GM hires former Apple executive Abbott to lead software unit
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General Motors (GM) restructures business unit to compete with Ford Pro (F)
May 11, 2023 8:59 AM EDTDetroit automaker, General Motors (NYSE: GM), at its annual Fleet Solutions Summit, revealed that the company is consolidating its North American sales operations for commercial vehicles, parts and telematics services under a new brand umbrella named GM Evolve. The new brand will compete with Fords(NYSE: F) Ford Pro unit and others for revenue from business vehicle... More
U.S. EV shares slump following news of Lucid (LCID) and Fisker (FSR) poor 1Q results and production cuts
May 9, 2023 1:44 PM EDTU.S. electric automakers saw a decline in share prices Tuesday morning following cuts to production forecasts by Lucid Group Inc (NASDAQ: LCID) and Fisker Inc (NYSE: FSR), with Lucid sliding 9% in early trading.
Fisker shares were last down 5.3% after the company reported quarterly results. The company reported 1Q EPS of ($0.38), $0.08 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $198 thousand versus the consensus estimate of $6.33 million. The EV maker also announced... More
General Motors (GM) names Mike Abbott as EVP of software, effective May 22nd
May 9, 2023 11:01 AM EDTAmerican automaker, General Motors (NYSE: GM) announced Tuesday that Mike Abbott, former vice president of Engineering for Apples Cloud Services division, will join GM as executive vice president, Software, effective May 22, 2023. He will report to GM Chair and CEO Mary Barra.
Abbott brings extensive technology industry experience in cloud computing, storage, networking, security and more at scale. As a... More
