GM Surges After Announcing Cadillac Will Compete With Tesla

Published on 12 Jan 2019, 3:26
Business Insider reports that General Motors rallied Friday, climbing more than 9%, after the company said it would use its Cadillac brand to take on Tesla. Friday's gains rocketed GM shares to nearly $37.50, their best level since the beginning of December. In November, the auto manufacturer announced a restructuring plan which included shutting down seven plants globally in 2019, including three assembly plants in North America.

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