GM Chair and CEO Mary Barra told reporters Monday evening the company remains focused on its coming array of EVs, and that hybrids are not on the agenda — for the U.S. anyway. She also dispelled any notion of a looming retirement. Find out what else she said at Headlight.News.
In recent days, several automotive executives have discussed scaling back their EV and battery production plans and started talking up the advantages of hybrids. Much of this was tied to thoughts that company’s overestimated the demand for electric vehicles, especially in light of the flattening of sales in recent months. GM CFO Paul Jacobson pumped the brakes on that notion. Get details at Headlight.News.
The Biden admin. may give a critical boost to the auto industry as sales of battery-electric vehicles slow, temporarily lifting rules sharply curtailing the number of EVs qualifying for federal tax credits. But the senator who introduced the restrictions says he’ll fight any rollback, reports Headlight.News.
Apparently the strike against General Motors by the UAW didn’t hit the company’s bottom line too badly. The Detroit-based automaker reinstated the full-year guidance it offer before the union’s walkout. Not only that, the company’s implementing a $10 billion accelerated share repurchase program. Get details at Headlight.News.
With EV sales growth slowing down, General Motors “is currently assessing” its massive investment in battery-electric vehicles. And, while it remains committed to CEO Mary Barra’s “path to an all-electric future,” it will shift more emphasis to the hybrids and plug-ins it was planning to abandon. And other automakers, including Ford and Stellantis, are likewise shifting direction. If anything, this validates Toyota’s strategy calling for a mix of EVs, hybrids and PHEVs, reports Headlight.News.
General Motors continues looking at its business with a critical eye, planning to cut back its spending on its robocab subsidiary Cruise. The company recently revealed plans to slow its cadence on electric vehicle introductions. The new cuts come after a Cruise robocab was involved in a collision with a pedestrian. Get details at Headlight.News.
Cruise will slash the number of cities where it’s testing its autonomous vehicle technology in the wake of a serious crash last month. And it is delaying the launch of the driverless robocab it hoped to put on the road next year, the General Motors subsidiary announced. Headlight.News has the latest.
Ford will cut its projected investment in a new EV battery plant in Marshall, Michigan by $1 billion while also cutting back on the number of workers it expects to hire, the automaker confirmed Tuesday. The plant will roll out barely half as many batteries as originally expected, reports Headlight.News.
Kyle Vogt is out as CEO of Cruise, GM’s robocab subsidiary. The move comes barely two months after a near fatal crash that many blame on a culture that downplays risk. Vogt took responsibility for the company’s current mess before tendering his resignation. Headlight.News looks at Cruise’s troubles and where it goes next.
Less than 24 hours after the contract between General Motors and the UAW was ratified by workers, Stellantis workers followed suit. The voting isn’t complete yet, but the number of “yes” votes is too high to be overcome by “no” votes. Ford isn’t far behind. Get details at Headlight.News.
In a surprise to many, the tentative deal between General Motors and the United Auto Workers was a close vote that, at one point, looked like it might fail. However, the final vote is in and the workers approved a new 4.5-year contract. Get details at Headlight.News.
The 150,000 UAW members at Detroit’s Big Three aren’t the only ones benefitting from their new contracts with General Motors, Ford and Stellantis. Three foreign-owned manufacturers have announced similar wage hikes for their own U.S. workers — hoping to keep them non-union. Find out more at Headlight.News.