Forge Nano secures $40M to scale U.S. battery manufacturing
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2025
0mins
Should l Buy GM?
Funding Announcement: Forge Nano has successfully secured $40 million in new funding, co-led by RockCreek and Ascent Funds, with participation from other investors including Top Material and Orion Infrastructure Capital.
Total Investment: This latest funding round brings Forge Nano's total capital investment to over $140 million, adding RockCreek to an impressive list of existing shareholders that includes major companies like GM Ventures and Volkswagen.
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Analyst Views on GM
Wall Street analysts forecast GM stock price to rise
19 Analyst Rating
14 Buy
4 Hold
1 Sell
Moderate Buy
Current: 83.670
Low
57.00
Averages
95.06
High
122.00
Current: 83.670
Low
57.00
Averages
95.06
High
122.00
About GM
General Motors Company designs, builds and sells trucks, crossovers, cars and automobile parts and provides software-enabled services and subscriptions worldwide. The Company's segments include GMNA, GMI, Cruise and GM Financial. Its GM North America (GMNA) and GM International (GMI) develop, manufacture and/or markets vehicles under the Buick, Cadillac, Chevrolet and GMC brands. The Company provides automotive financing services through its General Motors Financial Company, Inc. (GM Financial) segment. Its Cruise segment is engaged in the development and commercialization of autonomous vehicle technology. Its software-enabled services and subscriptions, including OnStar, its advanced driver-assistance systems (ADAS), including Super Cruise driver assistance technology, and its end-to-end software platform. The Company is also focused on investing in electric vehicles (EVs) and AVs, software-enabled services and subscriptions and new business opportunities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
GM Invests C$63 Million in Oshawa for Truck Production
- Continued Investment: GM's total investment in Oshawa has reached C$1.5 billion since 2020, including the recent C$63 million announced for upgrading stamping operations, reinforcing its significance in the full-size truck portfolio.
- Production Capacity Enhancement: This investment will support preparations for the next generation of gas-powered full-size pickups while enhancing capabilities in the service parts business, ensuring Oshawa Assembly meets customer demands in the coming years.
- Unique Production Line: Oshawa Assembly is GM's only North American facility producing both light and heavy-duty full-size pickups on the same line, currently operating on two shifts, highlighting its critical role in the company's overall production strategy.
- Future Outlook: GM plans to share product details and launch timing for the next-generation pickups in the future, indicating the company's long-term commitment to the Oshawa facility and its keen insight into market demands.
See More
Supreme Court May Rule on Trump's Tariff Legality
- Consumer Impact of Tariffs: The current average effective tariff rate in the U.S. stands at 16.9%, the highest since 1932, with projections indicating that consumers will pay an additional $1,300 to $1,700 in 2026, significantly increasing household economic burdens.
- Potential Legal Changes: Should the Supreme Court rule IEEPA tariffs unconstitutional, the consumer burden could be halved to between $600 and $800, providing some economic relief for families and influencing future spending patterns.
- Tariff Revenue Analysis: U.S. Customs and Border Protection collected approximately $133.5 billion in tariff revenue in fiscal year 2025, accounting for 60% of total tariff revenue during that period, highlighting the significant impact of tariff policies on government finances.
- Alternative Tariff Pathways: The Trump administration may resort to other legal frameworks to continue imposing tariffs, and economists note that even if IEEPA is overturned, this will limit potential consumer relief while maintaining high tariff burdens.
See More
New York State Withdraws Commercial Robotaxi Proposal
- Proposal Withdrawal Impact: New York Governor Hochul's withdrawal of the commercial robotaxi proposal significantly impacts Waymo, which plans to expand its services to several new cities, indicating a lack of support for autonomous vehicle technology in the state.
- Market Potential Limited: The proposal aimed to allow limited deployment of robotaxis outside New York City, but opposition from labor unions and transit workers prevented it from gaining necessary support, restricting Waymo's market expansion opportunities in New York.
- Testing Permit Unaffected: Despite the proposal's withdrawal, Waymo's testing in New York City will continue, having received a permit from the Department of Transportation, indicating that the company's long-term strategy in the region remains intact.
- Intensifying Competition: Waymo plans to launch its commercial driverless ride-hailing service in cities like Dallas, Denver, and Washington D.C., but faces increasing pressure from competitors such as Tesla and Amazon-owned Zoox, intensifying market competition.
