GM investing $300 million to build a new electric Chevy in the U.S.

GM announced Friday it will invest $300 million into a Michigan factory to produce a new Chevrolet electric vehicle, reversing a decision to build the EV outside of the United States. The announcement comes on the heels of recent job cuts and plant closures by GM, moves that have complicated bargaining with union workers over […]

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Cruise Automation taps GM president Dan Ammann as its new CEO

Cruise Automation, the self-driving car subsidiary of GM, is getting a new CEO. The autonomous vehicle company, which was acquired by GM in 2016 and became subsidiary GM Cruise, has tapped Dan Ammann as CEO. Ammann will step down as GM’s president, a role he’s held since January 2014. Kyle Vogt, a Cruise co-founder who […]

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GM plans to cut more than 14,000 jobs, close factories as downturn looms

First, came the voluntary buyouts. Now, GM is ramping up its belt-tightening measures with cuts to factory and white-collar workers, plant closures in North America and the elimination of several car models as it tries to transform into a nimble company focused on high-margin SUV, crossovers and trucks and investments in future products like electric and […]

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GM looks to cut costs by offering buyouts to 18,000 employees

General Motors has offered voluntary buyouts to 18,000 salaried employees in North America who have at least 12 years of experience, as the automaker looks to cut costs all while investing in its electric and autonomous future. The company has described this as a proactive measure aimed at preparing for coming headwinds such as  slow […]

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Honda commits $2.75 billion in partnership with GM’s Cruise

Honda will commit $2.75 billion as part of an agreement with GM’s self-driving technology subsidiary Cruise to develop a new autonomous vehicle. The vehicle will be produced at high volume for global deployment, the companies said in announcement Wednesday. As part of the agreement, Honda will invest $2 billion over the next 12 years into the effort. […]

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GM’s Mary Barra outlines EV plans as LG Electronics plant prepares to come online

GM is poised to build more all-electric vehicles as improvements continue at its recently expanded battery lab and a new LG Electronics plant in Michigan comes online, according to the automaker’s chairman and CEO Mary Barra . The LG Electronics facility in Hazel Park will start making battery packs this fall to supply GM’s Orion Assembly […]

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In recruiting win, GM’s Cruise employees offered equity in Cruise

In what will be seen as a big recruiting and retention win for Cruise, employees will be offered equity in GM’s self-driving technology subsidiary rather than shares of GM. The securities offering was disclosed in a recent SEC filing for GM Cruise Holdings LLC. The filing, which also lists the initial officers of GM Cruise […]

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GM’s Cruise gets $2.25b from SoftBank’s Vision Fund, $1.1b from GM

General Motors today announced a large investment into its self-driving unit, Cruise. SoftBank’s Vision Fund will invest $2.25 billion in GM Cruise Holdings LLC and when the deal closes, GM will invest an additional $1.1 billion. The investments are expected to inject enough capital into Cruise for the unit to reach commercialization at scale beginning in 2019. […]

View More GM’s Cruise gets $2.25b from SoftBank’s Vision Fund, $1.1b from GM