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.
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.
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.
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.
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.
UAW Chief Shawn Fain said the people would have their say, and the workers at General Motors plant in Flint, Michigan are saying “No thanks.” The proposed deal was voted down by a narrow margin, with complaints centering on mandatory overtime, the lauded cost-of-living adjustment and more. Get details at Headlight.News.
As part of the new deal with the UAW, General Motors committed to $13.3 billion in new investment during the life of the contract. One of those is a cheaper Chevrolet Bolt EV, union chief Shawn Fain revealed. Find out more at Headlight.News.
While Ford, General Motors and other makers are scaling back on their EV and battery production plans, Toyota revealed Tuesday it’s doing just the opposite by investing an additional $8 billion into its Toyota Battery Manufacturing North Carolina facility. Get the details at Headlight.News.
And then there were none. Less than 24 hours after the UAW went on strike at General Motors plant in Spring Hill, Tennessee the two sides got a deal done. Details are sparse, but it’s safe to assume there’s a 25% raise in the deal. Find out more at Headlight.News.
Ending a nearly six-week walkout, Ford reached a tentative settlement with the United Auto Workers union providing it a 25% raise — its best deal in more than two decades. Now, the UAW has to wrap up talks with General Motors and Stellantis, but there are potential sticking points that could drag things out, reports Headlight.News.
Just about 18 months after announcing a $5 billion partnership to develop affordable electric vehicles, General Motors and Honda ended the deal. Find out what changed to cause the split at Headlight.News.