General Mtrs Co Stock Price, News & Analysis

On March 28, 2023, General Motors recognized Hanon Systems as a 2022 Supplier of the Year during its annual awards ceremony in San Antonio, Texas. This marks the sixth consecutive year that Hanon has received this honor, highlighting its commitment to delivering high-quality automotive thermal and energy management solutions. GM's award reflects the supplier's exceptional performance in meeting rigorous standards and providing innovative technologies. Hanon Systems operates 53 manufacturing sites globally and employs over 21,000 people.

Envisics, a leader in holographic head-up display technology, has secured over $50 million in Series C funding, achieving a post-money valuation of $500 million. The investment round, led by Hyundai Mobis, includes new significant investors such as GM Ventures and Stellantis Ventures. The funding aims to expedite product development for advanced augmented reality head-up displays (AR HUDs), which are essential for modern vehicles. General Motors plans to integrate this next-generation technology in the 2024 Cadillac LYRIQ. The AR HUD market is projected to grow at a 28% CAGR, expanding from 1.6 million units in 2022 to 19.1 million by 2032.

GM Defense LLC, a subsidiary of General Motors (GM), has signed a Memorandum of Understanding (MOU) with the Tawazun Council in Abu Dhabi, aimed at advancing technology and collaboration in defense. This partnership will focus on integrating electric vehicle technology and advanced military solutions, enhancing regional production and post-production support. Steve duMont, president of GM Defense, emphasized the commitment to providing reliable and innovative defense solutions. This agreement marks GM Defense's first major partnership in the Middle East, expanding its reach following the 2022 launch of GM Defense International.

United States Steel Corporation (NYSE: X) announced its supply agreement with General Motors (NYSE: GM) for its verdeX^® steel, which produces up to 75% fewer emissions compared to traditional methods and consists of up to 90% recycled content. This steel will be manufactured at Big River Steel, a facility certified under LEED and ResponsibleSteel™. Shipping will begin this year. The company is also constructing a $3 billion facility in Osceola, Arkansas, to enhance production. U. S. Steel aims for net-zero greenhouse gas emissions by 2050, being the first North American steelmaker to join ResponsibleSteel™.

General Motors (NYSE:GM) has declared a cash dividend of $0.09 per share for the first quarter of 2023. This dividend will be payable on March 16, 2023, to shareholders on record as of the close of trading on March 3, 2023. The company continues its commitment to enhancing shareholder value while focusing on its strategy to advance an all-electric future through its Ultium battery platform, powering various vehicles under brands such as Chevrolet, Buick, GMC, and Cadillac.

General Motors Co. (NYSE: GM) reported robust financial results for Q4 2022, with revenue reaching $43.1 billion and net income attributable to stockholders of $2.0 billion. For the full year 2022, GM achieved $156.7 billion in revenue, with net income of $9.9 billion and EBIT-adjusted at a record $14.5 billion. The company forecasts 2023 net income of $8.7 billion-$10.1 billion and expects strong cash flows, with operating cash flow projected between $16.0 billion-$20.0 billion. CEO Mary Barra will discuss these results in a conference call.

General Motors (NYSE:GM) and Lithium Americas (NYSE:LAC) have announced a joint investment to develop the Thacker Pass lithium mine in Nevada, the largest lithium source in the U.S. GM will invest $650 million, marking the largest investment by an automaker in battery raw materials. This capital will help support the production of up to 1 million electric vehicles (EVs) annually and ensure GM's access to critical materials for its Ultium battery cells. The investment is contingent on specific conditions, including regulatory approvals, with production expected to start in late 2026, creating 1,500 jobs in total.

On January 30, 2023, American Rheinmetall Vehicles and GM Defense won a contract for the U.S. Army's Common Tactical Truck (CTT) Program, aimed at replacing heavy tactical trucks with up to $14 billion for 40,000 trucks. The HX3 Common Tactical Truck (HX3-CTT) will integrate advanced technologies such as driver assistance systems and autonomous capabilities. This partnership combines engineering strengths from both firms and leverages commercial truck technologies to ensure high operational capability and lifecycle cost efficiency. The HX3-CTT features enhanced mobility and modularity to meet diverse military demands.