Activist investors Engine No. 1 take stake in GM - report

Monday, 04. October 2021 14:29

Activist investment group Engine No. 1 will reveal on Monday its stake in General Motors Co., the New York Times reported. The group got three of its members on the Exxon Mobil board earlier this year as it vowed to ensure the fossil fuel company "can commit to emission reduction targets."

According to the report, Engine No. 1 intends to support the automaker in its plan to expand electric vehicle production. It allegedly suggests GM "merits a higher valuation because of its scale and commitment to electric cars."

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