GM - General Motors Company

NYSE - NYSE Delayed price. Currency in USD
36.70
+0.56 (+1.55%)
At close: 4:00PM EDT

36.70 0.00 (0.00%)
After hours: 4:27PM EDT

Stock chart is not supported by your current browser
Previous close36.14
Open36.38
Bid36.60 x 3100
Ask36.75 x 800
Day's range36.14 - 36.78
52-week range30.56 - 43.19
Volume8,118,989
Avg. volume8,502,945
Market cap52.055B
Beta (3Y monthly)1.14
PE ratio (TTM)5.84
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield1.52 (4.56%)
Ex-dividend date2019-06-06
1y target estN/A
Trade prices are not sourced from all markets
  • Autos Power Industrial Production Higher: 5 Picks
    Zacks11 hours ago

    Autos Power Industrial Production Higher: 5 Picks

    An increase in production of autos and related parts was the highlight of May???s report.

  • Will the Fed Cut the Interest Rate on June 19?
    Market Realist12 hours ago

    Will the Fed Cut the Interest Rate on June 19?

    The Fed's two-day meeting is scheduled to start on June 19. The Fed will release a statement and announce its interest rate decision on the same day. Expert Jim Grant weighs in on the possibility of an interest rate cut.

  • Bloomberg16 hours ago

    Ford Takes Regulator for a Spin in Pitch to Save Connected Cars

    (Bloomberg) -- Automakers won control over a choice swath of wireless spectrum 20 years ago on the promise of delivering safety innovations to vehicles.Now, after failing to deliver widespread breakthroughs, they’re at risk of losing those frequencies to Comcast Corp. and other cable companies that say they can use them to offer robust Wi-Fi links to subscribers.The years-long struggle between the industries is nearing an inflection point, with Federal Communications Commission Chairman Ajit Pai signaling he may consider new uses for the airwaves. Pai could announce as early as Tuesday that he’ll schedule a vote to re-examine the allocation at the commission’s meeting next month.“The spectrum, for 22 years, has not reached its highest valued use, and that’s part of the reason why I think it’s important to have an open conversation,” Pai said at a Senate hearing last week. “I’m not saying what the answer should be, I’m simply saying let’s ask the questions that would enable us to have an informed conversation.”That conversation has already kicked off a flurry of activity by stakeholders. A team at Ford Motor Co. gave Pai a ride in a specially outfitted F-150 pickup truck earlier this month. The idea was to demonstrate the technology that could, for example, warn of a scooter’s approach or judge when it’s safe to enter an intersection.“Grateful to Ford for showing us a glimpse of the future,” Pai said in a tweet after his parking-lot spin. “It’s important to have an open conversation about the future of this band” of airwaves.Ford and other carmakers including BMW AG and Toyota Motor Corp., don’t want to lose the rights they gained in 1999 from the FCC for a system designed to link cars, roadside beacons and traffic lights into a seamless wireless communication web to avoid collisions and heed speed limits.Yet after nearly two decades, deployments have been few. An Obama administration proposal to mandate the technology in new cars has been left to languish under the deregulatory agenda pursued by President Donald Trump. General Motors Co. introduced the first factory-equipped model, a Cadillac sedan, just two years ago. And in April, Toyota scrapped plans to equip its cars with the systems starting in 2021.Now even automakers are moving away the original system, and see greater promise in a newer method based on cellular radios -- the system in the F-150 that Ford showed off for the FCC’s Pai. Ford plans to begin equipping all of its U.S. vehicles with the systems starting in 2022.That is an issue for carmakers as the 1999 allocation of airwaves by the FCC locked them into the system envisioned then. They need new rules to use a cellular system, which is backed by several companies including Ford, Audi AG and gear maker Qualcomm Inc.Ford, in a statement, said it is “critical” for the FCC to allow the newer, cellular-based method to use the airwaves because it will become the dominant technology to connect vehicles, infrastructure and pedestrians.Cable providers have pounced, characterizing the currently mandated system as fostering “two decades of stagnation.”They’ve called for ending carmakers’ exclusive rights to the frequencies at 5.9 GHz and allocating all or most of the band to the Wi-Fi systems that carry web traffic for most cable customers.Some consumer groups agree. They include the Consumer Federation of America, the American Library Association, Public Knowledge and the Open Technology Institute at New America.“The best outcome for consumers is to move vehicle safety signaling to a different set of frequencies and allow next generation Wi-Fi to use 5.9 GHz,” Michael Calabrese, director of the Wireless Future Project at the Open Technology Institute, said in an email.Pai controls the FCC’s agenda, and his impatience ushers in a moment of promise -- and peril.“We could maintain the status quo” but “I am quite skeptical that this is a good idea,” Pai said in a speech last month to a gathering that celebrated the Wi-Fi signals used for connections in hotel lobbies, coffee shops and homes.Pai said it would take a formal rulemaking to allow greater Wi-Fi use of the swath, or to let automakers exploit the band for the cellular safety system.Skepticism has arisen within the Trump administration. Transportation Secretary Elaine Chao telephoned Pai to urge the FCC not to use its June meeting to commence its consideration of the airwaves, according to one official briefed on the matter who spoke on condition of anonymity because the conversation wasn’t public.While Transportation Department officials haven’t advanced the previous administration’s proposed mandate, they want autos to hold onto the airwaves.“Preserving the spectrum for transportation safety, which can save lives, is probably more important than slightly faster Wi-Fi,” Derek Kan, the Transportation Department’s undersecretary for policy, said in an interview June 3.To contact the reporters on this story: Todd Shields in Washington at tshields3@bloomberg.net;Ryan Beene in Washington at rbeene@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, Elizabeth Wasserman, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Auto industry's powerful female bosses tell women how get ahead in work
    Yahoo Finance UK18 hours ago

