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The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. The union at the plant in the central city of Silao must hold the vote before Aug. 20, the Labor Ministry said in a statement. The law requires contract ratification votes nationwide to ensure workers are not bound to contracts that were signed behind their backs between companies and unions. Mexico's Labor Ministry on May 11 had ordered the GM union to hold a new vote within 30 days. GM workers in Silao are represented by the Miguel Trujillo Lopez union, which is affiliated with the Confederation of Mexican Workers (CTM), one of Mexico's largest and oldest labor organizations.
Persons: Rebecca Cook, Miguel Trujillo Lopez, Tereso Medina, General Motors, Daina Beth Solomon Organizations: General Motors, REUTERS, Rebecca Cook MEXICO CITY, General Motors Co, Labor Ministry, U.S . Trade Representative, North American Free, Mexico's Labor Ministry, GM, AFL, CIO, Confederation of Mexican Workers, General, Thomson Locations: Detroit , Michigan, U.S, Rebecca Cook MEXICO, Silao, United States, Mexico, Canada
Ex-Tesla president sold stocks worth $247 million since June 10-SEC filing
  + stars: | 2021-06-18 | by ( ) www.reuters.com sentiment -0.98   time to read: +2 min
The filing, which was submitted to the SEC on Tuesday, said that Guillen expected to sell 215,718 shares for $129 million that day, and that he offloaded another 145,289 stocks worth $89.6 million on June 14, and 90,111 stocks worth $55 million on June 10. Guillen, a former Mercedes engineer who was with Tesla since 2010, oversaw the company's entire vehicles business before being named president of the Tesla Heavy Trucking unit in March. Stock options give employees and executives the right to buy their company's stock at a specified price for a certain period of time. When share prices rise above the exercise price, they can buy the stocks at discounted prices. Reporting by Hyunjoo Jin, additional reporting by Jessica DiNapoli Editing by Sonya HepinstallOur Standards: The Thomson Reuters Trust Principles.
Persons: Jerome Guillen, Rebecca Cook BERKELEY, Guillen, Daniel Ives, Tesla, Elon Musk, Hyunjoo Jin, Jessica DiNapoli, Sonya Hepinstall Organizations: Tesla, Service, North American, REUTERS, Securities and Exchange Commission, SEC, Wedbush Securities, Thomson Locations: Detroit , Michigan, Calif
Ex-Tesla president sold stocks worth $274 million since June 10 -SEC filing
  + stars: | 2021-06-18 | by ( ) www.reuters.com sentiment -0.99   time to read: +2 min
Jerome Guillen, Vice President of Tesla Sales and Service, speaks in front of a Tesla S electric car during the press preview day of the North American International Auto Show in Detroit, Michigan January 14, 2014. The filing, which was submitted to the SEC on Tuesday, said that Guillen expected to sell 215,718 shares for $129 million that day, and that he offloaded another 145,289 stocks worth $89.6 million on June 14, and 90,111 stocks worth $55 million on June 10. Guillen, a former Mercedes engineer who was with Tesla since 2010, oversaw the company's entire vehicles business before being named president of the Tesla Heavy Trucking unit in March. Stock options give employees and executives the right to buy their company's stock at a specified price for a certain period of time. When share prices rise above the exercise price, they can buy the stocks at discounted prices.
Persons: Jerome Guillen, Rebecca Cook BERKELEY, Guillen, Daniel Ives, Tesla, Elon Musk, Hyunjoo Jin, Jessica DiNapoli, Sonya Hepinstall Organizations: Tesla, Service, North American, REUTERS, Securities and Exchange Commission, SEC, Wedbush Securities, Reuters Messaging, Thomson Locations: Detroit , Michigan, Calif, BERKELEY
Airport security fast-tracker jumps the IPO line
  + stars: | 2021-06-18 | by ( Lauren Silva Laughlin | ) www.reuters.com + 0.00   time to read: +3 min
Travelers line up at a TSA checkpoint at Detroit Metropolitan Wayne County Airport in Detroit, Michigan, U.S., June 12, 2021. But Clear Secure, the company that uses biometric technology to validate identity and help people to skip the airport security queue, did just fine. But more people paid for Clear’s touchless, frictionless security clearance app, typically $179 a year. At 8 times 2020 revenue, Clear could be worth roughly $2 billion. If that’s the kind of valuation the company sets, it’s not a bad way for investors to get in on a travel rebound.
