Automakers are starting to look more like tech companies and Wall Street is taking notice

As automakers begin making heavy investments into electric vehicles and autonomous driving, investors are starting to treat them more like startups than industrial giants. 

Electric-car pioneer Tesla has long been viewed as a technology company, and its stock price has been supported by continued superiority in battery costs, software, and the profitability of its electric cars.

But now, bigger automakers, including General Motors, are starting to be seen in a similar light as they commit to building battery factories.

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