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☆ Software startup Recurrent helps used EV buyers know how much life is left in a vehicle
▼ + stars: | 2024-03-25 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

The used car market is more than twice the size of the new car market, and EVs are fast becoming a part of it. The battery is a significant component of an EV, because the cost of replacing it can exceed the value of the used car itself. "It's similar to how everyone in the used car ecosystem needs to know the odometer of a used combustion engine car," Case said. As the used EV market grows, this technology, which so far has no U.S. competition, is attractive to investors. In addition to Wireframe Ventures, Recurrent is backed by ArcTern Ventures, Powerhouse Ventures and EnerTech Capital.

Persons: Scott Case, Paul Straub, Case Organizations: Consumers, CNBC, EV, Wireframe Ventures, ArcTern Ventures, Powerhouse Ventures, EnerTech Locations: Seattle

☆ Read the Class Action Complaint Against G.M. and LexisNexis Risk Solutions
▼ + stars: | 2024-03-14 | by ( ) www.nytimes.com time to read: +2 min

On March 11, 2024, the New York Times reported an investigative piece about this exact issue.² The article highlights individuals who have had their insurance rates increase due to Lexis publishing, among others, General Motors car drivers' data. For one consumer "[i]t felt like a betrayal" because GM took "information that [he] didn't realize was going to be shared[.]" In recent years, automakers, including G.M., Honda, Kia and Hyundaí, have started offering optional features in their connected-car apps that rate people's driving. Some drivers may not realize that, if they turn on these features, the car companies then give information about how they drive to data brokers like LexisNexis... Especially troubling is that some drivers with vehicles made by G.M.

Persons: G.M, Last Organizations: New York Times, Lexis, General Motors, Honda, Kia, LexisNexis, Chevrolet, Smart

☆ Your car might be secretly recording every drive you take — and sending it to your insurance company
▼ + stars: | 2024-03-11 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Read previewYour driving habits aren't as private as you think they are, according to a recent report from The New York Times. Internet-connected vehicles can gather data on driving habits, including hard braking and rapid accelerations, and share that information with data broker LexisNexis, which works with insurance companies to create personalized coverage. AdvertisementGeneral Motors's OnStar Smart Driver service is a focus of the Times report. Some drivers who were enrolled in Smart Driver told the Times that their insurance costs went up. If you own a GM car (Chevrolet, Cadillac, Buick, or GMC) with OnStar services, you can check on whether you're enrolled in Smart Driver in your car's app — MyChevrolet, MyBuick, etc.

Persons: —, Motors's OnStar Organizations: Service, The New York Times, LexisNexis, Business, Chevrolet Bolt, The Times, Smart Driver, Times, GM, Smart, Chevrolet, Cadillac, Buick, GMC Locations: OnStar

☆ GM, Google exploring ways to use AI across automaker’s business
▼ + stars: | 2023-08-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021. DETROIT – General Motors is working with Google to explore opportunities to implement AI technologies across the automaker's business, the companies announced Tuesday. The IVA system is powered by "intent-recognition algorithms" that use Google Cloud's conversational AI technologies, providing OnStar users with responses to common inquiries, as well as routing and navigation assistance, GM said Tuesday. Some use cases could include vehicle validation, software and in-car assistance such as the OnStar service. GM previously said it was exploring uses for ChatGPT as part of its broader collaboration with Microsoft .

Persons: IVA, Mike Abbott, Mercedes Organizations: General Motors, DETROIT –, Google, Detroit, GM's, GM, Apple, ChatGPT, Microsoft, Mercedes, Benz, U.S Locations: Detroit , Michigan, DETROIT

DETROIT, May 10 (Reuters) - General Motors Co (GM.N) will consolidate North American sales operations for commercial vehicles, parts and telematics services under a new brand umbrella, GM Envolve, that will compete with Ford Motor Co's (F.N) Ford Pro unit and others for revenue from business vehicle fleets. GM executives said the reorganization is aimed at making it easier for commercial fleet customers to negotiate electric and combustion vehicle purchases and sign up for services and software offerings that GM is developing to generate revenue after the vehicle sale. GM is battling with Ford and Stellantis NV for a bigger share of the commercial fleet market. Ford created its Ford Pro commercial fleet unit in May 2021, and is aiming to increase its annual revenue to $45 billion by 2025, driven in part by software-enabled services. Both Ford and GM say they are leaders in commercial fleet sales, using different definitions of the market.

☆ Ford taps masses of vehicle data to stay ahead in commercial van market
▼ + stars: | 2023-03-06 | by ( Nick Carey | ) www.reuters.com time to read: +5 min

Ford, which leads the commercial vehicle market in both Europe and the United States, launched the system in 2021. Hans Schep, European head of Ford Pro, the company's commercial vehicle business, said it is already close to hitting long-term targets of increasing vehicle "up time" by up to 60%. Ford recently announced engineering job cuts in Europe, but is still hiring software experts for its data services. Data is a huge battleground for commercial vehicle makers and competition will only intensify with electric models, which are essentially computers on wheels. Starting with 2024 models, GM will provide a range of OnStar data services free for fleet vehicles.

☆ Wall Street wants updates on EVs and short-term guidance from GM's investor day
▼ + stars: | 2022-11-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. GM will look to address such concerns during an investor event, which kicks off at 1 p.m. Analyst are expected to press executives on updates to its previously announced plans, short-term guidance and potential macro-offsets in the years ahead, especially in 2023. "At the last Investor Day, GM promised ICE-like EV margins by 2030. The company also has plans for capacity of 1 million EVs in China by then as well.

☆ GM takes on Tesla in home and commercial energy storage, management
▼ + stars: | 2022-10-11 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

REUTERS/Kevin Lamarque/File PhotoDETROIT, Oct 11 (Reuters) - General Motors Co (GM.N) is expanding beyond car making, with plans to offer energy storage and management services to residential and commercial customers through its new GM Energy unit in a move that puts it in even greater competition with Tesla Inc (TSLA.O). "We're getting into the entire ecosystem of energy management," GM executive Travis Hester said in an interview. Hester said GM sees a total addressable market of $120 billion to $150 billion in energy storage and management. He declined to provide a revenue projection for GM Energy. GM's commercial service will offer similar capability to businesses, through larger stationary storage units as well as microgrids connected to hydrogen fuel cells developed by the automaker.

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