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Category: US Motoring Press
GM Posts Solid Profit as It Pushes to Take On Tesla in EVs
General Motors on Tuesday reported solid profits for 2022, after overcoming the computer chip shortages and softening demand that has slowed much of the auto industry last year. The company reported $9.9 billion in net income, slightly below the total from the year before, while revenue rose 23 percent to $157 billion. It sold 3.6… Continue reading GM Posts Solid Profit as It Pushes to Take On Tesla in EVs
General Motors doesn’t expect significant U.S. production of EVs until second half of year
Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs. Photo by Jeffrey Sauger for General Motors DETROIT – When General Motors launched the GMC Hummer EV… Continue reading General Motors doesn’t expect significant U.S. production of EVs until second half of year
The ‘land grab’ for lithium is just getting started with GM deal, says EV materials expert
Brine pools at the Albemarle Corp. Lithium mine in Calama, Antofagasta region, Chile, on Tuesday, July 20, 2021. Cristobal Olivares | Bloomberg | Getty Images General Motors‘ announcement on Tuesday that it plans to invest $650 million into Lithium Americas to secure access to lithium is probably the first of many such deals, according to Simon Moores,… Continue reading The ‘land grab’ for lithium is just getting started with GM deal, says EV materials expert
GM to invest $650 million in a lithium company to support its electric vehicle business
US President Joe Biden, with General Motors CEO Mary Barra, looks at a Chevrolet Silverado EV as he tours the 2022 North American International Auto Show at Huntington Place Convention Center in Detroit, Michigan on September 14, 2022. – Biden is visiting the auto show to highlight electric vehicle manufacturing. Mandel Ngan | Afp |… Continue reading GM to invest $650 million in a lithium company to support its electric vehicle business
GM smashes expectations and guides toward a strong 2023, despite margin squeeze
watch now DETROIT — General Motors handily beat Wall Street’s top- and bottom-line expectations for the fourth quarter, while forecasting another solid year of results in 2023. The strong report suggests GM is hanging onto record, or near-record, results even as the U.S. automotive industry begins to normalize after several years of record-low inventories and… Continue reading GM smashes expectations and guides toward a strong 2023, despite margin squeeze
GM says fourth battery plant ‘very much on track,’ envisions others
General Motors Co. is still planning a fourth battery plant and even more beyond that despite the reported breakup with supplier and partner LG Energy Solution. GM and LG Energy Solution through their Ultium Cells LLC joint venture initially planned to have four U.S. battery cell manufacturing plants together. Last week, the Wall Street Journal… Continue reading GM says fourth battery plant ‘very much on track,’ envisions others
US probes complaints of parts flying off of Ford Explorers
Detroit – The U.S. government’s road safety agency is investigating complaints that windshield trim panels can fly off of Ford Explorers while they’re traveling at highway speeds. The National Highway Traffic Safety Administration says it has 164 complaints about the trim pieces detaching on 2011 through 2019 Explorer SUVs. The probe covers about 1.86 million… Continue reading US probes complaints of parts flying off of Ford Explorers
Tesla investors lost $12 billion after Musk tweet, jury is told
Tesla investors lost $12 billion over 10 days as a result of Elon Musk’s famous tweet in 2018 that he had “funding secured” to take the company private, a witness testified at a trial over the CEO’s liability. Lawyers for Musk have said there are billions of dollars in damages at stake in the trial,… Continue reading Tesla investors lost $12 billion after Musk tweet, jury is told
Tesla gets Justice Department subpoena over driver-assist systems
The U.S. Justice Department has requested documents from Tesla Inc. related to its Autopilot and “Full Self-Driving” features, according to a regulatory filing. “To our knowledge no government agency in any ongoing investigation has concluded that any wrongdoing occurred,” Tesla said in the filing Tuesday with the Securities and Exchange Commission. The Austin, Texas-based electric… Continue reading Tesla gets Justice Department subpoena over driver-assist systems