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REUTERS/Rebecca Cook/File Photo/File Photo Acquire Licensing RightsWASHINGTON, Dec 1 (Reuters) - The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year. The FEOC rules come into effect in 2024 for completed batteries and 2025 for critical minerals used to produce them. Treasury said the few materials being exempted each account for less than 2% of the value of battery critical minerals. The rules are expected to further reduce the number of electric vehicles eligible for EV tax credits. Earlier this year, new battery and mineral sourcing requirements took effect with price and buyer income eligibility caps from Jan. 1.

Persons: Rebecca Cook, Biden, Joe Manchin, Manchin, David Shepardson, David Lawder, Chizu Organizations: Motors, Bolt, Orion Assembly, REUTERS, Rights, U.S, Treasury, Alliance, Automotive Innovation, Ford Motor, The Energy Department, Companies, Energy, Thomson Locations: Lake Orion , Michigan, U.S, China, Michigan, North Korea, Russia, Iran, North America, Washington

That law, supported by Biden and congressional Democrats, created tax credits to boost domestic EV manufacturing. "The point is that they're manufacturing jobs, whether they be baskets or batteries." A Trump spokesperson pointed Reuters to a recent policy announcement in which the former president said EV manufacturing would harm workers. Biden's campaign pointed Reuters to a statement from Kevin Munoz, a campaign spokesman, who said Trump's plan would mean more Chinese EV manufacturing jobs and fewer American jobs. Still, Ciscomani, who did not respond to comment requests, has generally welcomed individual EV projects, and toured a local EV plant in August.

Persons: Rebecca Cook, Donald Trump, Ron DeSantis, Joe Biden, Biden, Trump, Mike Morey, SKDK, Andrew Reagan, Kirsten Engel, EVs, Jesse Williams, Joe, Anna Kelly, DeSantis, Kevin Munoz, Munoz, Brian Kemp, Wendy Davis, Engel, Juan Ciscomani, Ciscomani, Gram Slattery, Nichola Groom, Jarrett Renshaw, Alistair Bell Organizations: General Motors, Bolt, Orion Assembly, REUTERS, Rights, Florida, Democratic, Republican, EV, Power, Reuters, Democrats, Energy, America, Environmental Defense Fund, Biden, RMI, Republican Party, Trump, United Auto Workers, UAW, Republican National Committee, United States, Climate Power, League of Conservation Voters, Thomson Locations: Lake Orion , Michigan, U.S, Georgia , Arizona , Nevada, Michigan, Wisconsin , Pennsylvania, North Carolina, Michigan , Georgia, Arizona, America, North America, Decatur County , Georgia, China, South, United, Georgia, Rome , Georgia, Washington, Los Angeles

☆ GM-UAW agreement expected to include more affordable Bolt EUV
▼ + stars: | 2023-11-06 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

General Motors assembly workers connect a battery pack underneath a partially assembled 2018 Chevrolet Bolt EV vehicle on the assembly line at Orion Assembly in Lake Orion, Michigan, U.S., March 19, 2018. GM said on Monday it would not comment on the tentative agreement pending ratification by the UAW. The UAW summary did not specify products or timing for GM's Fairfax and Lansing plants. GM currently builds the Chevrolet Malibu and Cadillac XT at Fairfax and the Cadillac CT4 and CT5 and Chevrolet Camaro in Lansing. Chief Executive Officer Mary Barra has said the current Bolt will be phased out of production at the end of this year.

Persons: Rebecca Cook, GM's Fairfax, Mary Barra, Ford, ”, Bill Rinna, “ BEV, Sam Fiorani, Stellantis, Paul Lienert, Matthew Lewis Organizations: Motors, Bolt, Orion Assembly, REUTERS, Rights DETROIT, General Motors, Chevrolet, Cadillac, Reuters, UAW, GM, Chevrolet Malibu, Fairfax, Ford, AutoForecast Solutions, Thomson Locations: Lake Orion , Michigan, U.S, Kansas, Michigan, Lansing, Fairfax , Kansas, Fairfax, Lansing ., Detroit

☆ GM is expected to invest $13 billion in U.S. facilities under new UAW deal
▼ + stars: | 2023-11-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors plans to invest roughly $13 billion in U.S. facilities by April 2028, the United Auto Workers union said as part of its recent tentative agreement with the automaker. GM has already announced some of the planned investments such as $4 billion at Orion Assembly in suburban Detroit and $2 billion in Spring Hill, Tennessee, for new electric vehicles. GM was the last Detroit automaker to reach a tentative agreement following Ford Motor and Chrysler-parent Stellantis . GM's U.S. investments through the terms of the 4 ½-tear tentative compared to $8.1 billion announced by the union at Ford and $18.9 billion at Stellantis, including $6.2 billion in previously announced parts plants in Kokomo, Indiana. The details disclosed by the union for GM did not include billions in previously announced investments in four joint-venture battery cell plants in the U.S., including three upcoming facilities.

