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Tesla Model 3. Photo: Smith Collection/Gado/Getty Images

While Tesla shares went into Ludicrous Mode this week, GM executives were on Wall Street pitching investors on their own vision of an electric, self-driving future. But as Bloomberg notes, the market isn't buying.

Why it matters: GM may be investing billions to transform its business for the future, but to many investors, Tesla's lead in the fledgling electric vehicle market is seen as insurmountable.

Catch up quick: During a four-hour presentation Wednesday, GM laid out an aggressive plan to extend its EV lineup and expand availability of its Super Cruise driver-assistance technology.

  • GM President Mark Reuss highlighted the versatility of GM's new electric-vehicle architecture, which can be scaled up or down to make everything from compact cars to big trucks and SUVs.
  • In all, GM plans 20 different EVs by 2023. So far, it's described a Hummer EV truck, a Cadillac crossover and a ride-sharing shuttle, the Cruise Origin.
  • GM plans to unveil more details about its EV strategy on March 4.
  • Reuss also said 22 GM models will have Super Cruise by 2023, including its full-size pickups and SUVs.

But it's not easy chasing Tesla, which sparked the market for EVs a decade ago and later convinced many that cars could drive themselves on Autopilot (even though it's not true).

  • Bloomberg sums it up: "While GM and others are racing to put out models that can match Tesla's lineup, Elon Musk's company still has the iPhone of electric cars and no one has come up with the EV equivalent of an Android to defeat them."

Go deeper:

Go deeper

Texas early voting surpasses 2016's total turnout

Early voting in Austin earlier this month. Photo: Sergio Flores/Getty Images

Texas' early and mail-in voting totals for the 2020 election have surpassed the state's total voter turnout in 2016, with 9,009,850 ballots already cast compared to 8,969,226 in the last presidential cycle.

Why it matters: The state's 38 Electoral College votes are in play — and could deliver a knockout blow for Joe Biden over President Trump — despite the fact that it hasn't backed a Democrat for president since 1976.

Wall Street braces for more turbulence ahead of Election Day

Illustration: Eniola Odetunde/Axios

Wall Street is digging in for a potentially rocky period as Election Day gets closer.

Why it matters: Investors are facing a "three-headed monster," Brian Belski, chief investment strategist at BMO Capital Markets, tells Axios — a worsening pandemic, an economic stimulus package in limbo, and an imminent election.

Dave Lawler, author of World
4 hours ago - World

How Biden might tackle the Iran deal

Photo illustration: Aïda Amer/Axios. Photo: Drew Angerer/Getty Images

Four more years of President Trump would almost certainly kill the Iran nuclear deal — but the election of Joe Biden wouldn’t necessarily save it.

The big picture: Rescuing the 2015 Joint Comprehensive Plan of Action (JCPOA) is near the top of Biden's foreign policy priority list. He says he'd re-enter the deal once Iran returns to compliance, and use it as the basis on which to negotiate a broader and longer-lasting deal with Iran.