Engine No. 1 to Announce Stake in General Motors (GM) - NYT DealBook

October 4, 2021 8:08 AM EDT

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(Updated - October 4, 2021 8:21 AM EDT)

Activist investor Engine No. 1 will formally announce today that it has taken a stake in General Motors (NYSE: GM), according to a report in NYT DealBook. The purchase is pitched as a show of support for the automaker's transition to electric vehicles.

Engine No. 1 argued in a white paper that GM merits a higher valuation because of its scale and commitment to electric cars.

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