See More
Ford Shifts Focus to Hybrid Vehicles Amid EV Challenges
- Hybrid Profitability Surge: Ford CEO Jim Farley highlighted that some of Ford's hybrid models have become profitable, with increasing customer demand indicating a sustainable path for the company amid its electric vehicle transition challenges.
- Significant Sales Growth: In 2025, Ford sold over 228,000 hybrids in the U.S., marking a nearly 22% increase year-over-year, which not only set a quarterly and annual sales record for Ford but also solidified the F-150 hybrid's status as America's best-selling full-size hybrid pickup.
- Decline in EV Market Share: Despite the strong performance of hybrids, Ford's full EV sales fell by 14% in 2025 and plummeted 52% in Q4, primarily due to the loss of the $7,500 federal EV tax credit, highlighting challenges in the electric vehicle market.
- Future Strategic Planning: Ford is not abandoning the EV market but plans to introduce a new Universal EV Platform and a midsize electric pickup in 2027, demonstrating the company's long-term commitment to electric vehicles, even as it shifts focus to hybrids for immediate profitability.
See More
Ford's Hybrid Sales Hit Record Highs Amid EV Strategy Shift
- Hybrid Profitability Surge: Ford CEO Jim Farley noted that in 2024, some of Ford's hybrid models became more profitable than their gasoline counterparts, indicating a positive shift in consumer preference towards these transitional solutions, which is expected to enhance the company's financial performance.
- Record Sales Performance: In 2025, Ford sold over 228,000 hybrids in the U.S., marking a nearly 22% increase year-over-year, setting both fourth-quarter and full-year sales records, while the F-150 hybrid maintained its status as America's best-selling full-size hybrid pickup, reflecting strong market demand.
- EV Market Challenges: Despite the robust hybrid sales, Ford's full EV sales declined by 14% in 2025 and plummeted 52% in Q4, primarily due to the loss of the $7,500 federal EV tax credit, highlighting the complexities of the market transition.
- Future EV Strategy: Ford is not abandoning the EV market but plans to launch a new Universal EV Platform and a midsize electric pickup in 2027, demonstrating the company's long-term commitment to electric vehicles, even as hybrids remain the focus for profitability in the short term.
See More
Trump Administration Rescinds EV Incentive Rule
- Policy Rescission Impact: The Trump administration's Department of Energy has rescinded a rule that incentivized automakers to produce more EVs, which could further pressure the EV market already affected by the rollback of the 2009 EPA Endangerment Finding.
- Fuel Economy Calculation: The rescinded 'fuel content factor' allowed automakers to calculate fleetwide fuel economy by assigning higher efficiency figures to EVs, thus lowering overall fuel consumption metrics, and its removal will diminish the competitive edge of EVs.
- Court Ruling Basis: The DOE cited a September appeals court decision as the basis for this policy reversal, indicating that the legal environment is increasingly influencing EV policies, which may lead to more adjustments in similar regulations in the future.
- Market Reaction Expectations: With this policy change, major automakers like GM and Ford may need to reassess their EV strategies to navigate the increasingly challenging market environment and policy hurdles.
See More
GM Invests C$63 Million in Oshawa for Truck Production
- Continued Investment: GM's total investment in Oshawa has reached C$1.5 billion since 2020, including the recent C$63 million announced for upgrading stamping operations, reinforcing its significance in the full-size truck portfolio.
- Production Capacity Enhancement: This investment will support preparations for the next generation of gas-powered full-size pickups while enhancing capabilities in the service parts business, ensuring Oshawa Assembly meets customer demands in the coming years.
- Unique Production Line: Oshawa Assembly is GM's only North American facility producing both light and heavy-duty full-size pickups on the same line, currently operating on two shifts, highlighting its critical role in the company's overall production strategy.
- Future Outlook: GM plans to share product details and launch timing for the next-generation pickups in the future, indicating the company's long-term commitment to the Oshawa facility and its keen insight into market demands.
See More
Supreme Court May Rule on Trump's Tariff Legality
- Consumer Impact of Tariffs: The current average effective tariff rate in the U.S. stands at 16.9%, the highest since 1932, with projections indicating that consumers will pay an additional $1,300 to $1,700 in 2026, significantly increasing household economic burdens.
- Potential Legal Changes: Should the Supreme Court rule IEEPA tariffs unconstitutional, the consumer burden could be halved to between $600 and $800, providing some economic relief for families and influencing future spending patterns.