Persons: Caryn Seidman, Becker, Clear’s, Seidman, Kenneth Cornick, that’s, McAfee, it’s, Richard Beales, Oliver Taslic Organizations: TSA, Detroit Metropolitan Wayne County Airport, REUTERS, Seth Herald, YORK, Reuters, Revenue, Transportation Security, CBS News, Clear, U.S . Securities, Exchange Commission Locations: Detroit , Michigan, U.S, York
Ford to buy EV charging management platform Electriphi
  + stars: | 2021-06-17 | by ( ) www.reuters.com + 0.65   time to read: +1 min
The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File PhotoJune 17 (Reuters) - Ford Motor Co (F.N) said on Thursday it would acquire Electriphi, which provides charging management and fleet monitoring software for electric vehicles, as the carmaker aims to electrify 40% of its automobiles by 2030. California-based Electriphi's platform helps track the real-time status of vehicles, chargers and maintenance services, besides providing fleet electrification. Electriphi's charging management platform will be a part of Ford Pro, the automaker's new stand-alone unit to focus exclusively on commercial and government customers. "By adding Electriphi's existing advanced technology to the Ford Pro electric vehicles and services offering, we can enhance the commercial customer experience and become a single-source solution for fleet depot charging challenges," said chief executive of Ford Pro, Ted Cannis.
Persons: Brendan McDermid, Ted Cannis, Morgan Stanley, Shreyasee Raj, Ramakrishnan M Organizations: North American, REUTERS, Ford Motor, Ford, Ford Pro, Thomson Locations: Detroit , Michigan, U.S, California, Dearborn , Michigan, Bengaluru
Ford to pay $495 mln to Brazilian state of Bahia -report
  + stars: | 2021-06-17 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File PhotoSAO PAULO, June 17 (Reuters) - Ford Motor (F.N) will pay roughly 2.5 billion reais ($495 million) to the state of Bahia after deciding to close its plants in Brazil, newspaper O Estado de S. Paulo reported on Thursday. The Estado newspaper said Ford declined to comment on the matter. In January, Ford decided to close its three plants in Brazil and take pretax charges of about $4.1 billion. Reuters in a report in May found Ford had spent almost $12 billion in Brazil.
Persons: Brendan McDermid, Paulo, Ford, Carolina Mandl, Jason Neely Organizations: North American, REUTERS, SAO PAULO, Ford, Estado, S, Bahia, Reuters, Thomson Locations: Detroit , Michigan, U.S, Bahia, Brazil, Camacari, Estado
DETROIT (Reuters) - General Motors Co on Wednesday boosted its spending on electric and autonomous vehicles, pulled ahead plans for two U.S. battery plants and forecast stronger-than-expected second-quarter profits. As part of the spending, GM said it will build two additional U.S. battery plants by mid-decade, joining plants in northeast Ohio and Spring Hill, Tennessee. GM said details on where those plants will be built will be announced later, but those plants will account for more than half of the latest $8 billion increase in spending. Reuters reported the increased spending plans on Tuesday. While automakers are pouring investment into new electric vehicles in a wide range of segments, sales of electric vehicles remain small relative to the overall global vehicle market, and particularly in the United States.
Persons: Rebecca Cook, Paul Jacobson, GM, AlixPartners, Mary Barra Organizations: DETROIT, General Motors Co, General Motors, REUTERS, GM, Detroit carmaker, Reuters, Ford Motor Co Locations: Detroit , Michigan, U.S, EVs, Ohio, Spring Hill , Tennessee, United States
GM escalates the electric vehicle arms race
  + stars: | 2021-06-16 | by ( Ben Klayman | ) www.reuters.com + 0.00   time to read: +5 min
GM’s additional spending accelerates a global arms race among automakers and technology companies to expand electric vehicle offerings. As of now, electric vehicles represent about 2% of total global vehicle sales, and will be about 24% of total sales by 2030, the consulting firm forecast. But EV sales would need to be 34% of total global sales by 2030 to absorb the expected increase in production. But forecasts for low profits and stranded capacity are not deterring companies from charging ahead in the race to catch electric vehicle industry leader Tesla Inc, the world’s most valuable automaker. As part of the spending, GM said it will build two additional U.S. battery plants by mid-decade, joining plants in northeast Ohio and Spring Hill, Tennessee.
