General Motors Co. has been entertaining the idea of a spin-off company dedicated to their electric vehicle projects in an effort to attract investors who are interested in electric vehicles, but weary of investing in legacy companies, reports Bloomberg. Companies dedicated mainly to electric vehicle projects seem to gain more investor attention than the legacy companies now expanding into the industry.
“Investors are telling us every day that they are willing to invest in electric vehicles,” said Emmanuel Rosner, the Deutsche Bank analyst who asked GM Chief Executive Officer Mary Barraa bout the idea of a spinoff on July 29. “But they are doing it with electric-vehicle companies, not legacy companies.”