    Auto industry's powerful female bosses tell women how get ahead in work

    “We need to be better advocates to help ourselves, we need to take the competition out, I think we are our own worst enemy.”

  • Why GM Is Set to Challenge Tesla in Electric & Autonomous Vehicle Markets
    Zacksyesterday

    Why GM Is Set to Challenge Tesla in Electric & Autonomous Vehicle Markets

    GM is one of many automakers trying to chase Tesla (TSLA) as the top electric and autonomous vehicle manufacturer, with plans to produce 20 models of electric cars by 2023.

  • General Motors (GM) Outpaces Stock Market Gains: What You Should Know
    Zacksyesterday

    General Motors (GM) Outpaces Stock Market Gains: What You Should Know

    General Motors (GM) closed the most recent trading day at $36.14, moving +1.35% from the previous trading session.

  • GM Stock Struggled Near 200-Day Moving Average
    Market Realistyesterday

    GM Stock Struggled Near 200-Day Moving Average

    For General Motors stock, the 200-day simple moving average is at $36.40, which makes it a stronger resistance level. This week, General Motors stock might continue to retest the support level near its 200-day simple moving average.

  • How Auto Stocks Traded in the Second Week of June
    Market Realistyesterday

    How Auto Stocks Traded in the Second Week of June

    Taking cues from the broader market movement, most auto companies traded on a slightly positive note last week. General Motors, Fiat Chrysler, and Toyota rose 0.5%, 0.5%, and 1.6%, respectively.

  • An Electric Hummer? GM Ponders a Clean Revival of a Gas Guzzler
    Bloombergyesterday

