Welcome to our dedicated page for General Mtrs Co news (Ticker: GM), a resource for investors and traders seeking the latest updates and insights on General Mtrs Co stock.
General Motors (GM) drives innovation in the global automotive sector through its vehicle manufacturing expertise and diversified operations. This news hub provides investors and industry observers with essential updates on corporate developments, financial performance, and technological advancements.
Access timely press releases and analysis covering earnings reports, product launches, strategic partnerships, and regulatory updates. Our curated collection simplifies tracking GM’s North American operations, international expansions, and GM Financial services initiatives.
Discover updates on electric vehicle development, autonomous technology investments, and sustainability efforts shaping the company’s trajectory. Bookmark this page for structured access to operational milestones and market-moving announcements from one of the automotive industry’s most influential players.
General Motors (NYSE: GM) reported first-quarter 2023 results, with revenue of $40.0 billion and net income of $2.4 billion, leading to an EBIT-adjusted figure of $3.8 billion.
The company updated its full-year earnings guidance, projecting GAAP net income in the range of $8.4 billion to $9.9 billion, slightly down from $8.7 billion to $10.1 billion. However, it raised its EBIT-adjusted guidance to $11.0 billion to $13.0 billion from $10.5 billion to $12.5 billion. Operating cash flow is expected to be $16.5 billion to $20.5 billion, up from a previous estimate of $16.0 billion to $20.0 billion.
General Motors (NYSE: GM) and Samsung SDI announced a joint investment exceeding $3 billion to establish a battery cell manufacturing facility in the United States, expected to commence operations by 2026. This partnership aims to enhance GM's supply chain for electric vehicles (EVs) by increasing battery cell capacity to approximately 160 GWh upon full production.
GM's CEO, Mary Barra, emphasized that this initiative aligns with the company's goals of scalability, sustainability, and cost-competitiveness. The facility is projected to produce over 30 GWh of battery cells annually, contributing significantly to meeting the rising demand for EVs. Employment opportunities in construction and operations are expected to reach into the thousands, bolstering economic growth in the region.
General Motors (NYSE: GM) announced a cash dividend of
General Motors (NYSE:GM) has honored KATCON as a 2022 Supplier of the Year during its 31st annual awards ceremony in San Antonio, Texas. This award acknowledges suppliers who exceed GM's standards, showcasing innovative technologies and high-quality products in the automotive sector. KATCON, awarded for the fifth time and third in the last seven years, dedicates this recognition to its employees and global suppliers. CEO Carlos Turner emphasized the company's commitment to aligning its product offerings with GM's long-term strategy, particularly in exhaust systems and electric vehicle applications. GM's VP of Global Purchasing, Jeff Morrison, noted the resilience and sustainable innovations demonstrated by KATCON and other suppliers in a challenging automotive landscape.
GM Defense, a subsidiary of General Motors (NYSE:GM), has named Hendrick Motorsports its 2022 Supplier of the Year. This award highlights suppliers who exceed expectations, delivering innovative technologies and quality solutions. Hendrick Motorsports supports GM Defense's Infantry Squad Vehicle (ISV), a light nine-passenger troop carrier designed for rapid ground mobility in the U.S. Army. The ISV features 90% commercial parts and is easily transportable by helicopters. Steve duMont, President of GM Defense, emphasized the importance of collaboration with Hendrick Motorsports in meeting military needs. The ISV is produced in Concord, North Carolina, near Hendrick's headquarters. GM recently recognized multiple suppliers at its 31st annual Supplier of the Year event in San Antonio, Texas.
General Motors (NYSE: GM) awarded Siemens Digital Industries Software with the 2022 Supplier of the Year accolade at its annual event in San Antonio, Texas. This marks the 6th time Siemens has received this honor for exceeding GM's expectations in innovative technology and quality. The award recognizes suppliers who demonstrate resilience and a commitment to sustainable innovation within the automotive industry. GM emphasized the importance of collaboration with top suppliers to enhance its ambitions around electrification and decarbonization. Siemens' president, Tony Hemmelgarn, highlighted the role of the Siemens Xcelerator portfolio and digital twin technology in driving the automotive sector's transformation.
General Motors (NYSE:GM) has awarded Alps Alpine North America the 2022 Supplier of the Year at its 31st annual Supplier of the Year event in San Antonio, Texas. This marks the 11th consecutive win for Alps Alpine, underlining its consistent performance and innovation within the automotive industry. The award recognizes suppliers that exceed GM's stringent requirements, highlighting their commitment to high-quality products and sustainable solutions. GM's Vice President of Global Purchasing emphasized the resilience and resourcefulness demonstrated by its suppliers amid ongoing challenges in the automotive sector. Alps Alpine, a leading manufacturer of electronic components since 1948, operates 110 bases globally and supplies a diverse range of products to numerous companies.
General Motors (GM) has announced a $50 million investment in Energy Exploration Technologies (EnergyX) to support the development of advanced lithium extraction technology. This strategic partnership aims to enhance lithium recovery in North America, crucial for electric vehicle (EV) batteries. EnergyX's innovative direct lithium extraction (DLE) technology promises to improve efficiency and sustainability in lithium production, with recovery rates exceeding 90%. The collaboration includes access to competitive lithium offtakes for GM’s exclusive use and additional financing for lithium production projects across North and South America. This investment reinforces GM's commitment to securing critical minerals for an all-electric future, thereby furthering its leadership position in the EV market.
Gage Products Company has been honored with the Overdrive Award at General Motors' 31st annual Supplier of the Year awards event in San Antonio, Texas. This recognition is shared by only 16 suppliers for their exemplary performance in sustainability and innovation. Gage's Vice President, Joe Porco, emphasized the collaborative effort of their team in achieving this honor. The Overdrive Award, introduced in 2012, acknowledges suppliers meeting GM's criteria, including sustainability, innovation, and launch excellence. Gage has partnered with GM since the 1980s, contributing to reducing environmental footprints through sustainable practices.
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