Persons: Mary Barra Organizations: United Auto Workers, UAW, General Motors, DETROIT –, Motors, GM, Orion Assembly, Detroit, Ford Motor, Chrysler, Ford Locations: Arlington , Texas, DETROIT, Detroit, Spring Hill , Tennessee, Lansing Grand, U.S, Kokomo , Indiana

☆ GM to delay all-electric truck production at Michigan plant until late-2025
▼ + stars: | 2023-10-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. A GM spokesman did not immediately respond to a request for comment regarding the company's EV production target. Alongside the Silverado EV, Factory Zero is currently building the GMC Hummer EV pickup and SUV and Cruise Origin shuttle. The plant was expected to be its second U.S. assembly plant to exclusively produce EVs. Roughly 1,000 hourly workers at Orion Assembly will have the option to transfer to other Michigan facilities until the retooling at Orion Assembly is completed.

Persons: Kimberly Fuhr, Motors, GM's Organizations: UAW Local, Bolt, General Motors Orion Assembly, DETROIT –, GM, Orion Assembly, Motors, Orion, United Auto Workers, UAW, Chevrolet Silverado, GMC, Silverado, Silverado EV, CNBC Locations: Orion Township , Michigan, DETROIT, Michigan, Detroit, North, Sierra

☆ GM postpones electric truck production
▼ + stars: | 2023-10-17 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —General Motors is putting off adding a second factory for production of its electric pickups until late 2025, the automaker announced Tuesday. But GM had planned to start producing the electric pickups at an additional Michigan factory, Orion Assembly just north of Detroit, as well. Instead, when those electric vehicles go out of production at the end of this year, the factory will not shift quickly to making the trucks. General MotorsGM’s decision will result in fewer electric pickups being built next year but the automaker declined to discuss the extent of a reduction. GM had announced, in 2022, that it would spend $4 billion to convert Orion Assembly to make the electric trucks.

Persons: Bolt, Ford, Joseph Yoon, GM Organizations: CNN —, Motors, Silverado, Hamtramck Assembly, GMC Hummer, GMC Sierra EV, GM, Orion Assembly, Chevrolet Bolt, United Auto Workers, Orion, Chevrolet Silverado EV, General Motors, UAW, Ford, ”, Edmunds.com Locations: Detroit, Michigan

☆ GM offers 10% wage increases, $5,500 ratification bonuses to UAW as strike looms
▼ + stars: | 2023-09-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

UAW Local 5960 member Kinethia Black fills the brakes of a 2022 Chevrolet Bolt EUV during vehicle production on Thursday, May 6, 2021 at the General Motors Orion Assembly Plant in Orion Township, Michigan. DETROIT – General Motors on Thursday offered its largest four-year wage increase in decades as part of a new contract proposal to the United Auto Workers, as the automaker attempts to avoid another costly strike by its unionized workforce. The wage increase for most of GM's roughly 46,000 UAW-represented workers would be 10%, while newer employees would be eligible for up to a 56% increase in wages over the four years of the deal, the company announced Thursday after meeting with union leaders and negotiators. The proposed contract also includes two additional 3% lump sum payments resulting in a total increase of 16%; $5,500 ratification bonus; $6,000 one-time inflation-recognition payment; and $5,000 in inflation-protection bonuses over the life of the agreement (in-progression employees are eligible). The UAW did not immediately respond for comment.

