General Motors (GM) cuts 'several hundred' contract workers over the weekend
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UAW holds off on endorsing Biden for 2nd term citing EV policies
May 3, 2023 3:22 PM EDTUnited Auto Workers (UAW) President Shawn Fain said in a letter to members seen by Reuters Wednesday that the Detroit-based union has yet to endorse President Joe Biden for a second term, citing concerns about electric vehicle policies.
"The federal government is pouring billions into the electric vehicle transition, with no strings attached and no commitment to workers. The EV transition is at serious risk of becoming a race to the bottom. We want to see national leadership have our back on this before we make any commitments," Fain... More
General Motors (GM) GM North America names Rory Harvey President as Steve Carlisle announces retirement
May 2, 2023 2:26 PM EDTAmerican Automotive brand General Motors (NYSE: GM) announced Tuesday that Steve Carlisle, executive vice president and president of GM North America, is retiring after more than four decades with the company. Carlisle, 61, has been the president of GM North America since September 2020.
The company also... More
U.S. might delay decision to add EVs to biofuel credit program
May 1, 2023 1:15 PM EDTAccording to a Reuters report Monday, citing unnamed sources, that the United States Government could delay a decision on giving eRIN tradable credits to EVs under a renewable fuel program over concerns about expected legal challenges.
Last year, the U.S. Environmental Protection Agency (EPA) proposed to significantly expand the current Renewable Fuel Standard (RFS) to include the so-called eRIN proposal which would allow automakers to generate eRINs tradable credits based on the EVs they sell by establishing contracts with parties that produce electricity from biogas.
The plan would have... More
GM cuts several hundred full-time contract workers
May 1, 2023 11:17 AM EDTBy David Shepardson and Nathan Gomes
(Reuters) -General Motors Co on Monday said it had cut several hundred full-time contract workers over the weekend including at its engineering hub in suburban Detroit, the latest effort by the U.S. automaker to streamline operations.
The contractors losing their jobs were within global product development at locations such as the company's Warren Tech Center. The Wall Street... More
General Motors (GM) Cuts Several Hundred Contract Workers Over Weekend - WSJ
May 1, 2023 10:24 AM EDTGM (NYSE: GM) Cuts Several Hundred Contract Workers Over Weekend - WSJ
GM: Contractor Cuts Were From Auto Maker's Product-Development Operation... MoreFirst Republic, ExxonMobil fall premarket; JPMorgan, GM rise
May 1, 2023 9:16 AM EDTInvesting.com -- Stocks in focus in premarket trade on Monday, May 1st. Please refresh for updates.
First Republic Bank (NYSE: FRC) stock fell 34% and JPMorgan... More
Biden Administration Considers Delaying Final Rule On Incorporating Electric Vehicle Industry Into Us Biofuel Blending Program - Reuters
May 1, 2023 7:00 AM EDTBiden Administration Considers Delaying Final Rule On Incorporating Electric Vehicle Industry Into Us Biofuel Blending Program - Reuters
... MoreMorgan Stanley upgrades General Motors (GM), sees attractive risk reward
May 1, 2023 6:35 AM EDTMorgan Stanley analyst Adam Jonas upgraded General Motors (NYSE: GM) shares to Overweight from Equal Weight with the price target also raised ($38 vs prior $35 per share).
The analyst also hiked the bull-case forecast for GM stock to $60 from $50 per share. Jonas believes GM stock is oversold... More
Morgan Stanley Upgrades General Motors (GM) to Overweight, 'the stock is oversold'
May 1, 2023 6:03 AM EDT(Updated - May 1, 2023 6:03 AM EDT)
Morgan Stanley analyst Adam Jonas upgraded General Motors (NYSE: GM) from Equalweight to Overweight with a price target of $38.00 (from $35.00).
The analyst comments "GM may be overearning, but the stock is oversold. The market has... More
Daimler joint venture to build $650M nationwide charging network for electric trucks
April 28, 2023 2:30 PM EDTMercedes-Benz owned Daimler Truck on Friday introduced Greenlane, the name of its joint venture with NextEra Energy and BlackRock Alternatives.
The more than $650 million joint venture was formed to design, develop, install and operate a U.S. nationwide, high-performance zero-emission public charging and hydrogen fueling network for medium- and heavy-duty battery-electric and hydrogen fuel cell vehicles.
They also unveiled renderings of the site layout as a major milestone in the development of the... More
Texas house approves $200 annual fee on EVs, bill heads to Gov. Abbott’s desk
April 28, 2023 1:27 PM EDTA Texas bill requiring electric vehicle drivers to pay an additional annual $200 fee passed the state House of Representatives Thursday with a unanimous vote of 145-0. SB 505 will now head to Gov. Greg Abbotts desk where it is expected to be signed.
Republican state Sen. Robert Nichols, who sponsored the legislation, said an additional electric vehicle fee is necessary because EV drivers don't pay gas taxes when they fuel their vehicles.
"As... More
