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☆ 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

☆ UAW workers overwhelmingly vote to authorize strikes at GM, Ford, Stellantis
▼ + stars: | 2023-08-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – United Auto Workers members overwhelmingly granted union leaders authorization to strike during ongoing contract negotiations with General Motors , Ford Motor and Stellantis , if warranted. That's in line with support during negotiations four years ago, when 96% of workers who voted supported authorization for a strike. The "strike authorization vote" is part of the union's constitution and viewed as a procedural step in the negotiations. Our goal is to bargain good agreements for our members," UAW President Shawn Fain said Friday during a Facebook Live. And whether or not there's a strike — it's up to Ford, General Motors and Stellantis, because they know what our priorities are.

Persons: Shawn Fain, Fain, Ford, We've Organizations: DETROIT, United Auto Workers, General Motors, Ford Motor, UAW

☆ What Wall Street needs to know about UAW talks, a potential strike, and what it could all cost
▼ + stars: | 2023-08-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

AEG estimates the total economic loss by calculating potential losses to UAW workers, the manufacturers and to the auto industry more broadly if the sides cannot reach tentative agreements before the current contracts expire. $825 millionThe UAW has more than $825 million in its strike fund, which it uses to pay eligible members who are on strike. The strike pay is $500 per week for each member – up from $275 in 2022. Assuming 150,000 or so eligible workers, that's all-in weekly strike pay of about $75 million. The UAW is scheduled to hold a procedural strike authorization vote next week, which would grant union leaders the ability to strike, if warranted.

Persons: Michael Wayland, Warren Buffett's Berkshire Hathaway, Shawn Fain, there's, Melissa Atkins, Kristin Dziczek, Rebecca Cook, Stellantis, Fain, Joe Biden, Leah Millis Organizations: United Auto Workers, General Motors, Hamtramck Assembly, CNBC DETROIT, U.S, GM, Ford Motor, New UAW, UAW, Detroit, Bloomberg News, Federal Reserve Bank of Chicago's, Sterling Heights Assembly, Center for Automotive Research, Fiat Chrysler, Ford, Anderson Economic Group, AEG, Deutsche Bank, Reuters Locations: Detroit, Hamtramck, Omaha, Federal Reserve Bank of Chicago's Detroit, Sterling Heights, Sterling Heights , Michigan, U.S, Michigan, Warren , Michigan

☆ Looming auto workers strike could cost $5 billion in just 10 days, new analysis says
▼ + stars: | 2023-08-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit with Sen. Bernie Sanders, of Vermont, far left, Sept. 25, 2019. "However, with current inventories hovering around only 55 days, the industry looks different than it did during the last UAW strike." The automaker said the strike cost it about $3.6 billion that year in earnings. He said the union has no plans to extend the current contracts to allow for bargaining to continue without a strike, which was previously common practice. AEG's estimates do not include UAW strike pay or assessments for strike pay, unemployment benefits or unemployment taxes, income taxes on wages and other potential effects such as settlement bonuses.

Persons: Sen, Bernie Sanders, Tyler Theile, hasn't, Patrick Anderson, Shawn Fain, Tom Narayan, GM's Organizations: United Auto Workers, General Motors, Hamtramck Assembly, DETROIT, Detroit's Big, UAW, Ford Motor, Anderson Economic Group, AEG, Consumer, Detroit automakers, GM, Automotive Press Association, Ford, RBC Capital Locations: Detroit, Hamtramck, Vermont, Michigan

☆ Biden urges 'fair agreement' between UAW and Detroit automakers that avoids plant closures
▼ + stars: | 2023-08-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

DETROIT – President Joe Biden is calling for a "fair agreement" between the United Auto Workers and Detroit automakers that avoids "painful" plant closures, as the sides engage in contentious contract negotiations for roughly 150,000 unionized U.S. auto workers. Biden – touted as the "most pro-union president" – said Monday that the negotiations provide a "win-win opportunity" for all sides, while calling for a "fair transition to a clean energy future." He also hailed the union's role in creating the American middle class, which he said these new contracts should sustain. I'm asking all sides to work together to forge a fair agreement," Biden said in a statement released by the White House. The UAW considered Biden's statement a win, as union leaders such as Fain have been calling for a "just transition" to all-electric vehicles, which threaten UAW jobs.

