General Motors (NYSE: GM) said that it is launching a new electric commercial-vehicle business, called BrightDrop, that will provide a complete set of software-connected electric vehicles (EVs) to customers. And it has already landed FedEx (NYSE: FDX) as its first big customer.
While tiny EV start-ups have captured the attention of auto investors in recent months, GM’s news is a big reminder that the old automakers can play this game, too. And some, like GM, are positioning themselves to be leaders as the world transitions to electric vehicles.
BrightDrop is just one piece of GM’s emerging EV plan, but it could be a big one in time. Here’s what we know.