Persons: Rebecca Cook, AlixPartners, Paul Jacobson, ” AlixPartners, Tesla, GM, Mary Barra Organizations: DETROIT, General Motors Co, General Motors, REUTERS, GM, Consulting, Tesla Inc, Detroit carmaker, Reuters, Ford Motor Co Locations: Detroit , Michigan, U.S, EVs, United States, Europe, China, Ohio, Spring Hill , Tennessee
H&R Block — Shares of H&R Block sunk about 9% after the tax preparation company missed Wall Street's fourth-quarter revenue expectations. On Tuesday, the company reported revenue of $2.33 billion, lower than analysts' $2.35 billion estimate. However, H&R Block reported adjusted earnings of $5.16 per share, slightly higher than analysts' $5.13 per share projection. The furniture company reported adjusted earnings of 87 cents per share, beating analysts' earnings expectations of 74 cents per share, according to FactSet. The company also reported revenue of $519.5 million compared with the Street's $498.5 million projection.
Persons: Mary Barra, CNBC's, Wall, Mark Mason, Roblox, , Rosenblatt, Jamie Dimon, Morgan Stanley, Goldman Sachs, Squarespace, Mizuho's Siti Panigrahi, Yun Li, Maggie Fitzgerald, Tanaya Macheel, Jesse Pound Organizations: General Motors Company, GM Global Headquarters, General Motors — GM, Citigroup — Citi, Bloomberg, Oracle —, Oracle, Cruise Line Holdings, Wolfe Research, Kindred Biosciences, Elanco, Research Group, JPMorgan Chase, Technologies, Maxar Technologies, Mizuho, & $ Locations: Detroit , Michigan, Royal Caribbean, Norwegian
EXCLUSIVE GM to boost spending on electric vehicles by 30%
  + stars: | 2021-06-15 | by ( David Shepardson | ) www.reuters.com + 0.00   time to read: +4 min
The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. In November, GM upped its spending plans from $20 billion, a figure that was announced in March before the COVID-19 pandemic shut down the auto industry. The expected announcement of increased spending by GM comes less than a month after rival Ford Motor Co (F.N) upped its EV spending by more than a third to over $30 billion by 2030. GM's ability to benefit from the current $7,500 federal EV tax credit has expired. On May 26, a Senate committee advanced legislation that would boost tax credits to as much as $12,500 for EVs assembled by union workers in the United States.
Persons: Rebecca Cook WASHINGTON, Mary Barra, Nancy Pelosi, Barra, Richard Neal, Frank Pallone, Dan Kildee, Debbie Dingell, WASHINGTON, Joe Biden, Mark Reuss, David Shepardson, Matthew Lewis Organizations: General Motors, REUTERS, General Motors Co, EV, Reuters, GM, Detroit, Ford Motor, U.S, Tesla Inc, Lordstown Motors Corp, Energy, Commerce Committee, Michigan, Washington, Associated Press, Korean, LG Energy, Thomson Locations: Detroit , Michigan, U.S, United States, Ohio, Spring Hill , Tennessee, China, Washington
REUTERS/Rebecca Cook//File PhotoGeneral Motors Co (GM.N) will supply electric batteries and hydrogen fuel cell systems for rail supplier Wabtec Corp's (WAB.N) locomotives, in a move extending the No. Wabtec, based in Pittsburgh, is developing locomotives powered by electric batteries and hydrogen fuel cells in response to rail industry demand to eliminate carbon emissions. It has a test electric locomotive model and intends to build a second generation version, with deliveries starting in 2023. Under the nonbinding memorandum of understanding, GM will supply Ultium electric batteries and Hydrotec hydrogen fuel cell power cubes. "Wabtec's decision to deploy GM's Ultium battery and Hydrotec hydrogen fuel cell systems further validates our advanced technology," GM President Mark Reuss said.
