David Welch

Government, Business, Technology, Fuel

Lordstown Motors Reveals Cash Crisis

 The Lordstown Motors Corp. Endurance electric pickup truck (Matthew Hatcher/Bloomberg News) The Lordstown Motors Corp. Endurance electric pickup truck. (Matthew Hatcher/Bloomberg News)

Lordstown Motors Inc., an electric-vehicle startup that recently went public, said it may not have the cash to get its debut pickup truck to market — and might not last as a company in the next 12 months if it can’t raise more capital.

David Welch | Bloomberg News
June 8, 2021
Business, Technology, Logistics

GM to Beat Profit Targets as Truck Plants Ramp Up

GM's GMC Sierra Denali truck is displayed during an event in Chula Vista, Calif., in January 2019. Sandy Huffaker/Bloomberg News

General Motors Co. will boost output at two truck plants, allowing the company to beat its first-half forecast of $5.5 billion in profit and to hit the high end of its full-year target of around $11 billion.

David Welch | Bloomberg News
June 3, 2021
Business, Fuel

GM to Build Electric Pickup at Detroit Plant

A sign outside the GM Detroit-Hamtramck plant. (Anthony Lanzilote/Bloomberg News) A sign outside GM's Detroit-Hamtramck plant. (Anthony Lanzilote/Bloomberg News)

General Motors Co. is about to enter the electric-pickup battle, announcing April 6 that it will build a battery-powered Chevrolet Silverado model at its Detroit-Hamtramck plant.

David Welch | Bloomberg News
April 6, 2021
Business, Technology, Fuel

EV Maker Lordstown Dips on SEC Look at Short-Seller Claims

The Lordstown Endurance electric pickup truck. (Matthew Hatcher/Bloomberg News) The Lordstown Motors Endurance electric pickup is displayed during an unveiling event in June 2020. (Matthew Hatcher/Bloomberg News)

Electric-truck startup Lordstown Motors Corp. fell in extended trading after reporting it received an inquiry on its operations from the Securities and Exchange Commission.

David Welch | Bloomberg News
March 18, 2021
Business, Technology, Fuel, Autonomous

Electric Last Mile Gets 45,000 Van Orders Amid E-Commerce Boom

Electric Last Mile van Electric Last Mile Inc.

Electric Last Mile Inc., the plug-in delivery van startup that’s in the process of merging with blank check company Forum Merger III Corp., said it has 45,000 preorders and will start production at the former Hummer plant in Indiana in the third quarter.

David Welch | Bloomberg News
March 16, 2021
Business, Technology, Fuel, Autonomous

GM-Backed Cruise Buys Self-Driving Startup Voyage

A Cruise Origin electric driverless shuttle

Cruise, the self-driving technology company that’s majority-owned by General Motors Co., said it acquired autonomous-vehicle startup Voyage, which operates a service in retirement communities.

David Welch | Bloomberg News
March 15, 2021
Business, Technology, Fuel

Lordstown Motors Sinks as Firm That Targeted Nikola Takes Aim

The Lordstown Endurance electric pickup truck. (Matthew Hatcher/Bloomberg News) The Lordstown Endurance electric pickup truck. (Matthew Hatcher/Bloomberg News)

Lordstown Motors Corp. plunged the most in five months after the short-seller whose attack on Nikola Corp. led to its founder’s departure turned its sights on the electric truck startup.

David Welch | Bloomberg News
March 12, 2021
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

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