General Motors (GM) and POSCO expand Ultium CAM joint venture in North America with $1B investment

EPA to scrap proposed EV volumes from biofuel blending rule

June 6, 2023 2:38 PM EDT

Reuters reports today, citing three unnamed sources familiar with the matter that the Biden administration is planning to discard a proposal to include the electric vehicle industry into the U.S. biofuel blending program. Additionally, the administration intends to retract tradable credits worth potentially billions of dollars that were associated with this initiative.

It was first reported in early May that the Environmental Protection Agency (EPA) was considering delaying the EV program over concerns the plan could trigger lawsuits. The... More

Ford (F) names Whirlpool's (WHR) Liz Door as new supply chain chief

June 6, 2023 2:10 PM EDT

Ford Motor (NYSE: F) on Tuesday announced the appointment of Liz Door from Whirlpool Corp (NYSE: WHR) as its new chief supply chain officer, effective June 12. This decision comes as Ford anticipates a challenging 2023 due to chip shortages, supply... More

Global EV penetration reaches 14% in April with promising uptick in May

June 6, 2023 10:00 AM EDT

Barclays April report card shows that global electric vehicle penetration reached 14% in April, slightly outpacing last years EV penetration of 13%; however, it fell short of the heightened levels observed in the fourth quarter of 2022. Shifting focus to May, the industry is demonstrating promising signs of a substantial m/m increase in EV penetration, indicating a positive trajectory.

Additionally, while Tesla's (NASDAQ: TSLA) market share remains stable, the actual strength might not be as robust as the price reductions would have you expect. Lastly, the US electric vehicle market continues to make... More

Ford's (F) deal with Tesla (TSLA) charges up industry and sparks standardization talks

June 6, 2023 7:58 AM EDT

The recent move by Ford Motor Co (NYSE: F) to grant its customers access to Tesla's (NASDAQ: TSLA) electric-vehicle charging network has caused significant waves in the industry. This decision has sparked discussions about the need for a standardized charging infrastructure across the United States and has also cast uncertainty on the future of struggling charging startups.

The deal, announced last month, outlined plans to provide drivers of Ford vehicles in North America with access to over 12,000 Tesla Superchargers, starting in 2024. Under the deal, Ford will... More

GM to invest $1B to retool plants for gas-powered heavy-duty trucks

June 5, 2023 2:27 PM EDT

General Motors (NYSE: GM) announced Monday its intention to invest more than $1 billion in the retooling of two mid-Michigan plants. This strategic move aims to equip the facilities for the production of a new wave of gas-powered heavy-duty trucks.

GM has outlined this year a total of $1.7... More

GM’s Mary Barra pushes back against autonomous vehicles doubters

June 2, 2023 1:44 PM EDT

General Motors (NYSE: GM) CEO Mary Barra spoke at a Sanford Bernstein conference Friday where she doubled down on her confidence that the company will experience significant growth opportunities in the autonomous vehicle industry over the next decade.

Barra restated her prediction that Cruise could generate $50 billion a year in annual revenue by... More

GM chief Barra stands by her bet on autonomous vehicles

June 2, 2023 12:24 PM EDT

By Joseph White and Shivansh Tiwary

DETROIT (Reuters) -General Motors Co Chief Executive Mary Barra had a message on Friday for investors and rivals who see no profitable future in autonomous vehicles: You're wrong.

Barra told attendees at a Sanford Bernstein conference she sees a "giant growth opportunity" in GM's Cruise autonomous vehicle unit, and predicted personal self-driving cars would be on the market before the end of the decade.

Barra reiterated a forecast that Cruise could generate $50 billion a year in annual revenue by 2030. That target assumes deployment of Cruise technology and services outside... More

Stellantis (STLA) and General Motors (GM) hit with $363M in penalties for fuel economy violations

June 2, 2023 11:44 AM EDT

An exclusive story by Reuters on Friday revealed that Stellantis (NYSE: STLA) and General Motors (NYSE: GM) have paid a combined sum of $363 million in civil penalties. These penalties were imposed due to their failure to meet the fuel economy standards set by the United States for previous model years.

According to the National Highway Traffic Safety Administration (NHTSA), which administers the Corporate Average Fuel Economy (CAFE) program, the record-setting penalties include... More

Tesla’s (TSLA) price cuts drive online traffic spike

June 2, 2023 7:48 AM EDT

Citi has recently revised their "mindshare" tracker for electric vehicles (EVs), which keeps tabs on web traffic related to EVs. This tracker evaluates the level of engagement on websites associated with the overall EV market, as well as specific brands or companies, with the latter serving as a possible predictor of future EV market share and brand... More

GM (GM) and POSCO Future M to Expand EV Battery Supply Chain in North America with New Integrated CAM and Precursor Processing Complex

June 2, 2023 7:02 AM EDT

General Motors Co. (NYSE: GM) and POSCO Future M announced today the second phase of their Ultium CAM joint venture, an investment projected to exceed $1 billion (U.S.) to increase production capacity of CAM in North America and integrate precursor materials production. pCAM is a specifically engineered combination of processed raw materials necessary to produce CAM, a key battery material representing about 40% of the cost of a battery... More

General Motors (GM) to build key components for E-Cite Motors’ EV-GT

May 31, 2023 11:13 AM EDT

E-Cite Motors, a privately owned subsidiary of VaporBrands, revealed Wednesday that General Motors (NYSE: GM) would be responsible for producing crucial components for their upcoming electric sportscar, the EV-GT.

GM has designed and crafted several important components for the EV-GT, including specific suspension... More