    An Electric Hummer? GM Ponders a Clean Revival of a Gas Guzzler

    (Bloomberg) -- A zero-emission Hummer sounds as paradoxical as non-alcoholic whiskey, but General Motors Co. is mulling over the idea of building an electric vehicle that would bring the defunct gas-guzzling brand back to life.For now, it’s just an idea GM is considering as it plans which vehicles will be included in a fleet of electrified SUVs and trucks, say people familiar with the matter. The Hummer name has surfaced as way to tap growing demand for rugged SUVs with off-road capabilities, while avoiding the gasoline-burning image that made the brand something of a pariah a decade ago, said the people, who asked not to be named because the conversations are private.Electric Hummer chatter comes as GM is looking to transform itself from a conventional, gas-powered-vehicle maker into what Chief Executive Officer Mary Barra calls an “all-electric future.” Hummer is one of many options GM is exploring as it races to develop the next generation of battery-powered vehicles. Several other car companies also are rushing to produce commercially viable electric-powered models.When asked about it, GM President Mark Reuss was unconvinced. “I love Hummer,” Reuss said on the sidelines of a press conference on June 12. “I’m not sure. We’re looking at everything.”Building an electric Hummer may never come to pass. Internally, the company looks at the idea as a ‘What If’ exercise when planning which models GM will build with its truck battery pack, say the people familiar with the discussions. Without electrification, GM would have a tough time selling a traditional Hummer in an era when emissions rules have become much stricter than in the brand’s heyday.Shares of General Motors rose 0.7% to $35.93 at 11:04 a.m. in New York.BEV3 ProjectGM is currently working on two major battery-electric vehicle programs. The first is its BEV3 project, which will develop passenger cars, crossover SUVs and a variety of other small and mid-sized models. That’s part of the automaker’s pledge to put 20 EVs on the road globally by 2023. The second program would make electric pickups and other full-size vehicles, some of which can go off-road.In its family of brands, GM has large SUVs -- such as the Chevrolet Suburban and Cadillac Escalade -- as well as hulking GMC vehicles including the Sierra truck and Yukon SUV. GMC also has Denali-labeled models that denote luxury and an AT4 brand for off-road capable trucks. Any of those potentially could be offered with electric powertrains, Reuss said.“It’s massive. There might be places where we go first that are not just heavy-duty work trucks but more style and capability for off-road,” he said. “There are lots of things that are very attractive.”GM kept Hummer after its 2009 bankruptcy but halted sales in 2010. Back then, the 10-miles-per-gallon Hummer H2 made the brand a symbol of automaker indifference to global warming. The vehicle was so heavy its weight placed it beyond the reach of federal government rules for fuel-economy tests, further enraging environmentalists. Hummer’s death knell came when oil soared past $100 a barrel, spiking gas prices and sinking sales.GM bought the brand in 1998, six years after AM General debuted it as a civilian version of the armored Humvee military vehicle made famous for its role in the Gulf War. Actor and former California Governor Arnold Schwarzenegger was an early and very public advocate for the brand and its first model, which later became known as the H1. GM sales started with the H2 model in 2002, a $60,000 SUV made using some parts from Chevy pickups and SUVs. It was a smash hit among buyers looking for brawn and bling, prompting the Detroit automaker to follow up with the mid-sized H3 SUV and H3T pickup truck.Demand for Hummer vehicles peaked in 2006 with U.S. sales of 71,524 vehicles, but fewer than 4,000 were sold by 2010, according to the Automotive News Data Center.Over the past few years, GM has been watching the growth of Jeep, the crown jewel and moneymaker of Fiat Chrysler Automobiles NV, and wondering if Hummer might win a piece of that market, said the people familiar with the brand discussions. GM sees an opportunity to compete with Jeep for off-road vehicles that have creature comforts commanding high premiums, two of the people said. The company’s designers have done work with Hummer concepts and have experimented with Hummer styling cues on future GMC brand models.Years AwayEven if GM goes through with a plan to make an electric Hummer, it would be years away. GM’s planned electric-truck project is well underway, but those models aren’t expected to launch until after the debut of the BEV3 architecture for smaller vehicles. Cadillac or one of the higher-volume brands would probably get some of the first models on the larger electric-truck-based platform.Earlier this year, GM was negotiating to form a joint venture with Rivian Automotive Inc., a startup electric-truck maker based outside Detroit. When the deal fell apart, GM accelerated development of its own battery-powered pickup and SUV program.It’s not alone in thinking there’s latent demand for large and luxury-market vehicles. When the GM deal died, Ford Motor Co. invested $500 million in Rivian with plans to build an electric pickup. And Jaguar Land Rover Holdings., which has a strong presence in large and luxury SUVs, will sell a plug-in hybrid version of the Range Rover this summer. The Indian-owned, British brand also has joined forces with BMW AG to work on electric drive.At its annual meeting on June 11, Tesla Inc. CEO Elon Musk said he is pushing hard to get an electric pickup truck that is capable of work duties but drives like a Porsche. He plans to show the vehicle this summer.Should GM decide to move forward with Hummer, it would need to rebuild the brand’s marketing and retail strategy. The automaker could sell Hummers in Cadillac or Buick-GMC dealerships -- for example in a small, brand-dedicated showroom. Previously GM gave specific franchises to separate Hummer dealers, who were disgruntled when sales ended. That alone could be a hurdle for greenlighting a resuscitated Hummer brand, one of the people said.Whatever happens, GM won’t be the first to think of an electric Hummer. Schwarzenegger worked with Kriesel Electric to put a battery and EV motor in his own H1 two years ago -- pioneering a zero-emission version of a vehicle that once went by the tagline “Like Nothing Else.”(Updates with details on GM’s internal debate in fifth paragraph.)\--With assistance from Kyle Lahucik.To contact the reporter on this story: David Welch in Southfield at dwelch12@bloomberg.netTo contact the editors responsible for this story: Chester Dawson at cdawson54@bloomberg.net, Melinda GrenierFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Fiat Leans Toward Trump as Industry Agonizes Over Fuel Rules
    Bloombergyesterday