Persons: Joe Biden, Biden –, –, —, Biden, Shawn Fain, Stellantis, Fain, Biden's Organizations: UAW, DETROIT, United Auto Workers, Detroit, White, General Motors, Ford Motor, GM, Ford Locations: Warren , Michigan, Illinois

☆ Ford hires Apple veteran to lead consumer software efforts
▼ + stars: | 2023-08-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Ford Motor said Monday that it has hired Apple veteran Peter Stern to lead a newly created division focused on developing and marketing software-enabled customer experiences for the automaker. Stern, who most recently served as vice president of services at Apple, will be president of "Ford Integrated Services." "This is transformational, because the cornerstone of our Ford+ plan is creating incredible customer services and experiences enabled by great hardware and software," Ford CEO Jim Farley said in a release. "There's simply no one in the world better able than Peter Stern to build this strategically vital part of our business." Stern said he will be focused on "customer experiences that feel like magic."

Persons: Peter Stern, Stern, Ford, Jim Farley, There's, Farley Organizations: DETROIT, Ford, Apple, Ford Integrated Services Locations: Washington , DC

Ford CEO Jim Farley announces at a press conference that Ford Motor Company will be partnering with the worlds largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan. DETROIT – U.S. lawmakers are seeking to review a licensing deal between Ford Motor and China-based CATL that would allow the automaker to produce battery cells developed by the global supplier at a planned $3.5 billion plant in Michigan. The new batteries are expected to offer different benefits at a lower cost, assisting Ford in increasing EV production and profit margins. Several hundred of the proposed 2,500 jobs managed by Ford will be staffed by CATL employees from China until the licensing agreement expires in 2038, according to the letter. "Indeed, although the executives of the proposed project will be US-based Ford employees, it appears that the project will rely on CATL employees from the PRC to maintain operations in the long term," the lawmakers wrote.

Persons: Jim Farley, Biden, Tesla Organizations: Ford Motor Company, Technology, Ford Motor, Chinese Communist Party, CCP, Ford, Detroit automaker Locations: China, Marshall , Michigan, Romulus , Michigan, DETROIT – U.S, Michigan

☆ 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 positions new Chevy Trax, Buick Envista crossovers to fill an affordability gap
▼ + stars: | 2023-07-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNT2024 Buick Envista GMDETROIT – General Motors is positioning two new crossovers from Chevrolet and Buick as its answer to affordability issues left by discontinued, cheaper sedans. GM's new 2024 Buick Envista and redesigned 2024 Chevrolet Trax crossovers start at $22,400 and $20,400, respectively. 2024 Chevrolet Trax (left) and 2024 Buick Envista Michael Wayland / CNBCExecutives from Buick and Chevrolet say they expect the vehicles to be among their bestsellers as production ramps up and the crossovers are imported from factories in South Korea. 2024 Buick Envista GMThe new Trax and Envista are sibling vehicles as they share the same platform and have similar interiors and silhouettes. 2024 Chevrolet Trax (right) and 2024 Buick Envista Michael Wayland / CNBC

Persons: Cox, Michelle Krebs, Envista Michael Wayland, Sam Russell, Russell, Chevrolet hasn't, Steve Majoros, Paul Waatti Organizations: DETROIT –, Motors, Chevrolet, Buick, Cox Automotive, GM, Toyota Motor, Hyundai, Trax, CNBC, Silverado, Chevy, Trailblazer Locations: South Korea

☆ Used car prices expected to stabilize following major decline in June
▼ + stars: | 2023-07-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Wholesale used vehicle prices posted their largest decline last month since the beginning of the coronavirus pandemic, as prices are set to stabilize during the second half of this year. Cox Automotive reported Monday a 4.2% decline from May to June in its Manheim Used Vehicle Value Index to 215.1. The decline could help bring used vehicle pricing down for consumers in the months to come, as retail prices traditionally follow changes in wholesale prices. Cox Automotive expects wholesale used vehicle prices to be down roughly 1.1% at the end of this year compared to December 2022. Cox expects the used vehicle wholesale market to experience a "slow and gradual recovery" in prices to pre-pandemic levels by 2028.

Persons: Roger Beasley, Cox, Chris Frey, Jonathan Smoke Organizations: DETROIT –, Cox Automotive Locations: Austin , Texas, DETROIT

☆ EV sales: Hyundai overtakes GM, but Tesla's U.S. dominance continues
▼ + stars: | 2023-07-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Meanwhile, Hyundai — including the Kia brand that's owned by the same parent company — increased its EV sales by roughly 11% during that time to 38,457 units. GM, which was second in EV sales through the first quarter, more than quadrupled electric car and truck sales to 36,322 units through June compared with a year earlier. And Volkswagen more than doubled EV sales to 26,538 units sold through June. Scott Mlyn | CNBCGM's EV sales thus far have been disappointing, especially when it comes to new models with the automaker's "Ultium" battery technologies. Correction: GM was second in EV sales through the first quarter of this year.

