Rich Smith/Motley Fool headline: GM’s Growth Is About More Than Just Electric Vehicles
By Rich Smith - Aug 28, 2022 at 6:53AM
https://www.fool.com/investing/2022/08/28/gms-growth-is-abou…
In 2020, GM Defense notched its first big victory, winning a $214.3 million contract to supply the Army with 649 Infantry Squad Vehicles ($330,200 per ISV) based on its own Chevrolet Colorado ZR2 midsize truck design, a contract that could triple in size over time. And this week GM set its sights on an even bigger target, announcing it would team up with Germany’s Rheinmetall to offer a new truck for the Army’s Common Tactical Truck program, which is seeking a replacement for its “Family of Heavy Tactical Vehicles” fleet.
According to the companies, the Army is seeking bids to produce approximately 5,700 heavy trucks for the military – a potential $5 billion windfall for the winner. GM and Rheinmetall will bid an “Americanized” model based on the latter’s HX3 – the HX3-CTT – featuring “an advanced, interchangeable protected cab design, advanced driver assistance systems (ADAS), and drive by wire operation [and the ability to scale in size] from 4x4 to 10x10.”