Persons: Rebecca Cook, Rafael Santana, Mark Reuss, Ultium, Wabtec, GM's, Eric Gebhardt Organizations: General Motors, REUTERS, General Motors Co, Wabtec, automaker's, South Korea, LG Energy, Honda, BNSF Railway, Thomson Locations: Detroit , Michigan, U.S, Pittsburgh, South, Ohio, Tennessee, Brownstown , Michigan, California
Hyundai, GM serious about 'flying car' efforts
  + stars: | 2021-06-14 | by ( Ben Klayman | Joseph White | ) www.reuters.com + 0.00   time to read: +2 min
Other automakers developing flying cars either alone or with startups include Toyota Motor Corp, Daimler AG and China’s Geely Automobile Holdings. Morgan Stanley has estimated the total addressable market for urban air mobility could hit $1 trillion by 2040 and $9 trillion by 2050. In 2019, Hyundai, which has a dedicated Urban Air Mobility Division led by Jaiwon Shin, a former NASA engineer, pledged to invest about $1.5 billion in urban air mobility by 2025. Munoz said Hyundai sees its flying cars serving not only residential customers but also transporting commercial cargo. Hyundai does not want to sell flying cars as a simple transaction, but believes it can develop services around the vehicles, Munoz said.
Persons: Jonathan Ernst, Jose Munoz, Munoz, , ” Munoz, ” Pamela Fletcher, Morgan Stanley, Jaiwon Shin Organizations: DETROIT, Hyundai, Co, General Motors, South, North American, REUTERS, Reuters, Toyota Motor Corp, Daimler AG, China’s Geely Automobile Holdings, GM’s Global, , GM, Urban Air Mobility Division, NASA Locations: Detroit , Michigan, U.S, Hyundai North America
REUTERS/Jonathan Ernst/File PhotoHyundai Motor Co (005380.KS) has accelerated efforts around developing "flying cars" and will offer services around those vehicles rather than just selling them, the South Korean automaker's chief operating officer told Reuters. Other automakers, including Toyota(7203.T), General Motors(GM.N), Daimler(DAIGn.DE) and Geely(0175.HK), are developing flying cars alone or with startups. In 2019, Hyundai, whose flying car unit is based in Washington, pledged to invest about $1.5 billion in urban air mobility by 2025. read moreMunoz told Reuters Hyundai sees its flying cars serving not only residential customers, but also transporting commercial cargo. Hyundai does not want to sell flying cars as a simple transaction, but believes it can develop services around the vehicles, Munoz said.
Persons: Jonathan Ernst, Jose Munoz, Hyundai's, Munoz, Morgan Stanley, it's Organizations: North American, REUTERS, Korean, Reuters, Hyundai, Air, Toyota, General Motors, Daimler, HK, Reuters Hyundai, Thomson Locations: Detroit , Michigan, U.S, Hyundai North America, Washington, United States
Detroit becomes 'Jeep City' with first new auto plant in 30 years
  + stars: | 2021-06-11 | by ( ) www.reuters.com + 0.00   time to read: +3 min
A Stellantis assembly worker walks between two 2021 Jeep Grand Cherokee L vehicles on the assembly line at the Detroit Assembly Complex - Mack Plant in Detroit, Michigan, U.S., June 10, 2021. REUTERS/Rebecca CookInside the first new auto assembly plant built in the Motor City since 1991, the smell of hot metal hangs in the air as new Jeep Grand Cherokee L SUVs head down the welding line. The plant, which began building vehicles in March, now is operating three shifts a day, plant manager Michael Brieda said. The new Jeep plant underscores the split personality of the United States vehicle market, where most of the vehicles coming down the Mack assembly line will be sold. The nearby Jefferson North Jeep plant was built in 1991 - and until now was the Motor City's newest assembly plant.
