General Motors (GM) GM North America names Rory Harvey President as Steve Carlisle announces retirement

General Motors (GM) pleads guilty in worker safety case, fined $350,000

May 4, 2023 2:11 PM EDT

General Motors (NYSE: GM) has been fined $325,000 in Canada after pleading guilty to failing to take every precaution reasonable in the circumstances leading to the death of a worker at the automakers St. Catharines facility on October 22, 2021.

The company pled guilty in... More

UAW holds off on endorsing Biden for 2nd term citing EV policies

May 3, 2023 3:22 PM EDT

United 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

U.S. might delay decision to add EVs to biofuel credit program

May 1, 2023 1:15 PM EDT

According 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

General Motors (GM) cuts 'several hundred' contract workers over the weekend

May 1, 2023 11:49 AM EDT

The Wall Street Journal announced Monday that American automaker General Motors (NYSE: GM) has laid off several hundred full-time contract workers at its Global Technical Center in Warren as well as other locations this weekend in its bid to shave $2 billion from its budget by the end of next year.

The cuts come nearly a month after... More

GM cuts several hundred full-time contract workers

May 1, 2023 11:17 AM EDT

By 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 EDT

GM (NYSE: GM) Cuts Several Hundred Contract Workers Over Weekend - WSJ

GM: Contractor Cuts Were From Auto Maker's Product-Development Operation... More

First Republic, ExxonMobil fall premarket; JPMorgan, GM rise

May 1, 2023 9:16 AM EDT

Investing.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 EDT

Biden Administration Considers Delaying Final Rule On Incorporating Electric Vehicle Industry Into Us Biofuel Blending Program - Reuters

... More

Morgan Stanley upgrades General Motors (GM), sees attractive risk reward

May 1, 2023 6:35 AM EDT

Morgan 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 EDT

Mercedes-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 EDT

A 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