GlobalFoundries (GFS) and GM (GM) Announce Long-Term Direct Supply Agreement for U.S. Production of Semiconductor Chips

Ford (F) announces $3.5B investment to build New LFP Battery Plant in Michigan

Ford Motor Company (NYSE: F) announced today that the American automaker is investing $3.5 billion to build the countrys first automaker-backed LFP battery plant in Michigan, offering customers a second battery technology within Fords EV lineup.

The BlueOval Battery Park Michigan plant, as its being called, will initially employ 2,500 people when production of LFP batteries begins in 2026. Ford also has the option to further grow its battery capacity at its Marshall, Michigan, plant, which will be part of a wholly owned Ford subsidiary.

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GM remains 'Top Pick' as Citi examines 2023 pricing bridge

Citi reiterated a Buy rating and $82.00 price target on General Motors Company after examining the American automakers 2023 pricing bridge. The company remains a Top Pick at Citi.

Analyst, Itay Michaeli wrote in a note, We believe GM offers very unique exposures both to highly attractive growth end-markets (Truck Franchise) as well as secular EV/AV/connected themes, which support a turnaround of GMs Non-Truck Franchise and LT growth opportunities. In addition, we view Cruise as being among the leaders in the emerging urban RoboTaxi network business. We do not believe GM shares reflect these favorable attributes.

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General Motors (GM) and GlobalFoundries (GFS) announce long term direct supply agreement

American vehicle manufacturer General Motors (NYSE: GM) announced Thursday, alongside GlobalFoundries (NASDAQ: GFS), that the two have in a strategic, long-term agreement. The agreement establishes a dedicated capacity corridor exclusively for GM's chip supply. Through this direct supply agreement, GFS will manufacture key chips for GM through their advanced semiconductor facility in upstate New York bringing a critical... More