Persons: Mack Plant, Rebecca Cook, Stellantis, General Motors, Michael Brieda, Brieda, Mack, Mario Holmes Organizations: Cherokee, REUTERS, Motor City, Stellantis NV, City, Grand Cherokees, Ford, General, GMC, Detroit City, United, Tesla Inc, Jefferson, Thomson Locations: Detroit, Detroit , Michigan, U.S, Motor, City of Detroit, GMC Acadia, United States, Jefferson North
REUTERS/Rebecca Cook/File PhotoA former president of the United Auto Workers, Gary Jones, on Thursday was sentenced to 28 months in jail for embezzling union funds as part of a larger federal probe into corruption in the union. Jones, who pleaded guilty last June to charges he embezzled more than $1 million, appeared in U.S. District Court in Detroit on Thursday. On Thursday morning, Jones pleaded for mercy from Judge Paul Borman and again apologized to the union and its members. read moreThe UAW said Jones' sentencing brings to a close a "very dark chapter" in the union's history. Jones' predecessor as head of the UAW, Dennis Williams, pleaded guilty to embezzlement of union funds in September and was sentenced to 21 months in prison last month.
Persons: Gary Jones, Rebecca Cook, Jones, Judge Paul Borman, " Jones, Saima Mohsin, Dennis Williams Organizations: United Auto Workers, National Association of, Advancement for Colored, REUTERS, UAW, Internal Revenue Service, U.S, Eastern, Eastern District of Michigan Locations: Detroit , Michigan, U.S, Detroit, Corsicana , Texas, Eastern District, United States
Second UAW president sentenced to 28 months in prison in union corruption probe
  + stars: | 2021-06-10 | by ( Michael Wayland | ) www.cnbc.com sentiment -0.98   time to read: +1 min
Gary Jones, the newly-elected President of the United Auto Workers (UAW), addresses the 37th UAW Constitutional Convention June14, 2018 at Cobo Center in Detroit, Michigan. Gary Jones is the second UAW president to be sentenced as part of a multiyear corruption probe into the prominent American labor union. His sentencing is among the last in the multiyear corruption probe, which has tarnished the union's reputation, created mistrust among its members and led to federal oversight of the UAW. During the hearing, Jones spoke quickly and somewhat emotionally as he apologized to the court, his family and UAW members. "I failed [my family], and I failed the UAW," he said before asking and pleading the judge for his mercy in sentencing.
Persons: Gary Jones, Dennis Williams, Jones Organizations: United Auto Workers, UAW, Convention, Cobo Center, Fiat Chrysler Locations: Detroit , Michigan, DETROIT
GM backs emissions reductions outlined in California agreement
  + stars: | 2021-06-09 | by ( Reuters Staff | ) www.reuters.com sentiment -0.59   time to read: +1 min
FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File PhotoWASHINGTON (Reuters) - General Motors said Wednesday it supports the emissions reductions outlined in a 2019 deal struck between California and other major automakers but wants the federal government to adopt changes to speed the adoption of electric vehicles. The announcement came after GM Chief Executive Mary Barra met with Environmental Protection Agency chief Michael Regan. The Biden administration plans to announce by July proposed revisions to U.S. vehicle fuel economy and greenhouse gas emissions requirements. The requirements are lower than Obama-era rules but higher than the Trump administration’s rollback.
Persons: Rebecca Cook, General Motors, Mary Barra, Michael Regan, Biden, Regan “ Organizations: General Motors, REUTERS, WASHINGTON, General, GM, Environmental Protection Agency, EPA, Ford Motor Co, Honda Motor Co, Volkswagen AG, BMW, Trump Locations: Detroit , Michigan, U.S, California
Yankees' Gerrit Cole doesn't deny using 'Spider Tack'
  + stars: | 2021-06-09 | by ( ) www.reuters.com + 0.00   time to read: +3 min
May 28, 2021; Detroit, Michigan, USA; New York Yankees starting pitcher Gerrit Cole (45) pitches during the first inning against the Detroit Tigers at Comerica Park. Mandatory Credit: Raj Mehta-USA TODAY SportsNew York Yankees right-hander Gerrit Cole didn't deny using foreign substances on the baseball when asked directly about recent claims during a press conference on Tuesday. Minnesota Twins third baseman Josh Donaldson called Cole out late last week as a pitcher who is using an illegal substance. When asked directly if he used Spider Tack, Cole was silent for about five seconds before answering. Cole then gave a meandering answer in which he didn't deny -- or confirm -- he is using Spider Tack, which reportedly is easy to hide while a pitcher is on the mound.