Persons: Brandon Bell, Tesla, Andrew Frick, hasn't, Elon Musk, Musk, disappoints Hyundai's, Randy Parker, we're, Parker, Scott Mlyn, Cadillac Lyriq, Mary Barra, Barra, It's, —, Phil LeBeau, Lora Kolodny Organizations: Getty, Hyundai Motor, General Motors, Motor Intelligence, Hyundai, Kia, GM, Ford Motor, EV, Ford, U.S, Automotive, Biden, Hyundai Motor America, New York Auto Show, CNBC, GMC Hummer, Cadillac, Chevrolet, Aspen Ideas, Chevrolet Silverado, Detroit Locations: Austin , Texas, U.S, Mexican, Texas, North America, South Korea

Ford Motor Company's electric F-150 Lightning on the production line at their Rouge Electric Vehicle Center in Dearborn, Michigan on September 8, 2022. DETROIT – Ford Motor 's second-quarter sales increased 9.9% from a year earlier, spurred by significant sales gains of its F-Series trucks. "Our EV sales continue to grow. Improved Mustang Mach-E inventory flow began to hit at the end of Q2 following the retooling of our plant earlier this year, which helped Mustang Mach-E sales climb 110% in June." Ford's electric vehicle sales remain small for now: EVs represented just 2.8% of the automaker's total sales during the second quarter, while traditional internal combustion engines represented roughly 91% of sales.

Persons: Ford, Andrew Frick, EVs Organizations: Ford, Electric Vehicle, DETROIT, Detroit, EV Locations: Dearborn , Michigan

☆ GM second-quarter sales increase 18.8% as supply chain stabilizes
▼ + stars: | 2023-07-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors' U.S. vehicle sales increased by 18.8% in the second quarter compared to subdued results a year ago when the automaker was battling supply chain issues. Auto industry forecasters project industry sales to have increased 16% to 18% during the second quarter compared to a year earlier. GM said retail sales increased 15% through the first half of the year, while its fleet business jumped 30%. GM's EV sales topped 36,300 during the first half of this year, including 15,652 in the second quarter. The company previously said it planned to produce 50,000 EVs during the first half of the year, followed by 100,000 during the second half of the year.

Persons: GM's Organizations: DETROIT, Motors, U.S, Detroit, Honda Motor, Nissan Motor, Auto, Cox Automotive, GM, Detroit carmaker, Toyota Motor, Toyota Locations: U.S

☆ Dodge Durango, Jeep SUVs push Stellantis second-quarter sales up 6.4%
▼ + stars: | 2023-07-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Higher sales of the Chrysler Pacifica minivan and Jeep Compass and Dodge Durango SUVs pushed Stellantis' second-quarter U.S. new vehicle sales up 6.4% from a year earlier. Stellantis reported second-quarter sales of 434,648 vehicles, up from 408,521 cars and trucks a year earlier. Stellantis' results come after other legacy automakers reported second-quarter sales increases, and electric vehicle makers Tesla and Rivian reported deliveries that topped analyst quarterly expectations. Honda Motor and Nissan Motor on Monday both reported double-digit second-quarter sales increases of roughly 45% and 33%, respectively, compared to a year earlier. Other automakers such as General Motors and Ford Motor are expected to report second quarter sales later this week.

Persons: Stellantis, Jeff Kommor Organizations: DETROIT –, Chrysler Pacifica minivan, Jeep Compass, Dodge Durango, Pacifica, Cox Automotive, Honda Motor, Nissan, Hyundai Motor, Motors, Ford Locations: Durango

☆ Toyota defies skeptics as stock seals best week since 2009
▼ + stars: | 2023-06-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Toyota Motor stock sealed its best week since 2009 on Friday, as the automaker laid out a robust plan for future all-electric vehicles and company scion Akio Toyoda became leader of the Japanese company's board. Shares of Toyota on the New York Stock Exchange closed Friday at $164.35 per share, down 2.3% for the day but still up 10.6% on the week. That 5-day gain is the stock's best week since April 2009 when shares increased 14.5%. It's only the third double-digit weekly gain in more than two decades for the relatively well-performing but mundane stock. Shares of the company are up 20% so far in 2023.

