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Tesla is finally being forced to reckon with a slowdown in electric-vehicle demand, and CEO Elon Musk's tactics are likely to look different than his peers' in the automotive industry.
DETROIT — General Motors on Tuesday posted quarterly results that topped Wall Street targets and raised its annual forecast, citing stable pricing and demand for its gas-engine vehicles, sending shares up 5%.
DETROIT — U.S. automakers General Motors and Ford face a challenge in common when they report first-quarter results next week: Explaining to investors where profit growth will come from in the months ahead as EV growth slows.
Legacy automakers are still losing thousands of dollars on many EV sales, according to newly published analysis from the Boston Consulting Group.
Something's happening with General Motors' headquarters buildings, and it may mean they'll no longer be GM's headquarters buildings.
If you feel like you haven't heard any news on General Motors' self-driving Cruise unit lately, there's good reason for that. After the company was alleged by the California Department of Motor Vehicles to have withheld footage concerning an October hit-and-run that one of the firm's vehicles was involved in, Cruise promptly suspended operations across the country and recalled the nearly 1,000 robotaxis in its fleet. Cruise's path back to offering fares again has been unclear in recent months, but now it seems the company will resume activity in Phoenix, Arizona first, and testing may begin as early as today.
Here's a story with a lot of layers, and it starts in China. The Beijing Late Post reports (translated, and via Car News China) that battery maker Contemporary Amperex Technology Company (CATL) is in talks with General Motors about establishing a North American battery production facility that would duplicate the licensing agreement Ford arranged with CATL for Ford's Blue Oval Battery Park in Michigan (BOPP). The BOPP, announced a year ago, would have Ford pay for the factory and production equipment, then license CATL's lithium iron phosphate battery technology. CATL would set up the plant and train Ford personnel, and help Ford set up a supply chain that satisfies IRA tax credit requirements, but have no financial interest in the plant, making its money from the licensing fee and royalties for the batteries produced. The Late Post cited unnamed sources for the GM news, saying that this potential plant is being considered for the U.S. or Mexico, and would be capable of making just as many batteries as Ford's facility.
General Motors is negotiating a U.S. battery-supply deal with China's CATL, Car News China reports.