David Welch

Business, Technology, Autonomous

Lidar Startup AEye Goes Public in $2 Billion SPAC Deal

AEye branded auto AEye Inc. via Facebook

AEye Inc., a startup that makes lidar systems for self-driving vehicles, is going public by merging with blank-check company CF Finance Acquisition Corp. III in a deal valued at $2 billion.

David Welch | Bloomberg News
February 17, 2021
Business, Technology, Fuel

GM’s Mary Barra Boosts Stock as Tech Story Gains Credibility

GM CEO Mary Barra talks with reporters following a meeting with lawmakers at the U.S. Capitol in June 2019. GM CEO Mary Barra talks with reporters following a meeting with lawmakers at the U.S. Capitol in June 2019. (Chip Somodevilla/Getty Images via Bloomberg News)

All General Motors Co. CEO Mary Barra needed to hit a stock record was $27 billion and a bit of braggadocio.

David Welch | Bloomberg News
January 20, 2021
Business, Technology, Autonomous

GM, Microsoft Lead $2 Billion Funding Round for Cruise

A Cruise autonomous vehicle. (David Paul Morris/Bloomberg News) (David Paul Morris/Bloomberg News)

General Motors Co. and Microsoft Corp. are leading a $2 billion investment round in self-driving car startup Cruise in a deal that will bring the software giant’s cloud and edge-computing capabilities to the venture.

David Welch | Bloomberg News
January 19, 2021
Business, Technology, Fuel

GM Changes Corporate Logo to Plug Its EV Strategy

GM's new logo keeps the blue box, but moves to lowercase script to appear more modern. GM's new logo keeps the blue box, but moves to lowercase script to appear more modern. (GM)

General Motors Co. is changing its corporate logo for the first time in 56 years, giving it a new lowercase script that is designed to look more modern.

David Welch | Bloomberg News
January 8, 2021
Business, Technology, Autonomous

Cruise Hires Former Delta Air Executive Gil West as COO

GM's Bolt electric vehicle, with Cruise's autonomous technology installed, is displayed in Detroit. GM's Bolt electric vehicle, with Cruise's autonomous technology installed, is displayed in Detroit. (Paul Sancya/Associated Press)

Cruise, the self-driving car startup majority owned by General Motors Co., has hired former Delta Air Lines Inc. Chief Operating Officer Gil West for the same position as it prepares to start offering paid robotaxi rides in San Francisco.

David Welch | Bloomberg News
January 8, 2021
Business, Technology

Trevor Milton Plans to Remain Top Nikola Owner Post-Lockup Expiration

Signage is displayed outside Nikola Corp. headquarters in Phoenix on Sept. 15. Signage is displayed outside Nikola Corp. headquarters in Phoenix on Sept. 15. (Ash Ponders/Bloomberg News)

Trevor Milton said he remains committed to his Nikola Corp. holding and doesn’t plan to relinquish his position as its largest shareholder even though a restriction has been lifted, addressing speculation that he could divest of his stake in the company he founded and resigned from.

David Welch | Bloomberg News
December 8, 2020
Business, Technology, Autonomous

GM’s Cruise, Walmart Team Up for Driverless Delivery

A Cruise autonomous vehicle is seen with a Walmart-branded bag outside it. Cruise is just the latest partner for Walmart, which has been doing similar self-driving car tests with Waymo and Nuro, as well as pilot programs for drone delivery. (Walmart)

Walmart Inc. is about to team up with Cruise, the self-driving car unit majority-owned by General Motors Co., to experiment with delivering customer orders using driverless vehicles.

David Welch | Bloomberg News
November 10, 2020
Business, Technology, Fuel, Autonomous

General Motors Plans 3,000 Hires for EV Development

A charging plug is connected to a GM Chevrolet Volt electric vehicle. Dania Maxwell/Bloomberg News

General Motors Co. is going on a hiring binge to accelerate its development of electric vehicles.

David Welch | Bloomberg News
November 9, 2020
Business, Technology, Fuel

GM to Plan Third EV Plant in Big Plug-In Bet

An employee works on a Chevrolet Sonic vehicle at the GM plant in Orion Township, Mich., in June 2017. An employee works on a Chevrolet Sonic vehicle at the GM plant in Orion Township, Mich., in June 2017. (Jeff Kowalsky/Bloomberg News)

General Motors Co. is investing more than $2 billion in six U.S. plants, including a makeover of a former Saturn plant in Tennessee into its third factory to produce electric models.

David Welch | Bloomberg News
October 20, 2020
Business, Technology, Fuel

GM Considers Boosting Stake in Nikola in Reworked Deal

Signage is displayed outside Nikola's headquarters in Phoenix on Sept. 15. Signage is displayed outside Nikola's headquarters in Phoenix on Sept. 15. (Ash Ponders/Bloomberg News)

General Motors Co. is considering revisions to its deal with embattled Nikola Corp., according to people familiar with the discussions, and may seek a higher stake in the startup now that its valuation has fallen after allegations of deception.

David Welch | Bloomberg News
October 2, 2020

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