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1 week, 5 days ago

GM Calls It Quits on Mary Barra’s $50 Billion Robotaxi Dream

-- General Motors Co. Chief Executive Officer Mary Barra, clad in her signature leather jacket and masked up pandemic style, climbed into a Cruise robotaxi named Tostada for her first autonomous ride almost three years ago. Instead, Barra will merge Cruise into GM’s operations with more humble goals such as developing advanced safety systems for the vehicles it sells and, …

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GM Calls It Quits on Mary Barra’s $50 Billion Robotaxi Dream

Live Mint

-- General Motors Co. Chief Executive Officer Mary Barra, clad in her signature leather jacket and masked up pandemic style, climbed into a Cruise robotaxi named Tostada for her first autonomous ride almost three years ago. Instead, Barra will merge Cruise into GM’s operations with more humble goals such as developing advanced safety systems for the vehicles it sells and, …

Business Tesla Company Honda Billion Cruise Waymo

3 weeks ago

GM is struggling so much in China, it had to announce massive charges to fix its business

CNN

Reuters — China, once GM’s largest and most important market, has become its biggest problem. General Motors told shareholders on Wednesday that it would record two non-cash charges totaling more than $5 billion on its joint venture in China, one related to the restructuring of the operation and another reflecting its reduced value. The company’s board of directors determined that …

China Joint Venture Barra Saic

5 months ago

GM Tops Profit Estimates, Raises Forecast on Truck Demand

Live Mint

-- General Motors Co.’s profit surged 60% from a year ago, easily beating Wall Street’s expectations on strong demand for gas-powered trucks in the US. The automaker’s stronger-than-expected performance comes mostly from its US business, where demand for pickup trucks and SUVs — along with a slowdown in sales growth of electric vehicles that lose money at current volumes — …

Company Share This Year Billion Million Bloomberg Cruise

10 months, 3 weeks ago

GM made $10B last year despite autoworkers strike, says it will bring back plug-in hybrids to US

Associated Press

DETROIT — General Motors’ net income rose 12% last year despite losing more than $1 billion when many of its plants were shut down by a six-week autoworkers’ strike. Chief Financial Officer Paul Jacobson told reporters that GM is preparing for a 2% to 2.5% average sales price drop on vehicles this year compared to last year as inventory grows …

Vehicles Electric Vehicles Company Billion Vehicle Electric Last Year

1 year ago

GM’s Cruise robotaxi service faces fine in alleged cover-up of San Francisco accident’s severity

Associated Press

California regulators are alleging a San Francisco robotaxi service owned by General Motors covered up the severity of an accident involving one of its driverless cars, raising the specter they may add a fine to the recent suspension of its California license. The potential penalty facing GM’s Cruise service could be around $1.5 million, based on documents filed late last …

Accident San Francisco California Oct Robotaxi Barra Cruise Service

1 year, 2 months ago

Strikes trim profit at GM in an otherwise strong quarter; more losses likely if picketing spreads

Associated Press

DETROIT — A strike by auto workers against General Motors is expected to cut pretax earnings by $800 million this year, and another $200 million per week after that, the company’s chief financial officer said. The company also withdrew its previous full-year pretax earnings estimates, citing uncertainty over the length of the strike and how many factories would be shut …

Vehicles Strike Detroit Company Profit This Year Billion

1 year, 5 months ago

General Motors Q2 profit up 52% on strong sales, company confirms new Chevy Bolt EV is coming

Associated Press

DETROIT — Despite taking on a huge chunk of an expensive electric vehicle recall, General Motors posted $2.54 billion in second-quarter net income, a 52% increase over a year ago. Also pushing up the guidance was another $1 billion in cost savings that Jacobson said GM had found, on top of $2 billion the company promised earlier for the full …

Electric Vehicles Detroit Company Cost Billion Bolt Jacobson

1 year, 6 months ago

General Motors follows Ford, embraces Tesla's EV charging network

Hindustan Times

General Motors Co. will adapt its electric vehicles to Tesla Inc.’s Superchargers, following Ford Motor Co.’s lead and all but ensuring it will become an industry standard in the US. “Not only will it help make the transition to electric vehicles more seamless for our customers, but it could help move the industry toward a single North American charging standard.” …

Tesla Network Ford Barra Ev Charging Gm Ev

1 year, 6 months ago

GM’s electric vehicles will gain access to Tesla’s vast charging network

Associated Press

DETROIT — Electric vehicles made by General Motors will be able to use much of Tesla’s extensive charging network beginning early next year. Their discussion comes two weeks after Ford CEO Jim Farley joined Musk to announce that Ford’s electric vehicles would gain access to much of Tesla’s EV-charging network, the largest in the nation. “The most important thing is …

Access Tesla Vehicles Network Electric Vehicles Owners Ford

1 year, 10 months ago

GM reaches computer chip supply deal with GlobalFoundries

Associated Press

DETROIT — With the global shortage of semiconductors still crimping U.S auto production, General Motors has signed a deal with chipmaker GlobalFoundries to dedicate part of an upstate New York factory to supply the automaker. In a joint statement from the companies Thursday, Malta, New York-based GlobalFoundries said it will expand production capacity inside its Malta plant exclusively for GM’s …

Supply Auto Company New York Chip Barra Chips

1 year, 11 months ago

Former GM workers in India sue company, CEO Barra for unpaid dues: Report

Hindustan Times

A union in India has sued General Motors' local unit and its global CEO for failing to pay court-ordered compensation to sacked factory workers, deepening the U.S. automaker's struggles to exit the country years after it shuttered local operations. A GM spokesperson said the company remains "very confident" of its legal position General Motors stopped selling cars in India in …

