The announcement was not marketing hype. The announcement was a business transaction (strategic partnership) announcing that one business was buying service/product from another. Investors see this as positive, and react with purchasing stock.
Last week, GM and Honda announced they have signed a non-binding memorandum of understanding following extensive preliminary discussions toward establishing a North American automotive alliance.
Today, GM announced that the Ultium battery – the power source behind GM’s future EV portfolio - will feature an almost completely wireless battery management system, or wBMS.
I think I see a GMC Hummer soon!