- Tariff Revenue Analysis: U.S. Customs and Border Protection collected approximately $133.5 billion in tariff revenue in fiscal year 2025, accounting for 60% of total tariff revenue during that period, highlighting the significant impact of tariff policies on government finances.
- Alternative Tariff Pathways: The Trump administration may resort to other legal frameworks to continue imposing tariffs, and economists note that even if IEEPA is overturned, this will limit potential consumer relief while maintaining high tariff burdens.
See More
New York State Withdraws Commercial Robotaxi Proposal
- Proposal Withdrawal Impact: New York Governor Hochul's withdrawal of the commercial robotaxi proposal significantly impacts Waymo, which plans to expand its services to several new cities, indicating a lack of support for autonomous vehicle technology in the state.
- Market Potential Limited: The proposal aimed to allow limited deployment of robotaxis outside New York City, but opposition from labor unions and transit workers prevented it from gaining necessary support, restricting Waymo's market expansion opportunities in New York.
- Testing Permit Unaffected: Despite the proposal's withdrawal, Waymo's testing in New York City will continue, having received a permit from the Department of Transportation, indicating that the company's long-term strategy in the region remains intact.
- Intensifying Competition: Waymo plans to launch its commercial driverless ride-hailing service in cities like Dallas, Denver, and Washington D.C., but faces increasing pressure from competitors such as Tesla and Amazon-owned Zoox, intensifying market competition.
See More
Ford Shifts Focus to Hybrid Vehicles Amid EV Challenges
- Hybrid Profitability Surge: Ford CEO Jim Farley highlighted that some of Ford's hybrid models have become profitable, with increasing customer demand indicating a sustainable path for the company amid its electric vehicle transition challenges.
- Significant Sales Growth: In 2025, Ford sold over 228,000 hybrids in the U.S., marking a nearly 22% increase year-over-year, which not only set a quarterly and annual sales record for Ford but also solidified the F-150 hybrid's status as America's best-selling full-size hybrid pickup.
- Decline in EV Market Share: Despite the strong performance of hybrids, Ford's full EV sales fell by 14% in 2025 and plummeted 52% in Q4, primarily due to the loss of the $7,500 federal EV tax credit, highlighting challenges in the electric vehicle market.
- Future Strategic Planning: Ford is not abandoning the EV market but plans to introduce a new Universal EV Platform and a midsize electric pickup in 2027, demonstrating the company's long-term commitment to electric vehicles, even as it shifts focus to hybrids for immediate profitability.
See More
Ford's Hybrid Sales Hit Record Highs Amid EV Strategy Shift
- Hybrid Profitability Surge: Ford CEO Jim Farley noted that in 2024, some of Ford's hybrid models became more profitable than their gasoline counterparts, indicating a positive shift in consumer preference towards these transitional solutions, which is expected to enhance the company's financial performance.
- Record Sales Performance: In 2025, Ford sold over 228,000 hybrids in the U.S., marking a nearly 22% increase year-over-year, setting both fourth-quarter and full-year sales records, while the F-150 hybrid maintained its status as America's best-selling full-size hybrid pickup, reflecting strong market demand.
- EV Market Challenges: Despite the robust hybrid sales, Ford's full EV sales declined by 14% in 2025 and plummeted 52% in Q4, primarily due to the loss of the $7,500 federal EV tax credit, highlighting the complexities of the market transition.
- Future EV Strategy: Ford is not abandoning the EV market but plans to launch a new Universal EV Platform and a midsize electric pickup in 2027, demonstrating the company's long-term commitment to electric vehicles, even as hybrids remain the focus for profitability in the short term.
See More
Trump Administration Rescinds EV Incentive Rule
- Policy Rescission Impact: The Trump administration's Department of Energy has rescinded a rule that incentivized automakers to produce more EVs, which could further pressure the EV market already affected by the rollback of the 2009 EPA Endangerment Finding.
- Fuel Economy Calculation: The rescinded 'fuel content factor' allowed automakers to calculate fleetwide fuel economy by assigning higher efficiency figures to EVs, thus lowering overall fuel consumption metrics, and its removal will diminish the competitive edge of EVs.
- Court Ruling Basis: The DOE cited a September appeals court decision as the basis for this policy reversal, indicating that the legal environment is increasingly influencing EV policies, which may lead to more adjustments in similar regulations in the future.
- Market Reaction Expectations: With this policy change, major automakers like GM and Ford may need to reassess their EV strategies to navigate the increasingly challenging market environment and policy hurdles.
See More
