Activist Investor Engine No. 1 Says It Will Boost GM’s Electric Car Push

Texas News Today

Engine No. 1 LLC, an active investment company that has been successful in driving change in ExxonMobil Ltd.

Said he was backing General Motors on Monday Ltd.

GM 2.10%

Bid to lead the transition to electric vehicles.

In a white paper released Monday, the investment company said it believes GM and other traditional automakers have the scale and know-how to adopt electric vehicles. The investment company invested in GM in the first quarter, but did not disclose the ideas behind the move.

“scale of [electric vehicle] The challenges of transition outweigh the deadlines that Tesla and other new entrants can overcome in their time of need,” the company wrote. “Existing automakers may be a central player in the transition…. [electric vehicles] I am completely inspired to do the same. “

write to Mike Colias at [email protected]

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