Persons: Akio Toyoda, Toyoda, Koji Sato Organizations: DETROIT, Toyota, New York Stock Exchange, Prius Prime Locations: EVs

☆ Toyota stock having best week since 2009 after annual meeting, new EV goals
▼ + stars: | 2023-06-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Toyota Motor's stock is having its best week since 2009 following the company disclosing plans for its next-generation electric vehicles and shareholders voting in favor of its new leadership, including former CEO Akio Toyoda as chairman. If shares can retain their current momentum, it would be the stock's best week since April 2009 when they increased 14.5%. Ahead of its annual meeting Wednesday, Toyota outlined plans for a new generation of EVs to rival industry leaders Tesla and China-based BYD . The company said it plans to launch its next-generation EVs starting in 2026, including vehicles with highly touted "solid-state batteries" by 2027 or 2028. Solid-state batteries can be lighter, with greater energy density and provide more range at a lower cost than today's EVs with lithium-ion batteries.

Persons: Akio Toyoda, Tesla Organizations: DETROIT, Toyota, New York Stock Exchange Locations: China

☆ GM to invest $632 million to produce next-generation pickups in Indiana
▼ + stars: | 2023-06-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Trucks come off the assembly line at GM's Chevrolet Silverado and GMC Sierra pickup truck plant in Fort Wayne, Indiana, July 25, 2018. DETROIT – General Motors announced plans Monday to invest $632 million for production of its next-generation full-size pickup trucks at a plant in Indiana. GM said the investment in its Fort Wayne plant in Indiana will support new conveyors, tooling and equipment in the plant's body and general assembly areas for production of the Chevrolet Silverado and GMC Sierra 1500 models. The investment in Indiana is further confirmation that the company plans to continue to spend on its traditional operations to assist in funding its emerging electric vehicle business. The investment announcements come ahead of contract negotiations between the Detroit automakers, including GM, and the United Auto Workers union this summer.

Persons: Trucks, GM's Organizations: Chevrolet Silverado, GMC, DETROIT – General Motors, GM, Silverado, Sierra Denali, Detroit, United Auto Workers Locations: Fort Wayne , Indiana, DETROIT, Indiana, Fort Wayne

☆ GM to invest $500 million to build next-generation Cadillac Escalade, other large SUVs
▼ + stars: | 2023-06-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors plans to invest more than $500 million in a plant in Texas to prepare the facility for production of its highly profitable next-generation large SUVs. GM on Monday made a similar announcement for its next-generation heavy-duty pickups, which share the frame of the large SUVS. The truck investment included more than $1 billion in two Michigan plants for production of next-generation heavy-duty trucks. The automaker recently confirmed an all-electric version of its Cadillac Escalade but declined to disclose when the vehicle will come to market. The investment announcements come ahead of contract negotiations between the Detroit automakers, including GM, and the United Auto Workers union this summer.

Organizations: General Motors Co, DETROIT –, Motors, Detroit, Chevrolet Tahoe, GMC Yukon, Yukon XL, GM, United Auto Workers, UAW Locations: Arlington , Texas, DETROIT, Texas, Arlington, Yukon, Michigan, EVs

☆ Used car prices are falling as sales soften amid high interest rates
▼ + stars: | 2023-06-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Wholesale used vehicle prices reached their lowest level of the year in May, as sales fell amid high interest rates and inflated retail prices. The declines in sales and wholesale prices signal the used vehicle market is weakening, according to Cox. Used vehicle prices have increasingly become a barometer for inflation since early last year when the Biden administration blamed the market for rising inflation rates. The costs and scarcity of inventory led consumers to the used vehicle market, boosting those prices as well. Continued declines could help bring used vehicle pricing down for consumers, since retail prices traditionally follow changes in wholesale prices.

Persons: Chris Frey, Cox, That's, Biden Organizations: DETROIT –, Cox Automotive, U.S Locations: Glendale , California, DETROIT

☆ GM to invest more than $1 billion to produce new heavy-duty pickups
▼ + stars: | 2023-06-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors plans to invest more than $1 billion in two Michigan plants for production of next-generation heavy-duty trucks, the company said Monday. Another $233 million will be invested in the automaker's Flint Metal Center to support production of the vehicles. Despite GM's commitment to exclusively offer all-electric vehicles by 2035, the company continues to invest in traditional vehicles such as the Chevrolet Silverado and GMC Sierra heavy-duty pickups. In 2022, GM reported sales of its heavy-duty pickups increased by 38% compared to the prior year, amounting to nearly 288,000 trucks sold. For investors, UAW negotiations are typically a short-term headwind every four years that result in higher costs.

