Hertz (HTZ) Announces Major EV Expansion with General Motors (GM)

General Motors (GM) Announces Lithion Investment and Strategic Partnership Agreement

September 22, 2022 1:19 PM EDT

General Motors (NYSE: GM) announced today that the company is investing in Lithion Recycling Inc.s Series A financing round, supporting a new GM-Lithion strategic partnership agreement to pursue a circular battery ecosystem using Lithion's advanced battery recycling technology

The collaboration will focus on the validation of Lithion's recovered battery materials for use in the production... More

GM, Hertz make deal to deploy up to 175,000 EVs

September 20, 2022 12:14 PM EDT

(In Sept. 20 story, Hertz corrects its estimate in final paragraph to 1.8 million tonnes from 3.5 million)

By David Shepardson and Joseph White

(Reuters) -Rental car company Hertz Global Holdings plans to order up to 175,000 General Motors Co electric vehicles over the next five years, its latest move toward zero-emission models.

The multi-billion dollar, multi-year deal could be the first of many GM agreements to supply electric vehicles to rental car companies, said Steve Carlisle, the automaker's North American operations chief, on a conference call.

"It's an enormous first step," Carlisle said, adding that GM is in... More

Hertz (HTZ) to Order 175K General Motors (GM) EVs Over Next 5 Years

September 20, 2022 12:01 PM EDT

Hertz (NASDAQ: HTZ) and General Motors Co. (NYSE: GM) today announced an agreement in which Hertz plans to order up to 175,000 Chevrolet, Buick, GMC, Cadillac and BrightDrop EVs over the next five years. Hertz and GM believe this plan is the largest expansion of EVs among fleet customers and the broadest because it spans a wide range of vehicle categories and price points from compact and midsize SUVs to pickups, luxury vehicles and more.

The agreement will encompass electric... More

Hertz Global (HTZ) Customers Sue Company Over Wrongful Arrests -- WSJ

September 20, 2022 11:55 AM EDT

Hertz Global (NASDAQ: HTZ) Customers Sue Company Over Wrongful Arrests -- WSJ

... More

General Motors (GM) option IV bid as shares sell off 5.2%

September 20, 2022 10:51 AM EDT

General Motors (NYSE: GM) 30-day option implied volatility is at 46; compared to its 52-week range of 29 to 58 as shares sell off 5.2%.

... More

GM backs setting tough U.S. emissions targets for 2030

September 20, 2022 10:19 AM EDT

By David Shepardson

NEW YORK (Reuters) -General Motors Co said on Tuesday it backed establishing tougher federal emissions standards to help ensure at least 50% of new vehicles sold by 2030 are zero-emission.

The largest U.S. automaker and the Environmental Defense Fund (EDF) released a series of joint recommendations to boost electric vehicles as the Environmental Protection Agency (EPA) develops proposed requirements from the 2027 model year through at least 2030.

GM and the EDF... More

Pre-Open Movers: Change Healthcare Up on Merger Ruling, Nike Falls on Downgrade

September 20, 2022 9:21 AM EDT

Pre-Open Stock Movers:

Change Healthcare Inc. (NASDAQ: CHNG) 7% HIGHER; defeating a Justice Department lawsuit that sought to block UnitedHealth Group's (NYSE: UNH) $7.8 billion acquisition of the company.

Louisiana-Pacific Corp (NYSE:... More

After-Hours Movers: Cognex Up on Guidance Hike, Ford Falls on Inflation Pressures

September 19, 2022 6:03 PM EDT

After-Hours Stock Movers:

Cognex Corporation (NASDAQ: CGNX) 4% HIGHER; increased its revenue guidance for the third quarter of 2022 ahead of the company's triennial Analyst Day. The company now expects revenue to be between $195 million and $205... More

Bernstein Expects EV Battery Demand to Rise; Will IRA Budget be Enough?

September 19, 2022 8:07 AM EDT

When U.S. President Joe Biden signed the Inflation Reduction Act (IRA) into law in August, he called it an historic step to fight inflation, lower costs, and create jobs that corporations cant ship overseas. The law was designed to do several things, not least of which was to combat climate change through clean energy and electric vehicle (EV) tax incentives.

Under the new law,... More