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Coming in 2022: the electric Cadillac LYRIQ. Photo: GM

Wall Street still views General Motors as yesterday's news, so one way for GM to get credit for its in-house capability is to spin off its electric vehicle operations as a stand-alone business.

Why it matters: Pure plays on electric vehicles are all the rage among investors — just look at Tesla's valuation.

Driving the news: GM on Thursday unveiled the Cadillac LYRIQ show car, a luxury crossover SUV that will be among the first based on GM's new modular electric vehicle platform and Ultium battery propulsion system.

  • It's among 20 EVs that GM plans to launch by 2023, including a reborn Hummer electric vehicle.

Context: The reveal came just a week after GM CEO Mary Barra opened the door to a potential electric vehicle spinoff in response to a question during a call with investment analysts.

  • "We are open to looking at and evaluate anything that we think is going to drive long-term shareholder value," she said, adding that "nothing is off the table."
  • In fact, GM had already floated the idea internally back in 2018, according to Bloomberg.
  • Today, the motivation looks even stronger with aspiring electric vehicle makers like Nikola, Fisker and Rivian attracting vast amounts of capital in both the public and private markets.

Yes, but: The downside is that if GM does lop off its electric vehicle business as a standalone entity, its core manufacturing business could look even less attractive to investors.

Go deeper

Oct 30, 2020 - Economy & Business

How Trump and Biden would steer the future of transportation

Illustration: Eniola Odetunde/Axios

President Donald Trump and Democratic challenger Joe Biden would likely steer automotive policy in different directions over the next four years, potentially changing the industry's road map to the future.

Why it matters: The auto industry is on the cusp of historic technological changes and the next president — as well as the next Congress — could have an extraordinary influence on how the future of transportation plays out.

Ubisoft admits its handling of misconduct lost some workers' trust

Photo illustration: Axios Visuals. Photos: Ubisoft, IGDB

Ubisoft management is acknowledging that its initial response to an ongoing and wide-reaching workplace misconduct scandal was flawed, even as it argues that its corrective actions were largely swift and correct.

Why it matters: Those comments, in an exclusive interview with Axios, come amid recent pushback from workers that the publisher of Assassin’s Creed and Just Dance hasn’t sufficiently addressed a cascade of #MeToo allegations since mid-2020.

Prosecutors “haven’t ruled out” charging school officials in Michigan shooting

Michigan school officials had the legal grounds to search alleged shooter Ethan Crumbley's backpack and locker but did not to do so, Oakland County Prosecutor Karen McDonald told CNN Monday.

Catch up quick: Crumbley has been charged with numerous felony counts related to terrorism and murder after opening fire at Oxford High School, killing four students and wounding seven other people.