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The Latest Breaking News from GM

Tesla slashed its prices across the board. We're now starting to see the consequences

Tesla's recent price cuts continue to reverberate, forcing Ford to follow suit while leaving Tesla owners feeling aggrieved. Here's how the move by the market leader has shaken the car industry.

WEKU

GM Investing $650M In Nevada Lithium Mine For EV Battery Production

Actual lithium extraction won't start until 2026, though.

Motor1

2024 Cadillac Lyriq To Get Real Leather Interior And New Colors

The 2024 Cadillac Lyriq will come with several changes over the current model year, including new exterior color options and a new Nappa leather pack.

InsideEVs

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2024 Cadillac Lyriq Gets Cheaper Base Trim With Fewer Features

2023 Lyriq production is sold out, so you'll have to order a 2024 model, which means you can get one for less than $60,000, though it lacks some goodies.

InsideEVs

GM conditionally OKs $650M Nevada lithium mine investment

General Motors has conditionally agreed to invest $650 million in Lithium Americas in a deal that will give GM exclusive access to the first phase of a mine planned near the Nevada-Oregon line with the largest known source of lithium in the U.S. The equity investment the companies announced jointly…

The Independent UK

GM Posts Record Earnings In 2022, Plans $2B In Cost Cuts By 2024

The CFO is clear that layoffs are not part of the cost-cutting strategy.

Motor1

The EV wars are here and it's 'now or never' for major players like Ford and GM to gain ground against Tesla, according to Wedbush analyst Dan Ives

“There is a window of opportunity to gain share...and 2023 is a pivotal year that will establish the winners and losers in this EV landscape,” Wedbush tech analyst Dan Ives says amid the industry's price cuts.

Fortune

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GM says fourth battery plant 'very much on track,' envisions others

General Motors Co. is still planning a fourth battery plant and even more beyond that despite the reported breakup with supplier and partner LG Energy Solution.

Tribune News Service

GM hourly workers to get biggest profit-sharing checks ever, over $12,000

General Motors Co. will deliver its largest profit-sharing payouts ever to employees next month ― up to $12,750 this year to about 42,300 eligible hourly workers, according to the company's financial results released Tuesday.

Tribune News Service

GM And Lithium Americas Strike $650 Million Investment Agreement

As GM moves forward with a full portfolio of EVs to overtake Tesla, it has secured a major domestic stake in lithium for its batteries.

InsideEVs

GM reports nearly $10 billion in profit in 2022 despite headwinds

General Motors Co. booked $9.9 billion in net income last year, down from 2021's $10 billion despite chronic supply chain woes, rising interest rates and a slowing economy.

Tribune News Service

The Hummer EV's Massive Battery Pack Limits Production: GMC VP

GMC global VP Duncan Aldred said GM has the choice of building one Hummer or two other EVs from its stable of products using the same amount of battery cells.

InsideEVs

GMC Hummer EV's Big Battery Pack A "Limiting Factor" For Production

GM's Factory Zero has plenty of capacity for Hummer production, but one Humvee battery is nearly enough for two mass-market EVs.

Motor1

First 2024 GMC Hummer EV SUV Sells For $500,000 At Auction

Production of the Hummer EV SUV begins today at GM's Factory ZERO Detroit-Hamtramck Assembly; reservations of the Edition 1 SUV are currently full.

InsideEVs

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Motorsport

Bourdais “surprised” Cadillac was beaten on pace in Rolex 24

Chip Ganassi Racing ace Sebastien Bourdais has expressed surprise that the Acura ARX-06 outperformed the similarly new Cadillac V-LMDh around Daytona.

InsideEVs

Elon Musk Meets With Biden Administration To Discuss EV Strategy

Elon Musk has met with two top Biden administration officials to discuss shared EV goals.

StockNews.com

1 Auto Stock to Buy for 2023 and 1 to Avoid Like the Plague

While macroeconomic headwinds affected the auto industry last year, growing vehicle demand and increased EV adoption are expected to boost the industry’s growth in the long run. Hence, investing in fundamentally strong auto stock General Motors (GM) could be wise. However, Mullen Automotive (MULN) might be avoided due to its…

Autosport

Ford: F1’s boom means it "requires consideration"

Ford’s motorsport boss says it would be remiss of the American car giant not to be considering a Formula 1 return amid the series' rapid growth in the United States.

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Miami Herald

Ex-chief of Venezuela’s highest court charged with diverting millions in bribes to Miami

MIAMI —The former chief of Venezuela’s highest court was indicted Thursday in Miami federal court on charges of granting legal favors in exchange for bribery payments that he diverted through local bank accounts and spent on chartered private jets, expensive watches, luxury goods and real estate in South Florida.

Autosport

Supercars details engine lottery for teams in Gen3

Supercars has detailed its random engine allocation to both the Ford and GM teams as part of the new Gen3 regulations.

Motorsport

Supercars details engine lottery

Supercars has detailed its random engine allocation to both the Ford and GM teams as part of the new Gen3 regulations.

Motor1

Ford BlueCruise, GM Super Cruise Rank Highest In Consumer Reports ADA Test

Tesla Autopilot tumbles to seventh spot in this comparison of active driver assist systems.

InsideEVs

Consumer Reports: Tesla Autopilot Falls In Driver-Assist Rankings

Tesla Autopilot was in the second-place position to GM's Super Cruise in Consumer Reports' 2020 rankings. However, now Autopilot falls to the seventh spot.

Tribune News Service

LG gets extension on Michigan battery plant expansion as plans with GM stall

LG Energy Solution is getting an extension on formally entering into an agreement with Michigan's quasi-governmental economic engine to quintuple the size of its Holland, Michigan, electric-vehicle battery plant just days after it first was reported that the company won't be building a fourth battery plant with General Motors Co.

StockNews.com

The 3 Best Car Stocks to Buy for Potential Profits in 2023

The automotive industry is expected to witness a rise in demand due to cooling inflation and easing supply chain disruptions. Moreover, with the growing popularity of electric vehicles, the automobile industry is expected to perform well. Therefore, it could be wise for investors to buy fundamentally strong car stocks General…

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