Latest General Motors Co News

Shares of EV maker Lucid slide after disclosing SEC subpoena

Dec. 06, 2021 10:42 AM EST

SILVER SPRING, Md. (AP) — Shares in the electric vehicle startup Lucid Group tumbled Monday after saying that said it had been subpoenaed by government regulators, apparently over the process by which it became a publicly-traded company last summer. Lucid shares skidded 18% at the...

UAW votes for direct election of leaders in wake of scandal

Dec. 02, 2021 17:09 PM EST

DETROIT (AP) — Members of the United Auto Workers union have overwhelmingly approved picking their leaders by direct ballot elections, rejecting a system that many blamed for a bribery and embezzlement scandal in the union's top ranks. The “one member, one vote”...

GM cites improved chip supply in raising financial guidance

Dec. 01, 2021 15:33 PM EST

DETROIT (AP) — Citing an improved supply of automotive computer chips, General Motors raised its financial guidance on Wednesday and said it expects to return to a normal production rate by the end of next year. Chief Financial Officer Paul Jacobson told investors on a...

GM exploring electric boats, buys 25% stake in engine maker

Nov. 22, 2021 12:35 PM EST

DETROIT (AP) — General Motors is testing the water in electric boating by buying a 25% stake in a Seattle company that makes battery-powered outboard motors. The Detroit automaker said Monday that it bought the stake in Pure Watercraft for a venture that it says will...

Biden pushes electric vehicle chargers as energy costs spike

Nov. 17, 2021 17:52 PM EST

DETROIT (AP) — President Joe Biden punched the accelerator on a battery-powered Hummer on Wednesday, causing the wheels to squeal and the truck to jet forward as he tried in his own way to drive the country toward an electric vehicle future. The engine was quiet as the...

Biden bill includes boost for union-made electric vehicles

Nov. 11, 2021 17:42 PM EST

WASHINGTON (AP) — President Joe Biden and Democrats in Congress are looking to give U.S. automakers with union employees the inside track on the burgeoning electric vehicle market, triggering vocal opposition from foreign trade partners and Republicans who worry that manufacturers in their...

Rivian rockets past GM to become 2nd most valuable carmaker

Nov. 11, 2021 11:12 AM EST

NEW YORK (AP) — Rivian Automotive, a company that has delivered about 150 electric pickup trucks mostly to employees, has surpassed General Motors to become the nation's second most valuable automaker. The California company's market valuation exceeded Ford's in its...

Electric truck maker Rivian zooms to $86B market value

Nov. 10, 2021 16:50 PM EST

SILVER SPRING, Md. (AP) — Shares of Rivian Automotive jumped in their debut Wednesday, rising as much as 53% as investors look for the next big winner in the electric vehicle market. The closing price of $100.73 gave Rivian a market value of about $85.9 billion,...

AP FACT CHECK: Biden hypes $1T bill impact on electric cars

Nov. 07, 2021 15:11 PM EST

WASHINGTON (AP) — Boasting about his $1 trillion infrastructure package, President Joe Biden overstated its reach by claiming it would result in 500,000 electric vehicle charging stations and meet his pledge to nudge half of U.S. drivers into EVs by decade’s end. The...

South Carolina Commerce chief Lightsey pledges transparency

Nov. 04, 2021 10:53 AM EDT

COLUMBIA, S.C. (AP) — Reflecting on his first months on the job, Commerce Secretary Harry Lightsey says his dual-tracked background in the automotive and telecommunications industries will inform his tenure leading the agency tasked with growing and maintaining South Carolina’s business...