Why General Motors' Shares Jumped on Monday

Shares of General Motors (NYSE: GM) jumped on Monday, after the Detroit auto giant announced that it had an expanded electric-vehicle development program well underway. GM said that it will launch at least 20 all-electric vehicles by 2023, with the first two coming soon.

As of 3 pm EDT, GM's shares were trading at $42.19, up about 4.5% from Friday's close.

Recent announcements of major electric-vehicle programs at several of GM's big global rivals, most notably Volkswagen AG, had left investors wondering: How and when would GM follow up its well-regarded Chevrolet Bolt EV?

Source: Fool.com