Persons: Kinethia Black, Bolt Organizations: UAW Local, General Motors Orion Assembly, DETROIT –, Motors, United Auto Workers, UAW Locations: Orion Township , Michigan, DETROIT

☆ EV battery plants emerge as wild card issue in UAW contract talks
▼ + stars: | 2023-07-21 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Multibillion-dollar EV battery plants — and their thousands of expected workers — are crucial to the automotive industry's future and uniquely positioned to have wide-ranging implications for the UAW, automakers and President Joe Biden's push toward domestic manufacturing. But UAW leadership has made it a priority to ensure a "just transition" to EVs for auto workers, including the battery plants. Michael Wayland / CNBCEither side could use the battery plants as indirect leverage in the negotiations, according to current and past negotiators from both sides of the table. At GM's Ultium battery plant in Ohio, workers make between $16 and $22 an hour with full benefits, incentives and tuition assistance. Setting a standardThe UAW last week released a white paper detailing some reported safety issues and concerns at the Ultium plant.

Persons: Motors, Steve Fecht, Joe Biden's, they're, Shawn Fain, Jerome Buckley, Michael Wayland, Mary Barra, Nic Antaya, Fain, Biden, Joe Biden, Kinethia Black, Bolt Organizations: Tech Center, General Motors DETROIT, United Auto Workers, UAW, General Motors, Ford Motor, CNBC, EV, GM, Detroit, General Motors Factory, Getty, Ford, General Motors Orion Assembly, Chevrolet Locations: Warren , Michigan, Detroit, Ohio, Detroit , Michigan, Michigan, Orion Township , Michigan

☆ GM to end production of electric Chevy Bolt, its first mass-market EV, later this year
▼ + stars: | 2023-04-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Steve Fecht for ChevroletDETROIT – General Motors plans to stop production of its electric Chevrolet Bolt models by the end of this year, CEO Mary Barra told investors Tuesday when discussing the company's first-quarter earnings. The Chevy Bolt EV and EUV, a larger version of the car, make up the vast majority of the company's electric vehicle sales to date. General Motors CEO Mary Barra unveiled the Chevrolet Bolt electric vehicle during the 2016 Consumer Electronics Show in Las Vegas. But Bolt sales never caught on as well as many executives hoped, as EV sales overall remained minuscule outside of Tesla . The Vermont State Police released this photo of the 2019 Chevrolet Bolt EV that caught fire on July 1, 2021 in the driveway of state Rep. Timothy Briglin, a Democrat.

☆ General Motors will lead a $50 million funding round for lithium extraction startup EnergyX
▼ + stars: | 2023-04-11 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

EnergyX demonstrated its technology with a pilot plant in South America's "Lithium Triangle," an area of salt flats covering parts of Argentina, Bolivia and Chile that contains over half of the world's known lithium reserves. General Motors said Tuesday its venture capital arm will lead a $50 million financing round for EnergyX, a Texas-based startup developing a more efficient method to extract and process lithium from salt flats. The process is relatively cheap, but it only recovers 30% to 40% of the total lithium – while using huge amounts of water and land. EnergyX plans to use the new funding to build five larger demonstration plants in North and South America. For GM, a key priority is to unlock a North American supply of lithium, which isn't cost-competitive with global supplies using current extraction methods.

☆ Treasury Department delays electric vehicle tax credit guidance until March
▼ + stars: | 2022-12-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

The Treasury Department is delaying plans to issue proposed guidance for the sourcing of electric vehicle batteries for federal tax incentives from the end of this month to March. That means some electric vehicles that are not expected to comply with the new standards will continue to be eligible for the credits until the proposed guidance issued. Some have argued the sourcing guidelines for vehicle materials are unrealistic given the current supply chain. Credit for the other $3,750 requires that at least 50% of battery components were manufactured or assembled in North America. Starting Jan. 1, a tax credit will not be available to single individuals with a modified adjusted gross income of $150,000 or higher.

☆ General Motors is set to report earnings before the bell. Here's what Wall Street expects
▼ + stars: | 2022-10-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on Thursday, May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. DETROIT – General Motors is set to report its third-quarter earnings before the bell on Tuesday. Here's what Wall Street is expecting, according to Refinitiv consensus estimates:Adjusted earnings per share: $1.88$1.88 Revenue: $42.22 billionMost investors are expected to look past the Detroit automaker's results during the quarter in favor of any change in guidance or comments regarding larger economic issues. Inflation in particular has already dominated the conversation on Wall Street at the start to earnings season. GM also forecast full-year net automotive cash of between $16 billion and $19 billion and guided to adjusted automotive free cash flow in the range of $7 billion to $9 billion.

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