GM Defense, Mistral Ink Strategic Collaboration To Enhance Tactical Capability

GM Raises FY24 EPS Forecast As Q3 Beats Market

Automajor General Motors Co. on Tuesday raised its fiscal 2024 adjusted earnings view in line or above market estimates, after reporting higher third-quarter earnings per share and sales, also above the Street. Net earnings for the quarter, meanwhile, edged down. In pre-market activity on the NYSE, GM shares were gaining around 2 percent.

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GM To Build New $3.5 Bln EV Battery Plant With Samsung SDI

Auto major General Motors has signed a deal with South Korean EV battery maker Samsung SDI to establish a joint venture to build a $3.5 billion plant to supply electric vehicle or EV batteries in the United States. The new battery cell manufacturing plant with an annual production capacity of 27GWh initially, is targeting mass production in 2027.

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Uber In Deal With GM's Cruise To Offer Robotaxis Next Year

Uber Technologies, Inc. and Cruise LLC, the autonomous vehicle company owned by General Motors Co., are joining to offer Cruise autonomous vehicles through the Uber platform. The companies, which are revolutionizing transportation, agreed on a multiyear strategic partnership that will be launched next year. Under the deal, a number of Chevy Bolt-based autonomous vehicles will be offered for...

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GM To Cut More Than 1,000 Software Jobs

Auto major General Motors is laying off more than 1,000 salaried employees in its software and services division across the world, mostly in the U.S., with a view to streamlining its operations, reports said. In the proposed layoffs of software engineers, more than 600 will be at GM's tech campus in Michigan. The job cuts represent about 1.3 percent of GM's global salaried workforce...

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GM Q2 Volume Down, Cuts FY24 Earnings View; Stock Dips

Shares of General Motors Co. were losing more than 6 percent in the early morning trading on the NYSE after the automajor reported Tuesday weak sales volume in its second quarter, mainly in China, and trimmed its fiscal 2024 earnings forecast on a reported basis. However, the company raised its annual adjusted earnings view after reporting higher second-quarter earnings and revenues above market e

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GM Defense Provides Commercial Battery Electric Technology For Future Military Platforms

GM Defense LLC, a subsidiary of General Motors Co. (GM), said Tuesday it is providing commercial battery electric technology in support of the University of Texas at Arlington (UTA) Pulsed Power and Energy Laboratory (PPEL) and Naval Surface Warfare Center Philadelphia Division (NSWCPD).

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GM To End Chevy Malibu Production

Automajor General Motors plans to end production of its gasoline-powered Chevrolet Malibu car later this year as it prepares to produce new electric vehicles, reports said. Chevy Malibu, which was launched in 1964, has since been sold more than 10 million in numbers. The Malibu will end its production in November.

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GM's Cruise Resumes Manual Driving As Next Step To Relaunch Robotaxis

Cruise LLC, the autonomous vehicle company owned by auto giant General Motors Co., announced its plan to resume manual driving as the next step in return to fully driverless operations. The company, which had paused all its operations last year following an accident, now said manual driving will be resumed to create maps and gather road information in select cities, starting in Phoenix.

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