The electric vehicle maker has been under scrutiny since a short-seller accused it of misleading investors about its technology.
"GM is benefiting from robust customer demand for our new vehicles and services, especially our full-size pickups and SUVs."
“Jacobson is an important hire for GM as it enters into new ventures and continues to restructure its business operations toward all-electric vehicles."
The deal will enable GM to deploy its Ultium electric battery system and Hydrotec fuel cells in pickups and big rigs.
The electric pickup truck maker joins a growing number of companies that have gone public through mergers with special purpose acquisition companies.
The automaker sees stronger sales ahead with its plants now back in production after coronavirus-related shutdowns.
The automaker was awarded $60 million in credits before it closed its Lordstown, Ohio, plant.
“We believe that we’re positioned well to manage through this because we’ve taken swift actions to preserve liquidity,” CFO Dhivya Suryadevara says.
The automaker cited a parts shortage due to the strike as the reason for the plant closure.
The moves are part of GM's effort to position itself for a future of electric and autonomous vehicles.
The automaker raised vehicle prices in the U.S. to a record average of more than $36,000, offsetting declining sales volumes across every brand.
The carmakers' earnings forecast is dented by the Trump administration's steel and aluminum tariffs as well as unfavorable foreign exchange rates.
