When it comes to achieving market-beating, multi-bagger returns, many investors think they can only be achieved by investing in a disruptive startup or other newer, high-growth businesses. But in this Fool Live video clip, recorded on July 2, Fool.com contributor Matt Frankel, CFP, explains to Chief Growth Officer Anand Chokkavelu why the long-established company General Motors (NYSE:GM) could be a massively underappreciated opportunity.

Matt Frankel: I think this is not only one of the most underappreciated opportunities in the EV space but one of the most underappreciated stocks in the entire market. They're aggressively investing in EV technology, they just announced they're upping their EV spend from $27 billion to $35 billion by 2025. They are planning to attack this from all sides, not just passenger electric vehicles, delivery vehicles, air transport, commercial vehicles, the excavators you see when you're driving past construction zones could be GM electric vehicles. They are the majority owner of Cruise, and if you see all these other automakers trying to buy into Cruise, just buying little pieces of it, there is so much value potential there. They estimate that the autonomous driving market is a $7 trillion worldwide opportunity. When you include things like an automated version of Uber (NYSE:UBER), like automated ride-hailing services. All the ride-hailing services in the world alone are worth several hundred billions of dollars today. It's a huge opportunity, the stock trades for I think one-tenth of Tesla's (NASDAQ:TSLA) valuation. I think GM could be a 10-bagger within the decade and I know I'm very unique in feeling that way. I'm 40 now, I'm going to come back when I'm 50 and tell you, "Okay, boomer" crowd that I told you so.

Anand Chokkavelu: Yeah. For the arguments for GM, it has been interesting, it's like that Bed Bath & Beyond (NASDAQ:BBBY) for me where I'm like, okay, well, this is for me personally, just like you with your investing style buying into CrowdStrike (NASDAQ:CRWD), is it's valued so high given what your strategy is. For me, with GM, given my strategy is like there's a little there and then also frankly, the EV space just scares me with the amount of competition as everyone's getting up to speed in it when it's not Tesla. If Tesla were to somehow freefall, I'd probably get back in again at some point because I should've never gotten out. GM, there's a lot of good things. Just, again, like the Bed Bath & Beyond management, where I'm like, the management seems to be doing the right thing, Mary Barra seems to be just really pushing them where they need to be going but I'm like, well, GM, Cruise, but like okay, versus Ford (NYSE:F) versus Volvo (OTC: VOLVY) going fully electric versus Tesla versus whatever Toyota (NYSE:TM) does and Volkswagen (OTC:VWAGY). Then I'm like, well, I'm right back into buying car manufacturers?

Frankel: I think all the EV investors, not necessarily saying you, but a lot of EV investors really are overlooking the brand loyalty that some of these legacy automakers have. If they made an electric Silverado, people who drive a Chevy Silverado would never buy the Cybertruck. People, especially in the truck market, it's a extremely loyal market. I have friends who drive F-150s, who wouldn't drive a Dodge Ram if it was free. They're not going to go buy the Cybertruck, they're not going to go buy from one of these electric EV startups. They're going to buy what they know. The F-150 that we just mentioned Ford, the F-150 Lightning that they are putting out is going to be a massive success. Massive. I just like GM's focus on the autonomous and the commercial operations specifically. Ford is doing a great job when it comes to electrifying its top sellers, which I mean the F-150 is the top-selling vehicle in the country. If they could even translate one-tenth of that electric success, initially, that would be a huge milestone. But I just love GM's all-around approach is where I see them differentiated from Ford.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.