Business, Technology, Equipment, Autonomous

Cruise CEO Dan Ammann Abruptly Leaves

Dan Ammann has abruptly left the CEO role at Cruise, the autonomous driving unit that is majority owned by General Motors.

David Welch | Bloomberg News
December 17, 2021
Business, Technology, Fuel

GM Plots Mass-Market EV Push

General Motors Co. has talked up its electric vehicle plans for years, and even generated buzz by resurrecting Hummer’s gas-guzzling name in the form of an electric pickup truck. Now comes the tough part: selling mass-market EVs.

David Welch | Bloomberg News
December 16, 2021
Business, Technology, Equipment, Safety, Fuel

Electric Vehicles Rank Low in Consumer Reports Reliability Study

Electric vehicles fare poorly in the latest reliability study from Consumer Reports, with Tesla Inc. and its battery-powered lineup finishing second-to-last for the second straight year. Only Ford Motor Co.’s Lincoln division was worse, the publisher said Nov. 18.

David Welch | Bloomberg News
November 18, 2021
Business, Fuel

GM Beats Estimates, Sees 2021 Profit at ‘High End’ of Guidance

General Motors Co. beat analysts’ consensus estimate for the latest quarter thanks to strong performance from its financial unit and a one-time gain, and said full-year results would come in at the “high end” of its previous guidance.

David Welch | Bloomberg News
October 27, 2021
Business, Equipment, Safety, Fuel

GM Gets LG to Cover $1.9 Billion in Bolt EV Recall Costs

General Motors Co. said it reached an agreement with partner LG Electronics Inc. to recover from the South Korean company $1.9 billion of the $2 billion in costs for a recall of batteries in its Chevrolet Bolt electric vehicle.

David Welch | Bloomberg News
October 12, 2021
Business, Technology, Autonomous

GM-Backed Cruise Sees Autonomous Unit Growing Past $50 Billion

Cruise, the autonomous vehicle startup majority-owned by General Motors Co., will tell investors this week that it sees a path for its ride-hailing business to reach $50 billion in revenue as the company ramps up over the next couple of years, people familiar with the matter said. GM’s shares jumped.

David Welch | Bloomberg News
October 4, 2021
Business, Technology, Logistics

Lordstown to Sell Ohio Plant to Foxconn in $280 Million Deal

Lordstown Motors Corp. agreed to partner with Foxconn Technology Group in a $280 million deal that has the startup selling its former General Motors Co. factory in Ohio to the Taiwanese company in exchange for cash and an equity investment.

David Welch | Bloomberg News
September 30, 2021
Business, Technology, Fuel, Logistics

GM, Wabtec Agree to Make Electric and Hydrogen-Powered Trains

General Motors Co. and Wabtec Corp. have signed a nonbinding agreement to build locomotive engines using the automaker’s Ultium electric battery and its Hydrotec hydrogen fuel-cell system, the companies said June 15.

David Welch | Bloomberg News
June 15, 2021
Government, Business, Technology, Fuel

Lordstown Motors Reveals Cash Crisis

Lordstown Motors Inc., an electric-vehicle startup that recently went public, said it may not have the cash to get its debut pickup truck to market — and might not last as a company in the next 12 months if it can’t raise more capital.

David Welch | Bloomberg News
June 8, 2021
Business, Technology, Logistics

GM to Beat Profit Targets as Truck Plants Ramp Up

General Motors Co. will boost output at two truck plants, allowing the company to beat its first-half forecast of $5.5 billion in profit and to hit the high end of its full-year target of around $11 billion.

David Welch | Bloomberg News
June 3, 2021