Tesla and General Motors forge partnership, stocks surge in response

Tesla Inc. and General Motors Company saw a surge in their premarket stock prices on Friday. The rise was attributed to a collaboration between the two automotive giants, focusing on the establishment of electric vehicle charging stations.

General Motors’ electric vehicles will gain access to Tesla’s extensive network of 12,000 Superchargers across North America, starting in 2025. This partnership marks a significant step forward in providing efficient and accessible charging solutions, giving General Motors a competitive edge in the electric vehicle market.

The collaboration follows a recent partnership between Tesla and Ford, that also allows Ford’s electric vehicle owners access to Tesla Superchargers in early 2024.

During premarket trading, Tesla’s stock price soared by 6.29%, with shares reaching a value of $249.66 each. General Motors also experienced a notable increase in its stock price, rising by 5.02% and valuing its shares at $37.65.