Tag: GM

GM is transforming Cadillac into an electric brand

General Motors is turning Cadillac into its lead electric vehicle brand in a bid to compete against Tesla as well as a host of other automakers bringing EVs onto the market. Plans are already underway to introduce the first model from the company’s new battery electric vehicle architecture, GM said Friday during an investor meeting.… Continue reading GM is transforming Cadillac into an electric brand

GM is making the right move by focusing Cadillac brand on electric, but it should go even further

As we reported yesterday, GM is announcing that Cadillac will act as its ‘lead electric vehicle brand’. The news was confirmed by the company today and here are my thoughts on the situation: After the news leaked yesterday, the automaker has now confirmed it in a statement as part of its annual earnings report: “Cadillac will… Continue reading GM is making the right move by focusing Cadillac brand on electric, but it should go even further

GM says 2018 earnings exceeded expectations and 2019 looks even better

GM raises guidance for 2019 as it focuses on light truck production
42 Mins Ago | 04:28

General Motors CEO Mary Barra said the automaker's full-year 2018 earnings exceeded its previous expectations and that 2019 is looking even better, citing strong sales in China and high demand for its truck and utility vehicles in the U.S.

“From a 2018 perspective, it is not only a focus on really capitalizing on the new trucks we have out there, the light duty trucks, but also the focus on cost reduction so it was across the board. Every element of the company,” Barra told CNBC's Phil LeBeau.

The second largest U.S. automaker had previously told investors it expected 2018 adjusted earnings of between $5.80 and $6.20 a share and adjusted automotive free cash flow of $4 billion. It now expects to surpass those projections and painted an even better picture of 2019, Barra said Friday.

She forecast diluted adjusted earnings per share of between $6.50 to $7 and adjusted automotive free cash flow $4.5 billion to $6 billion for 2019.

GM's shares surged 6 percent in premarket trading on the news.

Barra also said GM tightened its belt last year, helping to boost earnings. She announced several plant closures and 14,000 job cuts in November. The reorganization is estimated to save about $6 billion by the end of 2020, with about half of those cost savings realized by the end of 2019, the company said at the time.

Barra said the job cuts were a “proactive” move in an otherwise strong labor market.

“We have been transparent with the [United Auto Workers union], helping them and making sure they understand the business and that customers' preferences are changing,” she told reporters on a call Friday morning.

GM plans to expand its footprint overseas with a global family of vehicles it is set to launch in China this year, Barra said on the call. She said GM has 20 new or updated products coming out in China.

“When you step back and look at China, we have been there for 20 years, we have had tremendous success, we have very strong brands,” she told LeBeau. “We think that the trade talks that are going on right now are very constructive, the fact they have extended this round to have even more discussion, the next is already scheduled, we know there is discussion of durable goods stimulus in country that we think will apply to autos.”

Cadillac will become the company's lead electric vehicle brand, it said. It's projecting just over 17 million in total U.S. vehicle sales in 2019 and 27 million in China — about flat from 2018. She said annual auto sales in China will eventually climb to 30 million.

WATCH:
CNBC's full interview with General Motors CEO Mary Barra

Watch CNBC's full interview with General Motors CEO Mary Barra
59 Mins Ago | 09:49

Socket to me: MyChevy app tells Bolt EV drivers where to charge

Chevrolet Bolt EV charging at EVgo station
Too many apps!

That's one of the complaints electric car drivers have about charging electric cars. With the time it takes to charge one of the biggest complaints is mapping your way to a charger only to arrive and find it's occupied or out of service.

Now General Motors has forged an agreement with two of the largest charging networks in the U.S., ChargePoint and EVgo, along with Greenlots, to provide real-time data about what charging stations are available and provide it to Chevrolet Bolt EV drivers to tell them what chargers are open and available.

READ THIS: ChargePoint partners with Greenlots to expand access for drivers

Charging networks have long provided similar service to their own customers. But electric car drivers looking for the fastest or most convenient charger along their route may need to search multiple networks.

The ubiquitous Plug-Share app shows availability across networks, but it is crowdsourced and not always updated.

The updated MyChevy app expected to roll out this spring is also expected to provide a way for Bolt EV drivers to easily sign up for subscription services with ChargePoint, EVgo, and Greenlots.

READ MORE: Blink charging network joins interoperability push

Drivers can access charger availability data before they begin a trip or via their cars' infotainment screen.

More partnerships are springing up across the charging industry to provide real-time data, generated electronically from the charger, to unified apps. A recent tie-up between ChargePoint and Greenlots allows users to see and pay for chargers from both networks on each others' apps. And a similar agreement between ChargePoint, the largest network in the U.S. so far, and Canadian charging network Flo provides similar interoperability.