Persons: Gerrit Cole, Raj Mehta, Gerrit Cole didn't, Josh Donaldson, Cole, Tack, Spider, I've, Donaldson, Gerrit Cole's, they've, Josh Organizations: New York Yankees, Detroit Tigers, Comerica Park, USA, Sports New York Yankees, . Minnesota Twins, Athletic, Major League Baseball, Twins, MLB, Wednesday, Tampa Bay Rays, Pittsburgh Pirates, Houston Astros, Yankees, Thomson Locations: Detroit , Michigan, USA
Ford to offer new Maverick compact pickup standard as hybrid
  + stars: | 2021-06-08 | by ( Ben Klayman | ) www.reuters.com + 0.00   time to read: +3 min
The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File PhotoFord Motor Co (F.N) said on Tuesday its new Maverick compact pickup truck will have a gasoline-electric hybrid powertrain as standard equipment, a technology choice aimed at keeping the vehicle's starting price below $20,000. Ford and other global automakers are racing to shift their gas-powered lineups to all electric under pressure from regions like Europe and China to cut vehicle emissions. Ford said there are no current plans for an electric Maverick, although IHS Markit analyst Stephanie Brinley expects it could be added down the road as Ford develops dedicated EV platforms. The hybrid version will get 40 miles per gallon in the city and offer 191 horsepower, Ford said.
Persons: Brendan McDermid, Jim Baumbick, Ford, Joe Biden's, Donald Trump's, Stephanie Brinley, Brinley Organizations: North American, REUTERS, Ford, Motors Co, IHS, Toyota Motor Corp, Thomson Locations: Detroit , Michigan, U.S, Europe, China, Hermosillo , Mexico
Tesla's heavy trucking unit chief leaves company
  + stars: | 2021-06-07 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
Jerome Guillen, Vice President of Tesla Sales and Service, speaks in front of a Tesla S electric car and a charging station (R) during the press preview day of the North American International Auto Show in Detroit, Michigan January 14, 2014. REUTERS/Rebecca CookTesla Inc's (TSLA.O) chief of heavy trucking unit, Jerome Guillen, has left the company, the electric-car maker said on Monday, barely three months after taking over the role. Guillen, who has been with the company for over a decade, was named president of Tesla Heavy Trucking unit in March, with a mandate to lead the company's entry into the heavy trucks market. Guillen previously oversaw the company's entire vehicles business as president of the Automotive unit, a role to which he was appointed in 2018. Tesla is yet to begin delivering its battery-powered Semi electric commercial truck, saying supply constraints could delay its mass production to 2022.
Persons: Jerome Guillen, Rebecca Cook Tesla, Guillen, Tesla Organizations: Tesla, Service, North American, REUTERS, Automotive, Thomson Locations: Detroit , Michigan
Tesla veteran and trucking chief leaves company
  + stars: | 2021-06-07 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
Jerome Guillen, Vice President of Tesla Sales and Service, speaks in front of a Tesla S electric car and a charging station (R) during the press preview day of the North American International Auto Show in Detroit, Michigan January 14, 2014. REUTERS/Rebecca CookLong-time Tesla Inc (TSLA.O) executive Jerome Guillen, who oversaw its Semi electric trucks slated to be launched this year, has left the company, Tesla said on Monday, barely three months after taking over the role. Guillen, who has been with the company for over a decade since starting as a Model S program director in 2010, oversaw Tesla's entire vehicles business before being named president of the Tesla Heavy Trucking unit in March. Tesla is yet to begin delivering its battery-powered Semi electric commercial truck, with Musk saying in recent months that battery cell supply constraints could delay its mass production to 2022. Separately, Musk said on Sunday that Tesla has canceled its longest-range Model S Plaid+, which would use 4680 cells and whose production had been delayed to next year.
