Business, Technology, Equipment

GM Misses Profit Estimates as Chip Shortage Crimps Output

General Motors Co. reported weaker second-quarter profit than analysts’ estimates as semiconductor shortages kept production volumes in check. The automaker also warned it is bracing for tougher times ahead.

David Welch | Bloomberg News
July 26, 2022
Business, Fuel

With Blazer EV, GM Now Has a Rival to Tesla’s Model Y

General Motors Co. will start selling a battery-powered Chevrolet Blazer next year, giving it a direct competitor to Tesla Inc.’s Model Y, the nation’s best-selling electric SUV.

David Welch | Bloomberg News
July 19, 2022
Business, Technology, Autonomous

Cruise Faces Scrutiny After Snafus

General Motors Co.-backed self-driving startup Cruise is facing scrutiny from U.S. regulators and its own board of directors after a pair of on-road incidents raised questions about how ready the company is to expand its services.

David Welch | Bloomberg News
July 15, 2022
Business, Equipment

Auto Sales Expected to Fall 17% This Year

Vehicle sales in the U.S. are expected to fall 17.3% this year to the lowest level in a decade as semiconductor shortages and other supply chain problems continue to hamper production.

David Welch | Bloomberg News
June 28, 2022
Business, Technology, Fuel, Autonomous

Cruise, BrightDrop Explore Self-Driving Electric Vans

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

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

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’

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

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

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