DON'T MISS: One-step Plug&Charge coming to (Electrify) America

Many of the new agreements and services are powered by system aggregators such as Hubject recently entering the U.S. market. Such systems provide a software platform that charging companies and automakers can simply wrap into their own apps which gathers and shares availability and payment data among different networks.

It's all a reminder that electric-car infrastructure is still in early days, and things will likely start to get a lot simpler soon.

Under pressure to change, Ford is reinventing itself

The company has not ruled out leaving Europe altogether if its strategy fails, said a source. New York: Struggling with a sagging stock price and sluggish sales, US car giant Ford took steps to regain its footing this week with the announcement of a massive restructuring effort in Europe — even as it prepared for… Continue reading Under pressure to change, Ford is reinventing itself

Tesla Clinic Accused Of Denying Injured Workers Medical Care To Hide True Injury Count

Yesterday, Reveal from The Center for Investigative Reporting published an exposé about work conditions at the Tesla auto factory. In the piece, “Inside Tesla’s factory, a medical clinic designed to ignore injured workers,” many accounts of fraudulent reporting and blatant mishandling of medical injuries are detailed.

“The on-site medical clinic serving some 10,000 employees at Tesla Inc.’s California assembly plant has failed to properly care for seriously hurt workers, an investigation by Reveal from The Center for Investigative Reporting has found.

“The clinic’s practices are unsafe and unethical, five former clinic employees said.

“But denying medical care and work restrictions to injured workers is good for one thing: making real injuries disappear.”

“‘The goal of the clinic was to keep as many patients off of the books as possible,’ said Anna Watson, a physician assistant who worked at Tesla’s medical clinic for three weeks in August.”

Watson recounts incidents of workers being sent to the hospital for emergencies in a Lyft rather than an ambulance because ambulance calls would have to be reported. Once such occasion was when a worker severed the tip of his finger.

On a separate occasion, Stephon Nelson was putting caulk inside the trunk of a Model X when the unthinkable happened. Something was dislodged and the hatchback came crashing down on Nelson’s back. Besides the extreme pain, Nelson was unable to walk or even sit. Deep bruises were an immediate and visible testament to his underlying injury. The Tesla doctor denied an ambulance request and sent him to the hospital in a Lyft.

Typically, 911 logs are public records. And first responders are required to report to California’s Division of Occupational Safety and Health. Lyft drivers have no such requirement. This is just one of the ways Tesla is accused of intentionally hiding injuries.

Even getting the Lyft is not a straightforward process. The piece says that an injured person lying on the assembly line would have to wait 10 to 15 minutes for medical personnel to get there. Once arrived, they would have to contact the doctor. Finally, it could take hours just to get the code for the Tesla Lyft account.

Watson speaks of a policy to send injured workers back to work without any type of work modification regardless of the complaint. Those complaints could include burns, lacerations, sprains, and the like. She even had to send a person back to work who appeared to have a broken ankle.

These are not isolated incidents. The report is quite long and detailed. It paints a picture of systematic abuse in the service of hiding facts about injuries. Tesla denies all claims.

GM plans to challenge Tesla with Cadillac as its lead electric vehicle brand

GM will position Cadillac as their lead EV brand in a mission to catch up to Tesla in the US electric vehicle market, according to sources talking to Reuters. They report that GM will announce these plans to investors on Friday. They are expected to announce that a Cadillac vehicle will be the first car made… Continue reading GM plans to challenge Tesla with Cadillac as its lead electric vehicle brand

Lyft will add Segway scooters with swappable batteries ‘soon’

Lyft Lyft is teaming up with Segway-Ninebot as it updates its shared scooter fleet, TechCrunch reports. Lyft’s scooter service first launched last September in Denver and it now spans nine US cities. And though it first deployed Xiaomi-built scooters, the China-based company later sent Lyft a cease-and-desist letter, saying in October that it didn’t “condone… Continue reading Lyft will add Segway scooters with swappable batteries ‘soon’

California Utility Offers $1,000 Rebate To EV Buyers

JAN 6 2019 BY MARK KANE SCE appreciate its customers who buy plug-in vehicles Southern California Edison (SCE) raises the rebate to customers who purchase or lease a new or used all-electric or plug-in hybrid vehicle. The amount increased from $450 for those who bought a plug-in before Jan. 1, 2019 to $1,000 for those… Continue reading California Utility Offers $1,000 Rebate To EV Buyers