The investment cases for America’s largest automakers are increasingly diverging as the companies — separated by just $1 billion in market value — have taken different tacks around electric and autonomous vehicles.
GM has been diversifying as much as possible around its emerging battery and self-driving vehicle businesses alongside a plan to exclusively offer electric vehicles by 2035. Ford is moving into EVs, too, but keeping up investments in its traditional businesses at the same time.
Last month Ford announced it would disband its Argo AI autonomous vehicle unit saying it didn’t have faith in the business or its potential for monetization in the foreseeable future. Meanwhile, GM’s Cruise said it was expanding its robotaxi service to cover most of San Francisco. It came months after the company commercially launched its self-driving vehicle fleet during limited hours at night.