    Fiat Leans Toward Trump as Industry Agonizes Over Fuel Rules

    (Bloomberg) -- When a group of 17 of the world’s largest automakers sent a letter to President Donald Trump on June 6 asking him to compromise with California on vehicle-emission standards, one company was notably absent from the list of signatories: Fiat Chrysler Automobiles NV.That holdout stance is not atypical for the automaker, known for its Jeep SUVs, beefy pickup trucks and Italian sports cars. Most automakers have called for tapping the brakes by making adjustments to national fuel-economy and emissions standards in light of low gasoline prices and soaring SUV sales. But Fiat Chrysler’s public comments hew closer to the Trump administration’s reverse shift on Obama-era regulations.“They are looking out for their own best interest, as every company and every person does at the end of the day,” said Brett Smith, director of propulsion technology and energy infrastructure at the nonprofit Center for Automotive Research.General Motors Co. suggested a national mandate for electric vehicles in 2021 in its written comments to regulators. Honda Motor Co. called for “strong 2025 targets” and said it did not support a Trump administration proposal to freeze the standards. Ford Motor Co.’s top executives said publicly they “support increasing clean-car standards through 2025 and are not asking for a rollback.”In its written comments submitted to regulators last year, Fiat Chrysler said it agrees with one of the Trump administration’s central arguments: Stricter fuel-efficiency mandates drive up new vehicle prices, keeping older, dirtier and less-safe cars on the road longer. It said this could undermine the very air quality and safety benefits the Environmental Protection Agency and National Highway Traffic Safety Administration rules aim to deliver.The EPA and NHTSA are preparing a final rule now that could differ from the post-2020 freeze the agencies recommended last year.“Our support for one national program and the mid-term evaluation remains unchanged,” Fiat Chrysler said in an emailed statement last week after its peers’ letter became public. “It was made clear when we were one of just two automakers to testify last September at hearings held by the EPA and NHTSA.”Shares of Fiat Chrysler rose 1.7% to $13.50 at 10:23 a.m. in New York.When the Trump administration proposed stripping California of its authority to limit tailpipe greenhouse-gas emissions last August, Fiat Chrysler made one of the industry’s strongest public endorsements of the federal government’s right to do so.“It remains our hope that conflicts over preemption will be avoided by an agreement,” the automaker wrote in comments submitted to the government last October. “However, in the absence of such an agreement, FCA agrees that the law gives the federal government the authority to preempt state standards that are directly related to fuel economy.”Fuel-Economy LaggardThe Trump administration in February terminated months of talks between federal regulators and California officials about a common standard. Automakers have urged the two sides to reach an agreement to avert a prolonged legal battle with California, but the White House has rejected that appeal. A dozen other states adhere to California’s emissions rules -- a bloc that accounts for more than a third of U.S. auto sales.Fiat Chrysler was among the first car companies to abandon sedans and, according to market research firm Edmunds, its model lineup has the lowest average fuel economy among the six biggest automakers. But almost every major manufacturer is boosting production of higher-emission SUVs and trucks for the U.S. market.The industry acted in unison urging the Obama administration to adjust fuel economy and cried foul when the EPA in 2016 determined no changes were needed, months earlier than expected. Automakers quickly appealed to a newly elected Trump early in 2017 for relief. The plea for a compromise between California and federal regulators reflects a desire to avoid costs from a split standard and the potential for years of uncertainty caused by a courtroom battle over the rules.“It’s important for them to communicate through the general public that yes, in a way, they very much do care about the environment, but they also understand they have a market to serve and to try to sell to,” Smith said.Under Chief Executive Officer Mike Manley, who took over last July, Fiat Chrysler has ramped up plans to electrify its lineup, in part to stay competitive in China and Europe where emissions standards are tougher. The automaker still stands to benefit the most from Trump’s proposed freeze, according to Alan Baum, an independent auto analyst in West Bloomfield, Michigan.“They’re way behind, by design, on electrics and hybrids,” Baum said. “To the extent there’s any improvement or required improvement in fuel economy, that’s really tough for them.”The Italian-American company has been a laggard even by industry standards. It ranked last among 13 car companies for both fuel economy and carbon emissions in the EPA’s evaluation of 2017 model-year sales. Its late CEO Sergio Marchionne publicly griped about having to sell a money-losing battery electric vehicle in California to meet that state’s more stringent emissions standards.The company has pointed out that demand for low-emissions models remains muted in much of the country, with hybrid and plug-in electric vehicles accounting for just 1.5% of U.S. vehicle sales through July of last year, according to IHS estimates. “The final rule must be based on the market realities of today,” Fiat Chrysler said in its written testimony on emissions-policy revisions.(Adds share price in 8th paragraph.)\--With assistance from Ryan Beene.To contact the reporter on this story: Gabrielle Coppola in New York at gcoppola@bloomberg.netTo contact the editors responsible for this story: Chester Dawson at cdawson54@bloomberg.net, Cécile Daurat, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Motley Fool2 days ago

