Latest News Updates From David Welch

GM is pushing into stationary electricity storage through a partnership with startup Peak Energy Technologies, tapping into a growing market fueled by AI demand.

Union workers at axle supplier Dauch walked off the job in a labor dispute. GM has enough of the parts on hand to last about two weeks, a spokesman said. 

The cuts come as the automaker works to grow profits even as U.S. sales stagnated to start the year.

Sales of GM’s Chevrolet Silverado and GMC Sierra pickups, its largest profit generators, remained strong despite gas prices surging above $4 a gallon.

The company will run additional hours at its Flint, Mich., factory starting in June, but doesn’t plan to add more workers.

Carvana's shares tumbled after it posted strong profit growth in the fourth quarter that still missed Wall Street’s estimates due to higher-than-expected operating costs.

Autonomous startup Gatik signed a deal with a major consumer goods company that will double its contracted revenue to $600 million, helping to build out its business in the U.S. and Canada.

GM’s new guidance rests on selling more of its largest trucks and SUVs such as its GMC Sierra and Cadillac Escalade — and fewer electric vehicles.

The Detroit-based manufacturer also said it will likely end output of its all-electric Chevrolet Bolt that’s built in the Kansas plant in about a year and a half.

General Motors will take another $6 billion in charges tied to production cutbacks in its EV and battery operations as the financial fallout spreads from the weakening U.S. market for EVs.