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The Ratings Game: GM plan is good for GM—and it could shake up things at Tesla and Ford too

General Motors Co.’s newly announced cost-cutting plan has drawn praise on Wall Street, with analysts applauding the car maker for sharpening its focus on higher-growth areas such as driverless and electric vehicles and forestalling a slowdown in its business.

Some analysts said there are implications for Ford Motor Co. F, -1.38% and Tesla Inc. TSLA, -0.10% including the possibility that Tesla could pounce on an idled GM plant as the Silicon Valley car maker expands its car offerings.

GM GM, -2.87% on Monday unveiled a sweeping restructuring road map that includes closing plants, laying off about 15% of its workforce, and streamlining its vehicle lineup in the next few years.

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