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Kelley Blue Book Analyst: Chevrolet Is Ready To Take On Elon Musk

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Kelley Blue Book Senior Analyst Karl Brauer thinks that the Chevrolet Bold concept car unveiled Monday at the North American International Auto Show is a clear signal that General Motors Company (NYSE: GM) wants to get into the pure electric car market.

“The similarity between the Bolt and the Tesla can’t be a coincidence, suggesting Chevrolet is ready to take on [Elon] Musk and Silicon Valley’s vision of personal transportation,” Brauer said.

He added that if the final production version of the Bolt delivers on the concept’s promise, it should finally put electric vehicles on the map when it comes to volume sales.

Shares of General Motors traded about 0.7 percent higher on Monday, while Tesla Motors Inc (NASDAQ: TSLA) finished the day down more than 2 percent.

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Apr 2021MizuhoMaintainsBuy
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Apr 2021JP MorganMaintainsUnderweight

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