General Motors (GM) has opened its Advanced Design Center in Shanghai, China. The opening follows an expansion drive that doubled the design capacity and is expected to enhance GM’s battery-electric vehicle development.
The upgraded facility features a more flexible development space and advanced technologies. It also comes with specialized equipment that can be used to create new designs for electric and autonomous vehicles. A flexible open layout will allow the Advanced Design Centre to push the boundaries of modern design.
The 5,000 square meter facility comes with milling platforms, a color, material, and finish studio, a mounted display studio, and a virtual reality room, making it one of the most advanced facilities in China. Designers will be able to come up with mobility concepts for the new era.
The facility will allow General Motors to remain proactive in exploring synergies across the region while also spearheading transformation in the industry. (See General Motors stock chart on TipRanks)
“We also believe that with facilities like the new GM China Advanced Design Center and its growing team of professionals, we have the right organizations and people to bring the most desirable products to China’s consumers in the new era of electrification and connectivity,” said Executive VP of GM China, Julian Blissett.
Barclays analyst Brian Johnson recently reiterated a Buy rating on the stock and raised his price target to $74 from $70, implying 25.51% upside potential to current levels. According to the analyst, better pricing, compounded by better financial performance, should drive better than expected results at GM.
Consensus among analysts is a Strong Buy based on 12 Buys and 1 Hold. The average General Motors price target of $73.38 implies 24.46% upside potential to current levels.
GM scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.