General Motors (GM) Partners With Anduril for Defense Program
GM Defense LLC, General Motors’ GM unit, announced a partnership with Anduril Industries, Inc. to collaborate on a defense program. The deal will focus on delivering autonomy solutions, battery electrification and other new propulsion technologies, and integrating the full range of Anduril technologies into GM Defense mobility solutions.
GM Defense has a strong track record as an alternative power solution provider. It is working on hybrid and electric vehicles for the U.S. armed services. Anduril’s area of focus includes artificial intelligence and autonomous and integrated defense systems.
Both companies are showcasing variations of the proven and fielded Infantry Squad Vehicle (“ISV”) at the Association of the U.S. Army tradeshow. At the GM Defense booth, a four-seat ISV was equipped with Anduril-made loitering munitions, while at Anduril’s booth, a nine-seat ISV was equipped with the company’s Lattice platform.
Steve duMont, president of GM Defense, said that both GM Defense and Anduril focus on bringing disruptive new technologies to meet the evolving needs of customers.
GM Defense has formed a few partnerships within the defense industry. It teamed up with General Dynamics Land Systems on the XM30 Mechanized Infantry Combat Vehicle program to compete with the American Rheinmetall Vehicles team, which includes Anduril.
Recently, GM Defense also signed a Memorandum of Understanding with NP Aerospace to collaborate on research and development, post-production assistance and global logistics and maintenance for integrated vehicles, power and propulsion systems, autonomy and connectivity, fuel cell technology, power generation, system integration and platform integration.
Zacks Rank & Key Picks
GM currently carries a Zacks Rank #4 (Sell).
Some top-ranked players in the auto space are Magna International Inc. MGA, Adient plc ADNT and Nikola Corporation NKLA. While MGA and ADNT sport a Zacks Rank #1 (Strong Buy), NKLA carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MGA’s 2023 sales and earnings implies year-over-year growth of 13% and 31.2%, respectively. The EPS estimate for 2023 has moved north by 8 cents in the past 60 days. The EPS estimate for 2024 has moved up by 14 cents in the past 90 days.
The Zacks Consensus Estimate for ADNT’s 2023 sales and earnings indicates year-over-year rises of 9.1% and 1,790.9%, respectively. The EPS estimates for 2023 and 2024 have moved up by 15 cents and 9 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for NKLA’s 2023 sales and earnings implies year-over-year growth of 92.3% and 36%, respectively. The EPS estimate for 2023 has moved north by 7 cents in the past 60 days. The EPS estimate for 2024 has moved up by a cent in the past 30 days.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Magna International Inc. (MGA) : Free Stock Analysis Report
General Motors Company (GM) : Free Stock Analysis Report
Adient (ADNT) : Free Stock Analysis Report
Nikola Corporation (NKLA) : Free Stock Analysis Report
