GM: Wedbush welcomes agreement signed with Lithion

( – Wedbush Securities maintained its ‘outperform’ opinion on GM on Thursday, with a target price of 42 dollars, in reaction to the strategic partnership concluded with Lithion, a specialist in the recycling of batteries for electric vehicles.

In a research note, the American broker hails “a step in the right direction” in order to achieve the production target of more than one million electric vehicles that the group has set for itself by 2025.

‘Like Tesla’s recent efforts to build a lithium refining plant, GM’s decision is yet another example of the transformation at work in the industry, which sees the race for electric to continue and manufacturers are struggling to implement vertical integration of their activities and keep their costs under control in view of the current environment,” he explains.

From Wedbush’s point of view, the acceleration of electric is on track, with the segment expected to represent 10% of the automotive market by 2025, compared to less than 3% today.

The broker, who compares the current situation to the emergence of the Ford T, expects the future winners to distinguish themselves in the years to come, this period being according to him the most exciting in the industry since the 1950s.

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