    Why The Fiat-Renault Merger Stalled

    Both companies seemed eager to join forces, and then the situation became much more complicated.

  • Why Tesla stock can still hit $500
    Yahoo Finance4 days ago

    Why Tesla stock can still hit $500

    Here's one Tesla bull who is still feasting on the company.

  • MarketWatch4 days ago

    GM stock cut to sell on expectation of lower guidance

    Garrett Nelson at CFRA on Friday downgraded General Motors Co. stock to sell, from buy, on bearish expectations for auto sales, GM's operating margin forecasts, and "a belief that GM is likely to lower earnings guidance," he said. Nelson also cut his 12-month price target on the shares by $8 to $32, and lowered full-year profit estimates for 2019 and 2020. GM global sales fell 10.4%, including a 7% drop for U.S. sales, "and recent data suggests that demand remains weak, particularly in China (43.5% of GM's total vehicle sales in 2018)" Nelson said. "We expect weak sales and the negative impact of the trade war to weigh on GM's margins." GM shares fell 0.8% on Friday. The stock has gained 35% this year, compared with gains of 15% and 12% for the S&P 500 index and the Dow Jones Industrial Average.

  • The Zacks Analyst Blog Highlights: General Motors, Toyota, Ford, Fiat and Genuine Parts
    Zacks4 days ago

    The Zacks Analyst Blog Highlights: General Motors, Toyota, Ford, Fiat and Genuine Parts

    The Zacks Analyst Blog Highlights: General Motors, Toyota, Ford, Fiat and Genuine Parts

  • Industrial output rises the most in six months as automakers boost pickup truck production
    MarketWatch4 days ago

    Industrial output rises the most in six months as automakers boost pickup truck production

    Industrial production rose 0.4% in May, a solid and broad-based gain helped by increased production of pickup trucks and cars, the Federal Reserve said Friday.

  • China’s Car Sales Aren’t Just Falling Anymore, They’re Crumbling
    Market Realist4 days ago

    China’s Car Sales Aren’t Just Falling Anymore, They’re Crumbling

    Car sales in China, the world’s biggest automotive market, fell year-over-year in 2018 for the first time in more than two decades. Automotive sales have contracted in China for 11 consecutive months now. The slowdown only seems to be deepening, and last month, China’s car sales fell a whopping 16.4%.

  • U.S. denies Tesla, GM, Uber 25% Chinese tariff relief
    Reuters5 days ago

    U.S. denies Tesla, GM, Uber 25% Chinese tariff relief

    The Trump administration is expanding efforts to block the use of Chinese technology in advanced vehicles, denying additional requests by Tesla Inc for tariff relief on key components of its electric vehicles, and rejecting ride-hailing company Uber's petition to waive tariffs on electric scooters and at least 50 separate requests by General Motors Co. After the United States slapped 25 percent tariffs on $50 billion of Chinese imports last year under the two countries' trade dispute, the U.S. Trade Representative (USTR) allowed companies to petition for exemptions.

  • Tesla bull: 'I’m buying as many shares as I can'
    Yahoo Finance5 days ago

    Tesla bull: 'I’m buying as many shares as I can'

    With Tesla (TSLA) shares running out of gas in recent months, one shareholder says he’s never been more bullish on the company and its CEO Elon Musk. HyperChange CEO Galileo Russell is scooping up as many shares as he can with all of his available capital because - unlike some of the skeptics in this market - he really believes in the Tesla growth story.