Persons: Mike Booth Organizations: General Motors, Flint Assembly, DETROIT –, Motors, Flint Metal Center, Chevrolet Silverado, GMC, GM, Detroit, United Auto Workers, UAW Locations: Flint, Flint , Michigan, DETROIT, Michigan, EVs

☆ UAW union outlines lofty demands ahead of critical negotiations with Detroit automakers
▼ + stars: | 2023-06-01 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant on Sept. 25, 2019 with Vermont Sen. Bernie Sanders (far left) in Detroit. DETROIT – The United Auto Workers union appears ready to take a hard line when it comes to national negotiations this year with the Detroit automakers, warning of strikes or work stoppages, if needed. UAW President Shawn Fain said the "union will not accept any concessions" from General Motors , Ford Motor and Stellantis – a lofty mission in such negotiations. Contract talks between the union and automakers usually begin in earnest in July ahead of mid-September expirations of the previous four-year agreements. Union leaders, led by Fain, are largely newly elected officers that ran on platforms of standing up to companies and reforming the organization following a years-long federal corruption scandal that partially involved prior negotiations.

Persons: Vermont Sen, Bernie Sanders, Shawn Fain, Fain, Ford Organizations: United Auto Workers, General Motors, Hamtramck Assembly, Vermont, Detroit . DETROIT –, Detroit, UAW, Ford Motor, Union, Detroit automakers, GM Locations: Detroit, Hamtramck, Detroit .

☆ Ford's EV charging deal with Tesla puts pressure on GM, other rival automakers
▼ + stars: | 2023-05-26 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – A surprise deal between Ford Motor and Tesla on electric vehicle charging technology and infrastructure could put new pressure on other automakers' EV strategies. The tie-up between the two rivals will give Ford owners access to more than 12,000 Tesla Superchargers across the U.S. and Canada, starting early next year. More importantly, Ford's next generation of EVs — expected by mid-decade — will use Tesla's charging plug, allowing owners of Ford vehicles to charge at Tesla Superchargers without an adapter. Ford CEO Jim Farley and Tesla CEO Elon Musk announced the deal Thursday during a live audio discussion on Twitter Spaces. Tesla vehicles and its Supercharger network use what's known as NACS.

DETROIT – Ford Motor will partner with Tesla on charging initiatives for its current and future electric vehicles in an unusual tie-up between the two rivals, CEOs of the automakers announced Thursday. Under the agreement current Ford owners will be granted access to more than 12,000 Tesla Superchargers across the U.S. and Canada, starting early next year, via the use of an adapter. And, Ford's next-generation of EVs — expected by mid-decade — will include Tesla's charging plug, allowing owners of Ford vehicles to charge at Tesla Superchargers without an adapter, making Ford among the first automakers to explicitly tie into the network. A Ford spokesman said the company has "this option available to us but have no news to share today." A separate Ford spokesman told CNBC that pricing for charging "will be competitive in the marketplace."

☆ GM will introduce an all-electric Cadillac Escalade 'IQ' later this year
▼ + stars: | 2023-05-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

GM's first all-electric Cadillac Escalade will be called the "Escalade IQ," which continues Cadillac's EV naming strategy that so far includes the Lyriq crossover and upcoming Celestiq ultra-luxury sedan. DETROIT – General Motors on Monday confirmed plans to introduce an all-electric version of its flagship Cadillac Escalade later this year. An electric Escalade was expected, as the company plans to fully convert Cadillac into an electric vehicle brand by 2030. The Cadillac Escalade IQ is anticipated to utilize GM's Ultium battery cells, motors and technologies, which the automaker is using to power and underpin its next-generation EVs. But just because it's called an Escalade doesn't necessarily mean it'll be identical to the brand's iconic internal combustion engine-powered SUV.

☆ GM hires ex-Apple exec to lead new software unit
▼ + stars: | 2023-05-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

A sign with the General Motors quality mission statement stands in the lobby at the GM Warren Tech Center in Warren, Michigan. DETROIT – General Motors has hired former Apple executive Mike Abbott to lead a newly created software unit for the Detroit automaker. Abbott, former vice president of engineering for Apple's Cloud Services division, will join GM as executive vice president of software, effective May 22. Software, specifically monetizing it, is a major focus for automakers such as GM, as they eye reoccurring revenue opportunities such as subscriptions to boost profits. GM has a target to grow profit margins and double its revenue to about $280 billion by the end of this decade.

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