David Welch

Business, Technology, Fuel, Autonomous

Cruise, BrightDrop Explore Self-Driving Electric Vans

BrightDrop van BrightDrop

Cruise, the self-driving startup controlled by General Motors Co., is working with the automaker’s BrightDrop electric van business on a plan to develop autonomous delivery vehicles, people familiar with the matter said.

David Welch | Bloomberg News
May 16, 2022
Business, Equipment, Fuel

Lordstown Motors Again Postpones Deadline for Foxconn Plant Deal

The Lordstown Motors Corp. Endurance electric pickup truck The Lordstown Motors Corp. Endurance electric pickup truck. On May 9, Lordstown signaled delays in plans for mass production of the pickup. (Matthew Hatcher/Bloomberg News)

Electric truck startup Lordstown Motors Corp.’s shares sank as much as 19% after it pushed back a deadline to complete the sale of its Ohio assembly plant to Foxconn.

David Welch | Bloomberg News
May 9, 2022
Business, Technology, Autonomous

GM Buys SoftBank’s $2.1 Billion Stake in Cruise

 A Cruise vehicle in San Francisco, Calif. A Cruise vehicle in San Francisco. (David Paul Morris/Bloomberg News)

General Motors Co. bought out the SoftBank Vision Fund 1’s stake in self-driving startup Cruise for $2.1 billion, ending the Japanese investment firm’s stake in the business and giving the Detroit automaker 80% ownership.

David Welch | Bloomberg News
March 18, 2022
Business, Technology, Fuel

With Pump Prices High, Buy an EV? ‘Lots of Luck’

A Rivian R1T pickup truck The Rivian R1S electric sports utility vehicle. (Patrick T. Fallon/Bloomberg News)

Spiking gasoline prices have hiked Americans’ monthly bills to fuel popular pickups and SUVs by hundreds of dollars, which is leading more consumers to kick the tires on electric vehicles.

David Welch | Bloomberg News
March 10, 2022
Business, Technology, Autonomous

GM’s Cruise Names Interim CEO Vogt Full-Time Chief

Kyle Vogt, founder and chief executive officer of Cruise Automation Kyle Vogt started the business in 2013 and was CEO of Cruise when GM acquired it in 2016. (Patrick T. Fallon/Bloomberg News)

Cruise LLC, the autonomous vehicle company that is majority-owned by General Motors Co., named founder Kyle Vogt its full-time chief executive officer.

David Welch | Bloomberg News
February 28, 2022
Business, Equipment, Safety, Fuel

GM to Resume Bolt Production as Fix Found for Battery Fires

 A Chevrolet Bolt electric vehicle in West Bloomfield, Mich. A Chevrolet Bolt electric vehicle in West Bloomfield, Mich. (Emily Elconin/Bloomberg News)

General Motors Co. will resume production of the Chevrolet Bolt and larger Bolt EUV electric vehicles in April after the automaker and its battery partner, an LG Group company, found a solution to its manufacturing gaffes.

David Welch | Bloomberg News
February 15, 2022
Business

GM Grabs $2 Billion Windfall as Used-Car Prices Hit Record

GM Grabs $2 Billion Windfall as Used-Car Prices Hit Record A Chevrolet Volt on the assembly line at GM's Hamtramck Assembly plant. (Paul Sancya/Associated Press)

There’s a big upside to record used-car prices: auto lenders such as GM Financial are cashing in.

David Welch | Bloomberg News
February 2, 2022
Business, Technology, Safety, Autonomous

GM’s Cruise Begins Offering Driverless Rides

A volunteer loads bags of food into a Cruise LLC self-driving training car A volunteer loads bags of food into a Cruise LLC self-driving training car at the San Francisco-Marin Food Bank in San Francisco. (David Paul Morris/Bloomberg News)

Cruise LLC, the self-driving car startup that is majority owned by General Motors Co., is offering free rides to nonemployees in San Francisco for the first time, a move that triggers another $1.35 billion from investor SoftBank Vision Fund.

David Welch | Bloomberg News
February 1, 2022
Business, Technology, Fuel

GM’s $6.5 Billion Electric Truck Blitz Wins Michigan Incentives

The General Motors Orion Assembly plant in Orion Township, Michigan. The General Motors Orion Assembly plant in Orion Township, Michigan. (Jeff Kowalsky/Bloomberg News)

General Motors Co. plans to spend $6.5 billion on an electric pickup plant and battery factory in Michigan thanks in part to a $1.8 billion incentive package put together by the state to make sure the automaker didn’t take a big piece of its EV business elsewhere.

David Welch | Bloomberg News
January 25, 2022
Business, Technology, Equipment, Fuel

Makers of Electric Pickups Target Work Truck Crowd

Rivian pickup Rivian's R1T pickup truck. (Bloomberg News)

Automakers are targeting the job site with electric pickup trucks.

David Welch | Bloomberg News
January 14, 2022

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