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☆ Biden to meet with Ford CEO, UAW Friday on economy
▼ + stars: | 2022-11-18 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The White House meeting, which will be in-person and virtual, will also include the presidents of the Service Employees International Union and United Food and Commercial Workers union, the official said. Attendees will discuss the economy and meeting participants' perspectives on the economy "and ideas they have to continue bringing inflation down," the official said. The White House has often cited a shortage of semiconductor chips as a key factor in higher prices for cars and trucks and overall inflation. Also attending is White House National Economic Council director Brian Deese and Treasury Secretary Janet Yellen. In May, Biden, in a trip to South Korea, expressed support for workers seeking to unionize joint venture battery plants.

☆ Wall Street is skeptical of GM's ambitious EV plans
▼ + stars: | 2022-11-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

DETROIT – Wall Street is skeptical of General Motors' plans to produce profitable electric vehicles years ahead of schedule and substantially bring down battery costs amid supply chain problems and broader economic concerns. GM's average rating is overweight with a 12-month target price of $47.77 per share, according to analysts compiled by FactSet. That would be years ahead of schedule and mean a dramatic decline in the automaker's battery costs amid supply chain problems, cyclical demand concerns and potential shortages in raw materials. It boosted its cash flow guidance to between $10 billion and $11 billion, up from $7 billion and $9 billion. Here are comments from other analysts as well as their ratings and price targets for GM following the investor event.

☆ Ford working to build its own parts for electric vehicles to offset job losses
▼ + stars: | 2022-11-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor is attempting to build as many of its own parts as possible for its electric vehicles to offset an expected 40% reduction in workers needed to build such cars and trucks, CEO Jim Farley said Tuesday. In addition to making sense for the business, he said retaining the jobs and workforce is another reason Ford wants to build more parts in-house rather than purchasing them from suppliers. Ford is building twin lithium-ion battery plants in central Kentucky through a joint venture with South Korea-based SK Innovation, called BlueOvalSK, as well as a massive 3,600-acre campus in west Tennessee. Farley said the company would be "thrilled" to have union representation at its upcoming battery plants. The comments come as the United Auto Workers union is attempting to organize a joint-venture battery plant between General Motors and LG Energy Solution in Ohio.

☆ UAW seeks election to represent GM battery joint venture workers
▼ + stars: | 2022-10-31 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Jonathan ErnstOct 31 (Reuters) - The United Auto Workers on Monday said it was seeking an election to represent workers at a General Motors (GM.N)/LG Energy (373220.KS) battery cell manufacturing joint venture in Ohio after the companies refused to recognize the union. In August, the Warren, Ohio Ultium plant began production, the first of least four planned U.S. battery factories by the joint venture. In May, President Joe Biden, in a trip to South Korea, expressed support for workers seeking to unionize joint venture battery plants. "For every joint venture that manufactures electric vehicle batteries would be made stronger by collective bargaining relationships with American unions," Biden said. GM and LG Energy are considering an Indiana site for a fourth U.S. battery plant expected to cost about $2.5 billion.

☆ UAW Files for Federal Permission to Set Election at Ohio Battery Plant
▼ + stars: | 2022-10-31 | by ( Mike Colias | ) www.wsj.com time to read: 1 min

General Motors co-owns a battery plant in northeast Ohio where the United Auto Workers is looking to hold an election. The United Auto Workers is seeking federal permission to hold an election at a new battery plant in Ohio co-owned by General Motors Co., claiming the factory’s owner has resisted workers’ efforts to unionize. The UAW said Monday that a majority of the facility’s 900 workers have signed cards requesting that the union represent them at the factory, which is owned by Ultium Cells LLC , a 50-50 joint venture between GM and Korean battery supplier LG Energy Solution . The northeast Ohio facility opened in late August.

☆ The Chevy Bolt’s huge sales prove America is craving a cheap electric car
▼ + stars: | 2022-10-26 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

The Bolt EV and its new, more SUV-like sibling the Bolt EUV had record sales in the third quarter of the year with 14,000 being delivered to customers. Prices for the new Bolt EUV, which is taller and roomier, dropped to a base of about $28,200, $6,300 less than before. The 2023 Bolt EV now has a starting price of $25,600 and, for the Bolt EUV, $27,200. The Chevrolet Bolt EUV is a taller, roomier version of the Bolt EV electric hatchback. Like many electric cars, it can be driven “one pedal” style, with the car braking gently as the accelerator pedal is lifted.