India Court Workers Union Company Motor General Motors

2 years ago

Workers at GM joint venture battery plant vote to join UAW

Associated Press

DETROIT — Workers at a General Motors joint venture electric vehicle battery factory in Ohio have voted to join the United Auto Workers union. “The vote shows that they want to be part of maintaining the high standards and wages that UAW members have built in the auto industry,” union President Ray Curry said in a statement. The union will …

Battery Workers Union Detroit Ohio Plant Warren

2 years, 1 month ago

GM CEO Barra says electric vehicles to be profitable by 2025

Associated Press

General Motors says it expects its portfolio of electric vehicles to turn a profit in North America by 2025 as it boosts battery and assembly plant capacity to build over 1 million EVs per year. As for the new vehicles, GM will roll out an all-electric version of the Chevrolet Corvette next year, President Mark Reuss said. For electric vehicles …

Tesla Electric Vehicles Suv Reuss Jacobson Barra Chevrolet Electric

2 years, 1 month ago

GM sidesteps economic headwinds; Q3 profit jumps nearly 37%

Associated Press

DETROIT — General Motors’ third-quarter net profit rose 36.6% as vehicle sales began to rebound from persistent supply chain troubles. Chief Financial Officer Paul Jacobson said the company isn’t seeing any sign that demand for new vehicles is slowing despite higher interest rates and inflation. Auto prices, he said, may have to drop “as consumers become more focused on their …

Company Billion Million Other Parts Jacobson Barra Chips

2 years, 5 months ago

The AP Interview: GM’s Barra talks electric vehicles, future

Associated Press

NEW YORK — The economy is a bit wobbly, but General Motors CEO Mary Barra isn’t backing off of an audacious prediction: By the middle of this decade, her company will sell more electric vehicles in the U.S. than Tesla, the global sales leader. But in an interview with The Associated Press, Barra said she’s confident GM can unseat Tesla …

Tesla Vehicles Electric Vehicles Company Vehicle Electric Evs

2 years, 7 months ago

GM’s $2.94B 1Q profit tops Street views, but revenue misses

Associated Press

LOS ANGELES — General Motors’ net income declined in the first quarter, as the automaker sold fewer cars and trucks worldwide, although higher prices helped boost revenue, especially in North America. GM late Tuesday reported net income of $2.94 billion, or $1.35 per share, versus a profit of $3.02 billion, or $2.03 per share, in the same quarter last year. …

Vehicles Barra Quarter Versus

3 years, 2 months ago

GM sets to double revenue, lead US in electric vehicle sales

Associated Press

WARREN, Mich. — General Motors plans to cash in as the world switches from combustion engines to battery power, promising to double its annual revenue by 2030 with an array of new electric vehicles, profitable gas-powered cars and trucks, and services such as an electronic driving system that can handle most tasks on the road. The company also teased upcoming …

Tesla Vehicles Electric Vehicles Company Revenue Billion Vehicle

3 years, 6 months ago

GM, Ford outdo each other with electric vehicle investments

Associated Press

DETROIT — General Motors will raise spending on electric and autonomous vehicles and add two U.S. battery factories as it gambles that consumers will eagerly switch from gasoline to the new technology. The announcements Wednesday came as crosstown rival Ford said its entire Lincoln luxury brand lineup would be electric or gas-electric hybrid by 2030, including four fully electric vehicles. …

Vehicles Electric Vehicles Billion Vehicle Electric Ford Lincoln

3 years, 6 months ago

GM to boost spending on electric vehicles

The Hindu

General Motors Co will boost global spending on electric and autonomous vehicles to $35 billion through 2025, a 30% jump over its most recent forecast as it pursues EV leadership, people briefed on the matter told Reuters. In addition, GM Chief Executive Mary Barra is scheduled to meet on Wednesday with U.S. House Speaker Nancy Pelosi and other key Democrats …

Battery Democrats Billion Barra Boost Spending

4 years, 1 month ago

GM flips to California’s side in pollution fight against Trump

LA Times

General Motors Chairman Mary Barra in July 2019. GM says it will no longer support the Trump administration’s legal efforts to end California’s right to set its own clean-air standards. General Motors Co. is switching sides in the legal fight against California’s right to set its own clean-air standards, abandoning the Trump administration as the president’s term nears its close. …

Economy Trump Administration California Biden Obama Standards

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GM Calls It Quits on Mary Barra’s $50 Billion Robotaxi Dream

GM Calls It Quits on Mary Barra’s $50 Billion Robotaxi Dream

GM is struggling so much in China, it had to announce massive charges to fix its business

GM Tops Profit Estimates, Raises Forecast on Truck Demand

GM made $10B last year despite autoworkers strike, says it will bring back plug-in hybrids to US

GM’s Cruise robotaxi service faces fine in alleged cover-up of San Francisco accident’s severity

Strikes trim profit at GM in an otherwise strong quarter; more losses likely if picketing spreads

General Motors Q2 profit up 52% on strong sales, company confirms new Chevy Bolt EV is coming

General Motors follows Ford, embraces Tesla's EV charging network

GM’s electric vehicles will gain access to Tesla’s vast charging network

GM reaches computer chip supply deal with GlobalFoundries

Former GM workers in India sue company, CEO Barra for unpaid dues: Report

Workers at GM joint venture battery plant vote to join UAW

GM CEO Barra says electric vehicles to be profitable by 2025

GM sidesteps economic headwinds; Q3 profit jumps nearly 37%

The AP Interview: GM’s Barra talks electric vehicles, future

GM’s $2.94B 1Q profit tops Street views, but revenue misses

GM sets to double revenue, lead US in electric vehicle sales

GM, Ford outdo each other with electric vehicle investments

GM to boost spending on electric vehicles

GM flips to California’s side in pollution fight against Trump