Tag: Mary Barra

Business

GM ups spending on EVs and autonomous automobiles to $35 billion by 2025

DETROIT — General Motors mentioned Wednesday it should improve spending on electrical and autonomous automobiles to $35 billion via 2025, a 30% improve from plans introduced late final yr. It additionally mentioned it's elevating its earnings steerage for the primary half of the yr.The extra cash might be used to increase its rollout of EVs and speed up manufacturing of its battery and gasoline cell applied sciences, together with two new U.S. battery crops along with two under construction, by 2025.America's largest automaker is racing to catch as much as EV chief Tesla and compete for a management place towards different well-established automakers corresponding to Volkswagen. GM plans to promote greater than 1 million EVs yearly by 2025."There are a number of progress engines in Normal ...
Business

GM CEO Mary Barra says firm is value extra preserving EV battery unit in home

Normal Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Middle campus in Warren, Michigan.Picture by Steve Fecht for Normal MotorsGeneral Motors CEO Mary Barra on Wednesday as soon as once more pushed again on spinning off its rising electrical automobile battery enterprise.Maintaining the unit inside GM will create extra worth for the corporate than spinning it off, Barra mentioned. "For an electrical automobile, it is all concerning the battery," she mentioned in an interview on "Squawk on the Street." "I feel preserving that expertise shut and leveraging the deep battery experience now we have at Normal Motors is the best way we will speed up that worth creation."Barra touted the corporate's plans to promote its Ultium battery cells i...
Business

Basic Motors (GM) earnings Q1 2021 crush expectations

DETROIT — General Motors on Wednesday reported first-quarter outcomes that blew away Wall Street earnings expectations, saying it expects a powerful first half of the yr regardless of the worldwide semiconductor chip scarcity that has induced manufacturing facility closures.This is how GM did in contrast with what Wall Street anticipated based mostly on common estimates compiled by Refinitiv.Adjusted EPS: $2.25 vs. $1.04 anticipated based mostly on common analysts' estimates compiled by Refinitiv.Income: $32.47 billion, vs. $32.67 billion anticipated.GM reaffirmed its earnings expectations for the yr, guiding towards the high-end of its vary. The corporate forecast $10 billion to $11 billion, or $4.50 to $5.25 per share, in adjusted pretax income, and adjusted automotive free money circula...