☆ GM's plan to build 400,000 EVs in North America has been delayed by up to 6 months because it hasn't been able to make batteries fast enough
▼ + stars: | 2022-10-26 | by ( Stephen Jones | ) www.businessinsider.com time to read: +3 min

GM has delayed a plan to build 400,000 EVs in North America. CEO Mary Barra said Tuesday the launch of battery production had been slower than expected. Barra told investors in February that GM planned to make 400,000 EVs in North America through 2023, per Automotive News. Barra wants GM to build one million electric vehicles in North America by 2025. GM plans to open a second next year, and another in 2024.

☆ Sierra EV joins General Motors' electric truck family in early 2024
▼ + stars: | 2022-10-20 | by ( Paul Lienert | ) www.reuters.com time to read: +2 min

The first version, due in early 2024, is the fully loaded Sierra EV Denali Edition 1, which will be built in limited numbers and priced from $107,000. Register now for FREE unlimited access to Reuters.com RegisterLike its sister model, the Chevrolet Silverado EV, the four-door Sierra EV shares its Ultium battery pack with the GMC Hummer EV. The high-end Sierra EV Denali Edition 1 boasts 754 horsepower and an estimated range of 400 miles. When the battery pack is depleted, a DC fast charger can add about 100 miles of range in 10 minutes, GM said. The feature-laden Sierra EV Denali comes with an adaptive air suspension, a massive 16.8-inch center display, 14-inch multi-color head-up display, panoramic glass roof and Super Cruise hands-free driving assist.

☆ GM tests limits of Cadillac’s brand power with $300,000 Celestiq electric car
▼ + stars: | 2022-10-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

2024 Cadillac Celestiq CadillacDETROIT – Cadillac is testing the limits of its brand allure and pricing power with the 2024 Celestiq – a large, bespoke electric car that will start at more than $300,000. The vehicle – unveiled Monday night – launches the General Motors brand into the ultra-luxury segment against the likes of Bentley and Rolls-Royce. Executives say the vehicle is more about creating a "halo car" that helps burnish Cadillac's image, rather than fueling overall sales or profits. 2024 Cadillac Celestiq CadillacHarvey declined to discuss the vehicle's profit margins or whether the company plans to add additional hand-built models. Cadillac has not sold a hand-built vehicle for decades, but its crosstown rivals have offered such cars as custom performance models.

☆ Here's the 28-page pitch deck that landed battery startup OneD a $25 million Series C to help power GM's $35 billion pivot to electric cars
▼ + stars: | 2022-10-13 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

OneD is a battery startup racing to improve EVs' battery range, cost, and charging speed. Check out the 28-page pitch deck it used to raise a $25 million Series C round. Founded in 2013, OneD Battery Sciences is laser-focused on that. OneD also plans to license this tech to automakers and their battery manufacturers and has a small-scale pilot line going. Pluvinage shared the pitch deck OneD used to pitch its vision.

☆ GM takes on Tesla with scheme to let homeowners store power and use their EVs as batteries
▼ + stars: | 2022-10-12 | by ( Stephen Jones | ) www.businessinsider.com time to read: +2 min

General Motors is launching a division that provides homeowners with power storage technology. GM Energy will provide battery storage devices, and let drivers use EVs to power their homes. GM Energy will offer solar energy and battery storage products so electric vehicle owners can use their cars as power sources when needed, the company announced on Tuesday. GM Energy will use SunPower to provide customers with solar panels, with wall-mounted battery storage from Ultium and include its existing charging service called Ultium Charge 360. Tesla's energy storage business includes its Powerwall storage and Megapack storage units.

☆ 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.

☆ GM is starting an energy storage subsidiary to take on the Tesla Powerwall
▼ + stars: | 2022-10-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

The new business unit, called GM Energy, will consist of Ultium Home, Ultium Commercial and Ultium Charge 360 divisions. Ultium Home and Ultium Commercial will, as their names imply, supply energy storage for homes and businesses, respectively. GM Energy will also be involved with hydrogen fuel cells and solar energy products, GM said in its announcement. GM Energy will work with California’s Pacific Gas and Electric on a pilot program to test the concept using GM electric vehicles starting in 2023, GM said in the announcement. The new subsidiary is also working with solar energy provider SunPower, which will install solar panels on customers’ homes, GM said.

