GM named one of Time's 'Most Influential Companies'
Detroit — General Motors Co. was named one of Time Magazine's 100 Most Influential Companies for "engineering a greener future" with its electric vehicle plans.
GM was the only automaker in the Detroit Three to make the list. Volkswagen and Tesla Inc. also were named for their commitments to electrify the auto industry.
For the first time ever, the Detroit automaker is spending more money this year on EV development than on development of gas-and-diesel-powered vehicles. GM is pushing to sell 1 million EVs globally by 2025, and to get there it's transitioning four plants to build them.
But GM has struggled to get investors to see the legacy automaker as a leader in the EV future that's as valuable as the likes of Tesla and other EV startups. Tesla's market cap is more than $700 billion. GM's is under $80 billion.
GM CEO Mary Barra told Time: "One of the pieces I think that sometimes investors miss is that virtually all the assets necessary to achieve our vision we already have and have demonstrated. Sometimes we will forget we actually sell more vehicles in this country than anyone else. We have strong brands. We have industry-leading loyalty. And we have an incredibly capable manufacturing team. We have to tell our story better and put a few more points on the board."
Other companies that made the list include Walgreens, CVS for its COVID-19 vaccination efforts; Moderna, Pfizer and Biontech, and Johnson & Johnson for their vaccines, and social media networks Twitter and Facebook.