General Motors Unveils New Electric Van and Delivery Technology and DoorDash Announces Plans to Operate in Japan
On Tuesday, shares of General Motors hit a record high after the automotive company revealed an electric delivery van and a vertical take-off and landing aircraft (eVTOL). Shares of General Motors closed up 6.2% at $47.82 and set an intraday high of $48.95.
General Motors’ electric van, the EV600, is scheduled to go on sale later this year. The van will be sold through GMs latest business unit called BrightDrop. BrightDrop will create electric vehicles and technology to assist delivery processes.
In addition to the EV600, BrightDrop is expected to offer the EP1 propulsion-assisted pallet, a motorized box that can aid couriers delivering packages. The EP1 can carry up to 200 pounds, can go up to 3 mph and can maneuver in tight spaces.
Shares of GM are up over 50% in the past 3 months.
On Tuesday, shares of food delivery company, DoorDash, hit a record high after the company announced plans to operate in Japan last Friday. Shares of DoorDash closed up 14.92% at $191.99 and set an intraday high of $201.93.
Investors reacted positively to this news because Japan is a wide-open market for food delivery as most of its restaurants do not have a food delivery service for their customers. Additionally, in a very urban society with short distances from restaurants to customers, Japan is a good market for DoorDash.
Shares of DoorDash are up over 32% in the past 5 days.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.