☆ Honda is spending $3.5 billion to build a battery factory in Ohio
▼ + stars: | 2022-10-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Honda and South Korean battery maker LG Energy Solutions are investing $3.5 billion to build a joint venture battery factory in southern Ohio, the car company said Tuesday. Construction on the battery plant is expected to begin early next year and should be completed by the end of 2024. At the Marysville plant, battery cells from the Fayette County battery factory will be installed in the battery cases made in Anna. The Marysville factory opened in 1982 and was Honda’s first auto factory in the United States. Honda now has 18 factories producing Honda and Acura vehicles in the United States.

☆ Factbox: Automakers accelerate drive to secure battery raw materials
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

read more08-Dec-2021 - Belgium's Umicore (UMI.BR) will supply cathode materials for Volkswagen's European battery cell factories under a joint venture. MERCEDES BENZ (MBGn.DE):23-Aug-2022 - Mercedes-Benz strikes cooperation agreement with Canada to secure access to lithium, nickel and cobalt. read more04-Oct-2021 - BHP Group (BHP.AX) will supply nickel sulphate from Western Australia to Toyota and Panasonic's joint venture. read moreFORD (F.N)22-July-2022 - Ioneer Ltd signs binding offtake agreement with Ford to supply lithium from Rhyolite Ridge in Nevada. read more22-Sept-2021 - Ford partners with startup Redwood Materials to form a "closed loop" or circular supply chain for electric vehicle batteries, from raw materials to recycling.

read moreRegister now for FREE unlimited access to Reuters.com RegisterLast month, the first General Motors and LG Energy Solution (373220.KS) joint venture Ultium battery plant began production in Lordstown, Ohio. GM previously expressed support for efforts by the UAW to organize Ultium's battery plants, but did not endorse "card check. In May, President Joe Biden, in a trip to South Korea, expressed support for workers seeking to unionize joint venture battery plants. Detroit's Big Three automakers all have battery plants in the works with Korean partners. Last month, GM and LG Energy said they were considering a site in New Carlisle, Indiana, for a fourth U.S. battery plant.

☆ GM to sell up to 175,000 electric vehicles to Hertz through 2027
▼ + stars: | 2022-09-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

General Motors has agreed to sell up to 175,000 electric vehicles to Hertz Global over the next five years, the companies announced Tuesday. The deal calls for GM to start supplying electric vehicles such as the Chevrolet Bolt EV and Bolt EUV to the rental car giant starting the first quarter of next year. GM is the latest automaker to strike such an agreement with Hertz following Tesla and Polestar, a Volvo-backed electric vehicle startup. Hertz has made increasing its fleet of electric vehicles a priority following its emergence from bankruptcy less than a year ago. Hertz aims to have a quarter of its fleet be electric by the end of 2024, while GM has announced plans to exclusively offer electric vehicles by 2035.

☆ GM to launch electrified version of Corvette sports car by next year
▼ + stars: | 2022-04-25 | by ( ) www.reuters.com time to read: 1 min

April 25 (Reuters) - General Motors Co (GM.N) President Mark Reuss said on Monday the automaker would launch an electrified version of its two-door Corvette sports car as soon as next year. The company will launch an electrified version of the Corvette, which will be followed by an all-electric version using GM's Ultium battery technology, Reuss said on LinkedIn. His comments about launching an electric Corvette were aired earlier on an interview with CNBC. GM's Corvette that has traditionally been fitted with petrol engines, races to keep up with other competitors in the space, such as Ferrari NV (RACE.MI), which offer gasoline-electric hybrid and turbocharged engines. Reporting by Nathan Gomes in Bengaluru; Editing by Amy Caren DanielOur Standards: The Thomson Reuters Trust Principles.

Va avea o autonomie de 480 de kilometri la o încărcare, cu o rată a accelerației de 3,5 secunde de la zero la 100 Km/h, cu 0,5 secunde mai lent decât Hummer EV, citează playtech.ro. Prețul de achiziție pentru bolid impozant din imaginea de mai sus va fi de 105.595 de dolari. În total, va avea trei motoare care vor conlucra și vor fi propulsate de un pachet de acumulatori Ultium din 20 de module. Dacă ești dispus să mai aștepți un an, până în 2024, o mașină vizual identică va costa 80.000 de dolari și va fi intitulată EV2. Aceasta va avea o autonomie de 400 de kilometri dată de un pachet de baterii cu 16 module.

Organizations: GM

Organizations: GM

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