  • Access Denied? Investors Lament Shift to Virtual Annual Meetings
    Bloomberg5 days ago

    Access Denied? Investors Lament Shift to Virtual Annual Meetings

    (Bloomberg) -- General Motors Co.’s annual meeting last week lacked what used to be an essential element: shareholders.For the first time, the carmaker held the gathering virtually, answering questions investors submitted online, joining companies like Lululemon Athletica Inc., Netflix Inc. and Intel Corp. in stopping physical events.Not all investors were happy.John Chevedden, a shareholder activist, called on GM investors to vote against the appointment of three directors in protest of the automaker’s decision to ditch in-the-flesh gatherings.“An in-person annual meeting is a motivator of good performance by management and directors,” Chevedden said in a filing. “Who wants to stand in front of a live audience and explain shrinking sales, epic recalls and loss of market share? It is so much easier to explain it to a microphone.”GM spokeswoman Juli Huston-Rough defended the practice.Online meetings “provide better opportunity for more shareholders to participate regardless of where they live,” she said in an emailed statement. “For many shareholders, attending a live meeting isn’t feasible because of geography or travel expense.”In the U.K., the Investment Association, a trade body that represents portfolio managers who collectively oversee about $10 trillion of assets, has said it doesn’t support virtual-only meetings. Lululemon’s billionaire founder Chip Wilson, the biggest individual shareholder, has complained that the company’s switch to the format in 2016 thwarted his ability to ask the board uncomfortable questions.Still, the practice is becoming more prevalent.Broadridge Financial Solutions Inc., which offers firms a platform to host online-only meetings, supported 257 such events in 2018, up from 212 in 2017 and just one in 2009, when it introduced the product. Proxy adviser Institutional Shareholder Services is currently tracking 186 virtual-only meetings that have already happened or are scheduled for later this year.Supporters of virtual meetings say the cost savings can be significant and allow shareholders worldwide to participate.“Companies aren’t doing it to hide, they just want to make the meetings more useful,” said Cathy Conlon, head of corporate issuer strategy at Broadridge. “It allows retail investors to have access to the company. People complaining about virtual meetings are generally those who already have access to the company.”Marc Goldstein, head of U.S. research at ISS, said the most investor-friendly solution would be a hybrid meeting combining a live event that’s also carried online. For many firms, that defeats the purpose of making the virtual switch.U.S. shareholders who object to such shifts have little recourse. While companies that wish to make the switch from physical meetings have to put that to a shareholder vote in Britain and some other markets, there’s no such requirement for most U.S. firms, according to Goldstein.For now, most companies haven’t abandoned traditional shareholder meetings, which give mom-and-pop investors a platform to voice their ideas and concerns. That can make for some awkward moments for executives. At Bombardier Inc.’s event in Montreal last month, a shareholder who said he had held the stock for almost six decades asked why the plane and train maker, which is in the middle of a turnaround plan, hasn’t paid a dividend for years while rewarding top executives with “staggering” pay. His comments drew some applause.But virtual-only meetings can also be awkward. At Lululemon’s meeting, Wilson submitted eight questions, most of which focused on whether the board had deliberately ignored his questions at previous gatherings. This time, the company offered answers to most of his questions and still managed to wrap up the entire proceeding in about 20 minutes.\--With assistance from David Welch and Sandrine Rastello.To contact the reporter on this story: Tom Metcalf in London at tmetcalf7@bloomberg.netTo contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Peter Eichenbaum, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Auto Stock Roundup: GM to Invest in Flint Plant, TM to Partner With Subaru
    Zacks5 days ago

    Auto Stock Roundup: GM to Invest in Flint Plant, TM to Partner With Subaru

    Ford (F) to close its engine plant in Bridgend, South Wales, U.K. Fiat Chrysler (FCAU) to tie up with Aurora for autonomous technology.

  • GM to invest $150 million to boost heavy-duty pickup truck production
    Reuters6 days ago

    GM to invest $150 million to boost heavy-duty pickup truck production

    General Motors Co president Mark Reuss said on Wednesday that the automaker is investing about $150 million at its Flint Assembly plant, Michigan, to boost production of heavy duty trucks by another 40,000 vehicles a year. Reuss announced the investment at the Flint truck assembly plant wearing a United Auto Workers pin. The Detroit automaker announced in February it was adding 1,000 jobs in Flint to build a new generation of heavy-duty pickup trucks.

