General Motors (GM) and Samsung to build battery plant in U.S.

Stellantis (STLA) offering voluntary buyouts to 33,500 U.S. employees

Stellantis (NYSE: STLA) announced Wednesday that the Chrysler parent company is offering voluntary exit packages to 33,500 U.S. employees as it looks to streamline operations.

The automaker did not say how many total jobs it is looking to eliminate. However, the offer covers 31,000 U.S. hourly workers and about 2,500 salaried workers. The company is also... More

Stellantis (STLA) to cut 3,500 U.S. jobs

According to a United Auto Workers union letter made public Tuesday, Chrysler and Dodge parent company Stellantis (NYSE: STLA) wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages.

According to the letter, The automaker is looking to reduce its... More

General Motors (GM) to end production of Chevy Bolt in shift to EV trucks and SUVs

General Motors (NYSE: GM) announced Tuesday that the American automaker will end production of its Chevrolet Bolt electric vehicle later this year as its shifts zero-emission production to trucks and SUVs built on a new battery platform.

In January 2022, GM said it would invest $4 billion in its Orion Township... More

Mercedes-Benz launches new E-Class, its final ICE vehicle

Mercedes-Benz on Tuesday announced the launch of the German luxury automakers final new combustion engine model - the next generation of the E-Class. The new vehicle will be built in Germany and China and go on sale in Europe in the third quarter of this year.

It will... More

Hyundai and SK On finalize $5B EV battery venture in U.S.

Hyundai Motor Co. announced Tuesday that the South Korean automaker has finalized a $5 billion electric vehicle (EV) battery joint venture in the U.S., boosting electrification efforts in the country.

Hyundai and partner SK On, a battery unit of SK Innovation Co Ltd (096770.KS), will set up a... More

CFRA upgrades General Motors (GM) to Hold following 1Q beat and raise

CFRA Research upgraded General Motors (GM) to a Hold rating (From: Sell) and raised their price target on the stock to $35.00 ($From: $31.00) as the automaker continues to benefit from favorable demand following 1Q results.

Analyst Garrett Nelson wrote in a note, "While we continue to believe the near-term... More

CFRA Upgrades General Motors (GM) to Hold on valuation

(Updated - April 25, 2023 8:36 AM EDT)

CFRA analyst Garrett Nelson upgraded General Motors (NYSE: GM) from Sell to Hold with a price target of $35.00 (from $31.00).

The analyst commented, "We raise our 12-month target by $4 to $35, based on a '24 P/E of 5.5x, a... More

General Motors (GM) adds 3% on big Q1 beat, raised FY forecast

General Motors (NYSE: GM) shares are up in pre-open Tuesday after the carmaker reported better-than-expected Q1 results and raised its full-year forecast.

The Michigan-based business posted EPS of $2.21 on revenue of $40 billion, topping the consensus for earnings of $1.70 on revenue of $38.4B. The company... More

Stocks expected to have increasing option volume: PEP UPS BKU FDX GE GEHC EDR VZ THC GM

Stocks expected to have increasing option volume: PEP UPS BKU FDX GE GEHC EDR VZ THC GM

General Motors (GM) Tops Q1 EPS by 51c, Beats on Revenue; Offers FY23 Guidance

General Motors (NYSE: GM) reported Q1 EPS of $2.21, $0.51 better than the analyst estimate of $1.70. Revenue for the quarter came in at $40 billion versus the consensus estimate of $38.4 billion.

For FY23 the company guided:

GM lifts guidance, but cautions price gains won't last

By Joseph White and Paul Lienert

DETROIT (Reuters) -General Motors Co on Tuesday lifted its full-year profit and cash flow forecasts, citing stronger-than-expected demand and higher prices, but executives cautioned the price gains over 2022 won't last as the year goes on.

After better-than-expected first quarter results, the No. 1 U.S. automaker said it expects full-year pre-tax profit in a range between $11 billion and $13 billion, up $500 million from a prior forecast.

Consumers willing to pay a rich price for a new vehicle gave GM a significant boost in the latest quarter. Higher prices added nearly $1,800 a... More

General Motors (GM) and Samsung SDI to Invest $3B+ to Expand U.S. Battery Cell Manufacturing

General Motors Co. (NYSE: GM) and Samsung SDI announced today they plan to invest more than $3 billion to build a new battery cell manufacturing plant in the United States that is targeted to begin operations in 2026.

"GM's supply chain strategy for EVs is focused on scalability, resiliency, sustainability and cost-competitiveness. Our new relationship with Samsung SDI will help us achieve all these objectives," said GM Chair and CEO Mary... More

Samsung SDI, GM to build $3 billion joint EV battery plant in US

SEOUL (Reuters) - Samsung SDI Co Ltd said on Tuesday it will invest $3 billion or more to build a joint venture electric vehicle (EV) plant with General Motors Co in the United States.

Targeted to start in 2026, the plan aims to have an annual production capacity of 30 gigawatt... More

GM, Samsung SDI to invest more than $3 billion to build joint EV battery plant in US

By David Shepardson and Heekyong Yang

WASHINGTON/SEOUL (Reuters) -General Motors Co and Samsung SDI said on Tuesday they will invest over $3 billion to build a joint venture electric vehicle battery manufacturing plant in the U.S., as the automaker diversifies its component suppliers.

The news comes as South Korean President Yoon Suk Yeol is in Washington to meet President Joe Biden on what is the first state visit to the U.S. by a South Korean leader in 12 years.

Yoon, who has made business opportunities a cornerstone of his foreign policy visits, is... More

General Motors (GM) Declares $0.09 Quarterly Dividend; 1% Yield

General Motors (NYSE: GM) declared a quarterly dividend of $0.09 per share, or $0.36 annualized.

The dividend will be payable on June 15, 2023, to stockholders of record on June 2, 2023, with an ex-dividend date of June 1, 2023.

The annual yield on the dividend is 1 percent.

For a... More

General Motors (GM) April weekly option implied volatility elevated into quarter results

General Motors (NYSE: GM) April weekly call option implied volatility is at 66, May is at 41; compared to its 52-week range of 31 to 61 into the expected release of quarter results before the bell on April 25.

California and others call for recall of Hyundai and Kia vehicles over risk of theft

California Attorney General Rob Bonta, as well as attorneys general of 17 other states on Thursday, call on the National Highway Traffic Safety Administration (NHTSA) to recall Hyundai and Kia vehicles, saying they are more likely to be stolen because they lack safety features that are standard in other cars.

Hyundai and Kia vehicles represent a large share of stolen cars in multiple U.S. cities, according to data from police and state officials. While most cars in recent years have been installed... More