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GM Forex News
GM Q2 Results Down, Yet Beat Market; Backs FY25 View; Shares Hit
Automajor General Motors Co. on Tuesday maintained its fiscal 2025 earnings outlook, after reporting weak profit and revenues in its second quarter. However, adjusted earnings and top line beat market estimates. In the pre-market activity on the NYSE, General Motors shares were losing around 3.7 percent.
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26 days ago
GM Raises FY24 EPS Forecast As Q3 Beats Market
Automajor General Motors Co. on Tuesday raised its fiscal 2024 adjusted earnings view in line or above market estimates, after reporting higher third-quarter earnings per share and sales, also above the Street. Net earnings for the quarter, meanwhile, edged down. In pre-market activity on the NYSE, GM shares were gaining around 2 percent.
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299 days ago
GM To Build New $3.5 Bln EV Battery Plant With Samsung SDI
Auto major General Motors has signed a deal with South Korean EV battery maker Samsung SDI to establish a joint venture to build a $3.5 billion plant to supply electric vehicle or EV batteries in the United States. The new battery cell manufacturing plant with an annual production capacity of 27GWh initially, is targeting mass production in 2027.
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354 days ago
Uber In Deal With GM's Cruise To Offer Robotaxis Next Year
Uber Technologies, Inc. and Cruise LLC, the autonomous vehicle company owned by General Motors Co., are joining to offer Cruise autonomous vehicles through the Uber platform. The companies, which are revolutionizing transportation, agreed on a multiyear strategic partnership that will be launched next year. Under the deal, a number of Chevy Bolt-based autonomous vehicles will be offered for...
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359 days ago
GM To Cut More Than 1,000 Software Jobs
Auto major General Motors is laying off more than 1,000 salaried employees in its software and services division across the world, mostly in the U.S., with a view to streamlining its operations, reports said. In the proposed layoffs of software engineers, more than 600 will be at GM's tech campus in Michigan. The job cuts represent about 1.3 percent of GM's global salaried workforce...
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362 days ago
GM Q2 Volume Down, Cuts FY24 Earnings View; Stock Dips
Shares of General Motors Co. were losing more than 6 percent in the early morning trading on the NYSE after the automajor reported Tuesday weak sales volume in its second quarter, mainly in China, and trimmed its fiscal 2024 earnings forecast on a reported basis. However, the company raised its annual adjusted earnings view after reporting higher second-quarter earnings and revenues above market e
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390 days ago
GM Defense Provides Commercial Battery Electric Technology For Future Military Platforms
GM Defense LLC, a subsidiary of General Motors Co. (GM), said Tuesday it is providing commercial battery electric technology in support of the University of Texas at Arlington (UTA) Pulsed Power and Energy Laboratory (PPEL) and Naval Surface Warfare Center Philadelphia Division (NSWCPD).
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418 days ago
GM Defense, Mistral Ink Strategic Collaboration To Enhance Tactical Capability
GM Defense, a subsidiary of General Motors Co. (GM), and Mistral, Inc., announced Monday the integration of the innovative UVision and Mistral's Hero-120 loitering munition with GM Defense's light tactical utility vehicle.
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454 days ago
GM To End Chevy Malibu Production
Automajor General Motors plans to end production of its gasoline-powered Chevrolet Malibu car later this year as it prepares to produce new electric vehicles, reports said. Chevy Malibu, which was launched in 1964, has since been sold more than 10 million in numbers. The Malibu will end its production in November.
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465 days ago
GM's Cruise Resumes Manual Driving As Next Step To Relaunch Robotaxis
Cruise LLC, the autonomous vehicle company owned by auto giant General Motors Co., announced its plan to resume manual driving as the next step in return to fully driverless operations. The company, which had paused all its operations last year following an accident, now said manual driving will be resumed to create maps and gather road information in select cities, starting in Phoenix.
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494 days ago