  • General Motors Plans to Invest $150M in Flint Assembly Plant
    Zacks6 days ago

    General Motors Plans to Invest $150M in Flint Assembly Plant

    General Motors (GM) intends to invest in Flint Assembly Plant to increase the production of heavy-duty trucks.

  • VW Nears Self-Driving Deal With Ford, Exits Aurora Alliance
    Bloomberg6 days ago

    VW Nears Self-Driving Deal With Ford, Exits Aurora Alliance

    (Bloomberg) -- Volkswagen AG ended a self-driving technology partnership with Silicon Valley startup Aurora Innovation Inc. as it draws closer to a broader collaboration on autonomous cars with Ford Motor Co.“The activities under our partnership have been concluded,” a VW spokesman said of its alliance with Aurora in a statement Tuesday. The German manufacturer announced the tie-up with Aurora to develop autonomous-car technology at the Consumer Electronics Show in Las Vegas last year to help boost its own activities spearheaded by the Audi premium-car unit.Meanwhile, months of negotiations with Ford and its autonomous affiliate Argo AI are near fruition and a deal could be announced as early as July, people familiar with the situation said. Most of the thorniest issues have been resolved and the two companies envision a comprehensive collaboration creating a global colossus in the self-driving space, these people said. The partnership would rival Alphabet Inc.’s Waymo and General Motors Co.’s Cruise unit in ambition and scope, according to one of the people, who asked not to be identified revealing internal discussions.Self-driving cars have emerged as key battleground between automakers and technology giants in the race to develop robo-taxis and driverless delivery vehicles. These programs require investments in the billions of dollars, while regulatory frameworks vary across the globe, complicating testing and deployment. Huge SumsA payoff for the huge sums that need to be spent is difficult to predict as a broader rollout in the passenger-car space might take years longer than initially anticipated. Ford Chief Executive Officer Jim Hackett has said autonomous cars and other emerging mobility services could grow to a $10 trillion market.Volkswagen and Ford, which agreed to co-produce vans and pickups earlier this year, have been discussing an investment in Argo AI, the Ford-backed autonomous vehicle startup, people familiar with the talks have said. The automakers discussed an approximate valuation for Argo of $4 billion, one of the people said.Ford said its talks with Volkswagen are ongoing but did not provide specifics on the extent of progress. “Discussions have been productive across a number of areas. We’ll share updates as details become more firm,” it said in a statement. VW declined to comment on the status of the talks.Aurora, which raised over half a billion dollars in February from backers including Sequoia Capital and Amazon.com Inc., announced on Monday it will partner with Fiat Chrysler Automobiles NV to develop and deploy a fleet of self-driving commercial vehicles. The company is the brainchild of Sterling Anderson, the former director of autonomy for Tesla Inc.; Drew Bagnell from Uber Technologies Inc.; and Chris Urmson, who headed Alphabet’s self-driving car project before it was named Waymo.“Volkswagen Group has been a wonderful partner to Aurora since the early days of development of the Aurora Driver,” Aurora said in a statement. “As the Driver matures and our platform grows in strength, we continue to work with a growing array of partners who complement our expertise and expand the reach of our product.”Strategic FitVolkswagen, the world’s largest automaker, and U.S. peer Ford announced their cooperation on light commercial vehicles in January. Officials from both sides, including VW CEO Herbert Diess and Ford Chairman Bill Ford, have stressed the strategic fit between the two manufacturers.“We fit together geographically really well, product line-wise, we fit together well,” Ford, the great-grandson of founder Henry Ford, said at a conference in Houston in March. “We both came to the same realization that as big as our balance sheets are, no company can do this alone.”\--With assistance from Dana Hull.To contact the reporters on this story: Christoph Rauwald in Frankfurt at crauwald@bloomberg.net;Keith Naughton in Southfield, Michigan at knaughton3@bloomberg.netTo contact the editors responsible for this story: Kevin Miller at kmiller@bloomberg.net, Chester DawsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Elon Musk says Tesla has 'a decent shot' at a new production record
    Yahoo Finance6 days ago

    Elon Musk says Tesla has 'a decent shot' at a new production record

    Tesla held its shareholder meeting, where CEO Elon Musk gave a presentation on the company's performance.

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