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Kimberly Fuhr - 1 Motors - 1 GM's - 1
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Orion Township , Michigan DETROIT Michigan Detroit North Sierra
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UAW Local - 1 Bolt - 1 General Motors Orion Assembly - 1 DETROIT – - 1 GM - 1 Orion Assembly - 1 Motors - 1 Orion - 1

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☆ 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 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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