General Mtrs Co Stock Price, News & Analysis

Pure Watercraft has unveiled an all-electric pontoon boat, marking the first product from its collaboration with General Motors (NYSE: GM). This innovative 24'7" vessel features a top speed of 23 mph, capacity for up to 10 passengers, and is powered by either single or twin Pure Outboard motors alongside a GM battery pack of up to 66 kWh. Priced from $45,000 for a single outboard and $60,000 for a twin, the boat promises high performance and low maintenance, targeting the rapidly growing 20% segment of the US recreational boating market.

On December 15, 2021, Ascent was honored as a 2020 Supplier of the Year by General Motors, marking its 8th time receiving this award. GM recognized 122 suppliers from 16 countries for outstanding performance that enhances customer experiences. Ascent, which reported $1.5 billion in revenue and has over 950 experts across North America, continues to be a critical logistics partner for GM. The award reflects Ascent's resilience and commitment during a challenging year, reinforcing the company's position in the logistics sector.

MP Materials Corp. (NYSE: MP) is set to establish its first rare earth magnet manufacturing facility in Fort Worth, Texas, sourcing materials from Mountain Pass, California. This facility will produce NdFeB alloy and magnets, with a capacity to power around 500,000 electric vehicle (EV) motors annually. A long-term agreement with General Motors (NYSE: GM) will supply U.S.-sourced materials for GM's Ultium Platform vehicles. Production is expected to commence gradually in 2023, creating over 100 skilled jobs and enhancing the domestic rare earth supply chain.

General Motors (NYSE: GM) and POSCO Chemical have announced a joint venture to build a factory in North America that will process Cathode Active Material (CAM) for GM's Ultium electric vehicle platform. This facility, set to open in 2024, aims to enhance U.S. EV production by optimizing battery performance and reducing costs. The new operation will support Ultium Cells LLC plants in Lordstown, Ohio, and Spring Hill, Tennessee. GM plans to invest $35 billion into electric vehicles by 2025 and aims for over 1 million global EV sales annually by 2030.

General Motors (NYSE: GM) has acquired a 25 percent ownership stake in Seattle-based Pure Watercraft, a company specializing in all-electric boating solutions. This collaboration aims to enhance sustainability and promote zero-emissions mobility beyond automotive applications. GM's investment aligns with its strategy of deploying technology across various industries, backed by a commitment of $35 billion in electric and autonomous vehicle technology through 2025. The partnership is expected to lead to new electric marine products, leveraging both companies' strengths.

EV Connect has been approved as a charging solutions provider for General Motors (NYSE: GM) dealerships in the U.S. and Canada. This partnership aims to enhance the deployment of EV charging stations across GM's network, with over 500 dealerships already signed up. EV Connect will deliver advanced charging management solutions, including data analytics and 24/7 support, to optimize the charging experience. This initiative aligns with GM’s commitment to launching 30 new EV models by 2025 and supports the Ultium Charge 360 initiative, providing drivers access to a network of over 85,000 public chargers.

GM Defense welcomed Deputy Secretary of Defense Kathleen Hicks at the GM Technical Center, discussing how its innovations will aid the DoD's transition to electric and autonomous operations. Secretary Hicks toured the Estes Engineering Center, the largest battery validation lab in North America, and experienced the Infantry Squad Vehicle. GM Defense aims to leverage a planned $35 billion investment in electric and autonomous technologies through 2025, emphasizing growth opportunities and modernization of military capabilities.

General Motors Co. (NYSE: GM) reported its third-quarter 2021 earnings, revealing a notable decline in revenue to $26.8 billion from $35.5 billion in Q3 2020. Net income dropped to $2.4 billion compared to $4.0 billion the previous year. However, the company expects full-year EBIT-adjusted earnings to approach the upper range of its guidance. Automotive operating cash flow plunged to $(2.6) billion, and adjusted free cash flow was $(4.4) billion. Despite these challenges, GM's overall financial performance remained strong, bolstered by a recall cost recovery agreement with LG Electronics and robust results at GM Financial.

General Motors Co. (NYSE: GM) will announce its third-quarter 2021 financial results on October 27, 2021, at 7:30 a.m. ET. A conference call for analysts will follow at 10 a.m. ET.

The earnings materials will be accessible on the company's Investor Relations website. Additionally, the fourth-quarter earnings announcement is scheduled for February 1, 2022.