General Mtrs Co Stock Price, News & Analysis

General Motors (GM) has successfully secured agreements to obtain 100% of the renewable energy required to power all its U.S. facilities by 2025, five years ahead of its previous target. This initiative aims to reduce carbon emissions by an estimated 1 million metric tons between 2025 and 2030. GM's renewable energy efforts have generated over $75 million in positive cash flows since 2017 and are supported by strategies focused on energy efficiency, renewable sourcing, and technology for energy storage. GM continues to lead as the largest corporate buyer of renewable energy among automotive manufacturers.

General Motors Co. reported a remarkable third quarter in 2022, with a net income of $3.3 billion and an EBIT-adjusted of $4.3 billion, driven by record revenue of $41.9 billion. Year-over-year comparisons show revenue increasing by $15.1 billion from $26.8 billion in Q3 2021. Despite higher revenue, the net income margin decreased to 7.9% from 9.0%. For the first nine months, net income was $7.9 billion, slightly lower than $8.3 billion in 2021. The company reaffirms its full-year earnings guidance, with expected net income between $9.6 billion and $11.2 billion.

General Motors Co. (NYSE: GM) has declared a fourth quarter 2022 cash dividend of $0.09 per share, payable on December 15, 2022. Shareholders of record as of December 2, 2022 will receive the dividend. This announcement underscores GM's commitment to returning value to its investors while advancing its all-electric future strategy, leveraging the Ultium battery platform for diverse vehicle offerings.

Red Cell Partners has appointed Wesley G. Bush as Director and Advisor, enhancing its leadership team. Bush, who previously served as Chairman and CEO of Northrop Grumman, brings extensive experience in finance, public policy, and cybersecurity. His role is expected to strengthen Red Cell's connection to the defense and healthcare sectors, aimed at developing innovative solutions to pressing national issues. Red Cell focuses on rapidly scalable technology-led companies to address significant challenges, leveraging Bush's expertise to advance their mission.

SunPower Corp. (NASDAQ: SPWR) and General Motors (NYSE: GM) have announced a collaboration to develop a home energy system compatible with GM's EVs, starting with the 2024 Chevrolet Silverado EV retail launch expected in Fall 2023. SunPower will be GM's exclusive solar provider and preferred EV charger installer. This partnership aims to enable bi-directional charging, allowing EVs to supply backup energy to homes. Customers will be able to install home energy systems alongside their EV chargers, potentially saving on electricity bills through solar energy usage.

General Motors has launched GM Energy, incorporating Ultium Home, Ultium Commercial, and Ultium Charge 360. This new initiative aims to enhance energy management services for residential, commercial, and EV customers, focusing on grid resiliency. Key partnerships have been established with major companies like SunPower for integrated energy solutions, including solar and battery systems. GM Energy's cloud-based platform will streamline energy consumption and enable customers to sell energy back to utilities, effectively managing peak consumption costs.

GM Defense, a subsidiary of General Motors, has been selected by the Defense Innovation Unit (DIU) to develop a battery pack prototype using its advanced Ultium Platform. This collaboration aims to create a scalable battery design for tactical military vehicles, supporting the military's shift towards more electric technologies. The announcement follows another award in July for analysis and demonstration of a GMC HUMMER EV Pickup by the U.S. Army, reinforcing GM Defense's commitment to leveraging commercial technologies for defense applications.

General Motors (NYSE: GM) has announced a collaboration with OneD Battery Sciences to enhance EV battery technology through silicon nanotechnology. This partnership aims to improve battery energy density, offering longer ranges at reduced costs. GM Ventures has also participated in OneD's $25 million Series C funding round. The collaboration focuses on OneD's SINANODE platform, which significantly increases silicon content in battery anodes, potentially revolutionizing EV performance and manufacturing efficiency while supporting GM's goal to manufacture 1 million EVs annually by 2025.

General Motors Co. (NYSE: GM) has made a strategic investment in Lithion Recycling Inc. as part of a Series A financing round, establishing a partnership to develop a circular battery ecosystem. This collaboration aims to validate Lithion's recycled battery materials for new battery production and invest in R&D for recycling processes. Lithion's technology boasts a recovery rate exceeding 95%, significantly reducing greenhouse gas emissions and water usage. The partnership aligns with GM's goal to scale EV production and enhance sustainability in battery supply chains.