Persons: Jerome Guillen, Rebecca Cook Long, Tesla, Guillen, Elon Musk, Dan Levy, Musk, Louis Navellier, RJ Johnson Organizations: Tesla, Service, North American, REUTERS, Suisse, Energy, Thomson Locations: Detroit , Michigan
GM expands Onstar services beyond its vehicle owner base
  + stars: | 2021-06-07 | by ( Joseph White | ) www.reuters.com sentiment -0.99   time to read: +1 min
The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook//File PhotoGeneral Motors Co (GM.N) plans to offer subscriptions for its Onstar Guardian security services to anyone in the United States or Canada who wants to download a smartphone app, expanding beyond owners of GM vehicles in a step to generate recurring revenue. Onstar Guardian services, including roadside assistance and crash response dispatching, will be offered through an Apple or Android smartphone app to people who don't drive GM vehicles for $15 a month after a one-month trial, GM said. read moreOnstar is developing new insurance offers and a data analytics service for fleet operators. GM, in its announcement, did not say how much additional revenue it expects from offering Onstar Guardian beyond the GM vehicle owner population.
Persons: Rebecca Cook, Mary Barra Organizations: General Motors, REUTERS, General Motors Co, Guardian, Apple, GM, Onstar Guardian, Thomson Locations: Detroit , Michigan, U.S, United States, Canada, Onstar
The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. The original vote was led by the Miguel Trujillo Lopez union, an affiliate of the Confederation of Mexican Workers (CTM). A labor ministry report last month showed GM workers in Silao were on track to scrap the contract negotiated by CTM. The head of the Miguel Trujillo Lopez union did not reply to requests for comment. (This story corrects name of union on second reference to make it “Miguel Trujillo Lopez” instead of “Miguel Lopez Trujillo” in last paragraph)Our Standards: The Thomson Reuters Trust Principles.
Persons: Rebecca Cook, Biden, Katherine Tai, Miguel Trujillo Lopez, CTM, Carlos Aceves del Olmo, Luisa Maria Alcalde, “ Miguel Trujillo Lopez ”, “ Miguel Lopez Trujillo ” Organizations: General Motors, REUTERS, General Motors Co, GM, U.S, U.S . Trade Representative, of Mexican Workers, Labor, Labor Ministry, Thomson Locations: Detroit , Michigan, U.S, Mexico, Silao, United States, Canada
Ford says it could face $1.3 billion in new penalties after court ruling
  + stars: | 2021-06-03 | by ( Reuters Staff | ) www.reuters.com sentiment -0.97   time to read: 1 min
FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid(Reuters) - Ford Motor Co said Thursday it could face up to $1.3 billion in penalties in a long running dispute over import duties paid on Ford Transit Connect vehicles. 2 U.S. automaker said after the Supreme Court declined to hear its appeal in 2020 it paid increased duties for some prior imports, plus interest. U.S Customs and Border Protection is now seeking additional duties of $181 million and is considering seeking a monetary penalty of “as much as $652 million to $1.3 billion,” Ford said, adding it would vigorously defend its actions.
Persons: Brendan McDermid, ” Ford Organizations: North American, REUTERS, Ford Motor, Ford Transit, U.S Customs and Locations: Detroit , Michigan, U.S
The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File PhotoGeneral Motors Co (GM.N) expects first-half 2021 financial results to be significantly better than forecast earlier as semiconductor chip deliveries pick up in the second quarter, the automaker said on Thursday. Shares of the company, which restarted operations only recently after factories had been idled due to a global semiconductor chips shortage, were up 3% before the bell. "The global semiconductor shortage remains complex and very fluid, but the speed, agility and commitment of our team... has helped us find creative ways," Phil Kienle, GM vice president North America Manufacturing and Labor Relations said. It had previously told investors it expected adjusted earnings before interest and taxes for the first half to be around $5.5 billion.
Persons: Rebecca Cook, Phil Kienle Organizations: General Motors, REUTERS, General Motors Co, Chevrolet Silverado, GMC Sierra, Chevrolet Colorado, GMC, North America Manufacturing, Labor Relations, Thomson Locations: Detroit , Michigan, U.S, Detroit
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