General Motors Company (NYSE:GM) aims at resolving transportation problems caused due to natural disasters, complex logistics environments and global conflicts. With this plan in place, the company is set to display an adaptable fuel-cell electric platform with autonomous ability, known as Silent Utility Rover Universal Superstructure (SURUS).
This autonomous platform will be displayed in the Association of the United States Army (AUSA) event, to be held from Oct 9-11, 2017. The platform could be further modified for military purposes.
SURUS features General Motors hydrotec fuel-cell system, autonomous capability and truck chassis components for delivering high-performance, zero-emission propulsion. These features will help GM reduce logistical burdens and maximize human safety. Other benefits include quiet and odor-free operation plus exportable power and water generation.
General Motors Company Price and Consensus
Fuel-cell technology uses General Motors’ zero-emission strategy, offering solutions for larger vehicles, having large payload requirements and run for long distances.
The company is assessing applications using SURUS for utility trucks, flexible cargo delivery systems, commercial freight, mobile and emergency backup power generation besides light and medium-duty trucks.
Notably, SURUS platform will offer highly mobile autonomous capability and could also decrease the manpower needed for operating multiple vehicles. Additionally, for military purposes, the system’s low heat and quiet operation will be useful by reducing risks and defect detection chances.
In October, GM announced plans to focus more on developing electric vehicles. In line with the plan, it expects to roll out two new electric vehicles (EVs) in the next 18 months. The company will also be adding 20 electric or hydrogen fuel-cell vehicles in the market by 2023. It also has objectives to build fast-charging electric stations in the United States to power electric vehicles.
Shares of GM stock have surged 32.2% in the last six months, significantly outperforming the industry’s 15.7% rally.
Zacks Rank & Key Picks
General Motors stock carries a Zacks Rank# 3 (Hold).
A few better-ranked auto stocks are Toyota Motor Corp (NYSE:TM), Cummins Inc. (NYSE:CMI) and Daimler AG (OTCMKTS:DDAIF). Toyota sports a Zacks Rank #1 (Strong Buy), whereas Cummins and Daimler hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Toyota has an expected long-term earnings growth rate of 7%.
Cummins has an expected long-term earnings growth rate of 12.1%.
Daimler has an expected long-term earnings growth rate of 2.8%.
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