General Motors Co (GM, Financial) has the proverbial peddle to the metal, going to market with a trio of new initiatives this month – and the investor community is taking notice.
GM announced two days ago new commercial applications of its HYDROTEC fuel cell technology. HYDROTEC projects, which are currently in development from heavy-duty trucks to aerospace and locomotives, are being planned for use beyond vehicles for power generation. Management said they are planning multiple HYDROTEC-based power generators, all powered by GM’s Generation 2 HYDROTEC fuel cell power cubes, including:
- A Mobile Power Generator (MPG) to provide fast-charge capability for EVs without installing permanent charge points
- The EMPOWER rapid charger to help retail fuel stations add affordable DC fast charging without expanding the grid
- A palletized MPG to quietly and efficiently power military camps and installations
These fuel cell generators could ultimately replace gas- and diesel-burning generators with fewer emissions at worksites, buildings, movie sets, data centers, outdoor concerts and festivals, the company said in a release. They could also back up or temporarily replace grid-sourced electricity for residential and small commercial enterprises at times of power disruption. Each of these HYDROTEC-based power generators feature zero-emissions electric power generation output ranging from 60 kilowatts to 600 kilowatts, along with low noise and heat signatures.
A day earlier, GM had said it is launching a new online parts marketplace, making its catalog of 45,000 repair and maintenance parts more convenient for Chevrolet, GMC, Buick and Cadillac owners. The newly available parts catalog includes oil filters, engine and cabin air filters, batteries, brake pads, accessory belts, cooling hoses and windshield wiper blades, among other parts.
Building on investments in digital commerce, GM’s online parts store combines the most convenient aspects of online shopping and physical retail into one experience. Customers can choose home delivery or pick up their order at one of more than 800 participating dealers, where staff is available to answer questions.
Parts purchased through GM’s online store are eligible for Chevrolet, Cadillac, Buick and GMC rewards programs, earning customers points that can be used to pay for parts, accessories or Certified Service at participating dealers. Buying through GM’s online store also provides customers with confidence that they are purchasing original equipment ACDelco and GM Genuine Parts that are compatible with their vehicles.
If that were not enough, earlier this month the company unveiled CarBravo, “a new way to shop for used vehicles.” The program offers used-vehicle shoppers access to an expansive inventory, an omnichannel shopping experience and exclusive ownership benefits.
CarBravo will deliver a seamless customer experience through GM’s new digital retail platform (DRP).. The DRP will providea simple and transparent shopping interface featuring clear dealer pricing, vehicle history reports and 360-degree views of the vehicle. All CarBravo vehicles will be inspected and reconditioned to meet standards set by GM. Customers can receive guaranteed online offers, from the industry standard Black Book, to buy their vehicles even if they do not purchase a vehicle through CarBravo.
The company was hailed just last week by Barron’s, which said in a piece headlined “The Company Is Quickly Becoming a Major EV Player” that it is “fast becoming one of the most exciting players in the electric-vehicle space — and Wall Street is starting to notice. Several factors play into the bullish case for GM — with a key part being that the automaker plans to double its revenue to about $300 billion by 2030. Nearly a third of those sales, GM predicts, will come from EVs.”
Despite its progress, however, General Motors’ stock price appears to some to be lagging based on future earnings estimates. Based on Wall Street's predictions, the stock is trading at approximately nine times the projected 2022 earnings. At the same time, Tesla (TSLA, Financial) trades at 117 times earnings.
