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) announced its compliance with NHTSA's directive to replace airbag inflators in certain vehicles, despite believing a recall is unwarranted. The company disagrees with NHTSA's assessment based on extensive independent scientific evaluation over the years. GM prioritizes the safety and trust of its customers, ensuring that measures are taken to uphold these values while adhering to regulatory requirements.
General Motors Co. (NYSE: GM) has announced a substantial increase in its financial commitment to electric vehicles (EVs), raising the investment from $20 billion to $27 billion through 2025. By mid-decade, GM plans to launch 30 all-electric models globally, with about 40% of its U.S. entries being battery electric vehicles by the end of 2025. The company aims to enhance its competitive edge in batteries and software, with a projected EV range of up to 450 miles on a single charge. GM emphasizes its resolve to expedite the transition to an all-electric future.
General Motors has launched OnStar Insurance Services, aiming to enhance customer safety and experience in vehicle insurance. The agency will provide exclusive coverage leveraging GM's automotive expertise, offering personalized, secure, and fair policies. Initially available to GM employees in Arizona, it will expand to the general public in early 2021. OnStar Insurance incentivizes safe driving habits with potential discounts, integrating OnStar's technology for responsive services in emergencies.
General Motors Co. (NYSE: GM) reported strong third-quarter earnings, showcasing resilience during the pandemic. Key highlights include:
- EPS-diluted of $2.78, adjusted EPS of $2.83
- Income of $4.0 billion; EBIT-adjusted at $5.3 billion
- Revenue reached $35.5 billion
- Automotive liquidity at $37.8 billion
- Operating cash flow of $9.9 billion
The company continues to invest in electric and autonomous vehicles, maintaining leading market share in full-size pickups and SUVs.
General Motors Co. (NYSE: GM) announced the appointment of Paul Jacobson as executive vice president and chief financial officer, effective Dec. 1. Previously, Jacobson served as CFO of Delta Air Lines, significantly enhancing its reputation. GM's chairman, Mary Barra, praised Jacobson's leadership in driving the company's vision for zero crashes, zero emissions, and zero congestion. John Stapleton, the acting CFO since Aug. 31, will return to focus solely on North America.
GM Defense LLC, a subsidiary of General Motors, has successfully delivered the first Infantry Squad Vehicle (ISV) to the U.S. Army, fulfilling a $214.3 million contract awarded in June 2020. This marks GM Defense's initial significant delivery since its reestablishment in 2017. The ISV is built on the Chevrolet Colorado ZR2 architecture and utilizes 90% commercial-off-the-shelf parts for enhanced performance and mobility. The vehicle can be transported by various military helicopters, showcasing GM Defense's commitment to innovative military solutions and efficiency.
General Motors Co. (NYSE: GM) announced a $2 billion investment to transform its Spring Hill, Tennessee, plant into a manufacturing site for electric vehicles (EVs), including the Cadillac LYRIQ. This initiative marks GM's commitment to an all-electric future, alongside similar transitions at Factory ZERO in Detroit and Orion Assembly in Michigan. The funding will enhance plant infrastructure, while additional investments in five other Michigan facilities total over $100 million for new vehicle production. Since 2009, GM's U.S. manufacturing investments exceed $29 billion.
General Motors has been recognized for producing the most American-made vehicle models according to two independent studies. In the Cars.com American-Made Index, nine out of the top 25 models are GM products. The American University Kogod School of Business index ranks ten GM models in the top 25 and highlights GM's leadership in total domestic content. Since 2009, GM has invested over $27 billion in U.S. manufacturing, with a focus on electric vehicle components and assembly, including a recent $2.2 billion investment in the Factory ZERO for electric trucks and SUVs.
General Motors Co. (NYSE: GM) will report its third quarter 2020 financial results on November 5, 2020, at 7:30 a.m. ET. A press release and presentation will be available on the Investor Relations website. Following the announcement, GM will host a conference call at 10 a.m. ET to discuss the results. Participants can join via specific call-in numbers provided. Future earnings announcements are scheduled for February 10, 2021, and May 5, 2021.
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