DETROIT – Shares of General Motors reached a brand new report throughout intraday buying and selling Tuesday after the automaker confirmed plans to supply an all-electric Chevrolet Silverado pickup at an meeting plant for EVs that is beneath building in Detroit.

GM’s inventory rose as a lot as 3.9% to $63.44 a share Tuesday — topping the automaker’s earlier intraday excessive of $62.24 that was achieved final month. It is the best GM’s shares have traded because the automaker emerged from chapter in 2009.

Shares of the corporate have been buying and selling round $62.20 as of Tuesday afternoon, up by about 2%. The inventory is up about 50% up to now this yr. GM’s market cap is about $90 billion.

The efficiency of GM’s inventory this yr has been pushed by a gentle array of bulletins associated to electrical autos. It is also validating feedback made final month by GM CEO Mary Barra in regards to the inventory’s future potential.

“I feel because the market begins to see all the belongings and assets Common Motors brings to this transformation, I feel we’re simply at first of the place you will see GM’s inventory transfer,” she mentioned throughout an internet dialogue March 11 with The Financial Membership of New York’s Ladies in Enterprise occasion.

The electrical Silverado is a part of a beforehand introduced $2.2 billion investment within the plant to supply an array of its next-generation EVs starting later this yr with an all-electric GMC Hummer pickup. Different deliberate autos for the ability embrace the recently unveiled Hummer EV SUV and an autonomous multi-passenger shuttle generally known as the Cruise Origin.

Affirmation of the Silverado EV got here days after the automaker unveiled a new SUV version of its upcoming GMC Hummer EV.

Earlier this yr, the corporate additionally introduced a brand new all-electric business car division known as BrightDrop. It additionally introduced plans to exclusively offer electric vehicles by 2035.

The brand new autos are a part of GM’s plan to launch 30 new EVs globally by 2025 beneath a $27 billion investment in electrical and autonomous autos throughout that timeframe. By then, the corporate plans to promote not less than 1 million EVs yearly.