Business, Technology

Trevor Milton Plans to Remain Top Nikola Owner Post-Lockup Expiration

Trevor Milton said he remains committed to his Nikola Corp. holding and doesn’t plan to relinquish his position as its largest shareholder even though a restriction has been lifted, addressing speculation that he could divest of his stake in the company he founded and resigned from.

David Welch | Bloomberg News
December 8, 2020
Business, Technology, Autonomous

GM’s Cruise, Walmart Team Up for Driverless Delivery

Walmart Inc. is about to team up with Cruise, the self-driving car unit majority-owned by General Motors Co., to experiment with delivering customer orders using driverless vehicles.

David Welch | Bloomberg News
November 10, 2020
Business, Technology, Fuel, Autonomous

General Motors Plans 3,000 Hires for EV Development

General Motors Co. is going on a hiring binge to accelerate its development of electric vehicles.

David Welch | Bloomberg News
November 9, 2020
Business, Technology, Fuel

GM to Plan Third EV Plant in Big Plug-In Bet

General Motors Co. is investing more than $2 billion in six U.S. plants, including a makeover of a former Saturn plant in Tennessee into its third factory to produce electric models.

David Welch | Bloomberg News
October 20, 2020
Business, Technology, Fuel

GM Considers Boosting Stake in Nikola in Reworked Deal

General Motors Co. is considering revisions to its deal with embattled Nikola Corp., according to people familiar with the discussions, and may seek a higher stake in the startup now that its valuation has fallen after allegations of deception.

David Welch | Bloomberg News
October 2, 2020
Government, Business, Technology, Logistics

GM CEO Mary Barra to Meet With Ivanka Trump at Job Training Site

General Motors Co. CEO Mary Barra will meet Sept. 2 with President Donald Trump’s daughter and adviser, Ivanka Trump, who is scheduled to tour the automaker’s training center north of Detroit.

David Welch | Bloomberg News
September 2, 2020
Business

GM’s CFO Resigns to Join Fintech Startup Stripe

General Motors Co.’s chief financial officer is stepping down after two years to take a job at a financial technology company in an unexpected move prompting the automaker to appoint an acting successor.

David Welch | Bloomberg News
August 11, 2020
Business

Hertz Seeks Bankruptcy Loan as Car Rental Volume Slowly Recovers

Hertz Global Holdings Inc. is seeking debtor-in-possession financing more than two months after filing for Chapter 11 protection, reflecting the reality that it still faces trouble ahead if travel doesn’t bounce back.

David Welch | Bloomberg News
August 11, 2020
Business, Technology, Fuel

GM to Build Nationwide EV Charging Network

General Motors Co. is working with electric-vehicle charging operator EVgo Services to build a nationwide fast-charging infrastructure.

David Welch | Bloomberg News
July 31, 2020
Government, Business

Hertz Halts Plan to Sell ‘Worthless’ Stock on SEC Scrutiny

Hertz suspended plans to raise cash by selling new shares that the bankrupt car renter described as potentially “worthless” after its proposal failed to pass muster with regulators.

David Welch | Bloomberg News
June 17, 2020