General Motors (GM  ) is upping the ante in the race for dominance of the electric vehicle with two new programs and hiring new workers to fill new positions within the company. GM's aggressive push for EV market dominance has driven its share price up and caused a target revision as analysts reevaluate the company's future.

GM has been rapidly accelerating its EV program over the last year or so, with the company previously stating that it intends to have a fully electric lineup in the future. At the core of the company's future is the Ultium Drive, a system of interchangeable drive units that can be installed on and swapped between any of GM's vehicles.

Now, GM is rolling out "two major programs" to further its EV ambitions. While GM hasn't provided many details on what these programs entail, the company is set to hire some 3,000 new workers to fill new vacancies created by the programs.

"The vehicles that we've announced, like the Hummer EV and the Cadillac Lyriq, we're already well on the way on those, but we want to advance the entire EV portfolio," said GM Vice President of Electric and Autonomous Programs Ken Morris.

GM's fully electric vehicle lineup, including the electric Hummer mentioned by Morris, would put the company on par with current industry leader Tesla (TSLA  ), whose entire lineup is entirely electric. GM's lineup's most promising feature will likely be its electric pickups and SUVs, given American consumers' affinity for pickups. The promise of an electric Hummer, at one point, one of the most popular SUV's on the market despite its abysmal gas mileage, and electric pickups could help GM challenge Tesla for market dominance and potentially help it outpace its contemporaries such as Ford (F  ).

The aggressive focus on EV's is already garnering positive results for GM; UBS Group (UBS  ) revised its price target for GM to $50, a considerable increase from the previous target of $34. UBS noted that GM is "fully on track and likely enjoys strong momentum well into 2021", noting its focus on EVs and voicing a belief that it will drive GM's success well into the future.