’s stock was anywhere near this level was 2017 when it hit $46.76.
In case you’re curious about the electric van, it’s called the EV600, and it is scheduled to go on sale later this year. One of its primary functions will be as a delivery vehicle for large companies. That’s just the beginning too, as the company also said their new division called BrightDrop is planning a full portfolio of electric products that will be available soon.
As for that flying car, or “personal air mobility” as GM called it, that is part of Cadillac’s portfolio of luxury EV vehicles. This flying vehicle will be designed to carry one passenger and can hit speeds up to 56 mph, as it flies between rooftops and other areas in an urban setting.
Flying cars might be all the rage in 20 years or so. Morgan Stanley said they expect the autonomous urban aircraft market might be worth $1.5 trillion in 2040.
Investments are flying in from both the automotive and aviation industries, and multiple collaborations are being formed to try to come up with the best, and or first flying car.