Welcome to our dedicated page for General Motors Company news (Ticker: GM), a resource for investors and traders seeking the latest updates and insights on General Motors Company stock.
General Motors Company (GM) is a global leader in the automotive industry, dedicated to designing, building, and selling some of the world's best vehicles. Operating under four segments—GM North America, GM International, Cruise, and GM Financial—the company has a diversified portfolio that includes renowned brands like Chevrolet, Buick, GMC, Cadillac, and Holden. GM's vision is built on delivering vehicles with compelling designs, flawless quality, reliability, leading safety features, and advanced infotainment options. This commitment extends across 140 countries, unifying a team of world-class employees.
Established in 2009 after emerging from the bankruptcy of its predecessor, General Motors Corp., GM has since streamlined its operations, now focusing on four primary brands in the U.S. The company regained its market share leader position in 2022, holding a 16.5% share in 2023. Innovations in autonomous vehicle technology are highlighted through GM's Cruise division, which aims to restart driverless AV robotaxi services in at least one city by 2024, after a temporary halt in 2023.
Financially, GM remains robust. In the first quarter of 2024, the company reported $43.0 billion in revenue and a net income of $3.0 billion. These results are attributed to GM's strategic investments in EV technology, including the Ultium battery platform, which powers an expanding range of electric vehicles from mass-market to high-performance models.
Recent achievements include GM Defense's successful completion of the 2023 UAE Armed Forces Summer Trials with their Infantry Squad Vehicle (ISV). This demonstrates GM Defense's capability to deliver advanced, reliable off-road vehicles for military use. Additionally, GM Ventures invested in Neural Propulsion Systems (NPS) to enhance radar technology for automotive and defense applications. GM's initiatives in EV technology are also noteworthy, with the introduction of GM Energy's vehicle-to-home (V2H) bidirectional charging technology, starting with the 2024 Chevrolet Silverado EV.
Strategic partnerships and investments continue to play a vital role in GM's growth. Collaborations with companies like NPS and Mistral Inc. reflect GM's commitment to advancing automotive and defense technologies. The company's diverse product offerings and continuous innovation ensure it remains at the forefront of the automotive industry.
ChargePoint (NYSE: CHPT) and General Motors (GM) have announced a collaboration to install hundreds of ultra-fast EV charging ports across the United States by the end of 2025. The initiative features ChargePoint's Omni Port system, which enables both CCS and NACS charging without adapters, and the Express Plus platform capable of charging speeds up to 500kW.
The collaboration includes an incentive program to facilitate third-party charge point operators (CPOs) in owning and operating EV charging infrastructure. The stations will be branded as GM Energy and aim to improve charging accessibility while providing faster charging experiences for EV drivers.
Nouveau Monde Graphite (NMG) has secured a US$50-million equity investment from Canada Growth Fund (CGF) and the Government of Québec through Investissement Québec. The investment involves issuing 39,682,538 common shares at US$1.26 per share, with each share accompanied by a warrant exercisable at US$2.38. The funding will support NMG's Phase-2 Matawinie Mine and Bécancour Battery Material Plant development through detailed engineering and long-lead item orders.
The investment marks CGF's first direct investment and demonstrates continued support from Québec. The deal is expected to close around December 19, 2024, subject to regulatory approvals. NMG plans to release an updated feasibility study for its integrated Phase-2 operations in early Q1-2025, focusing on optimizing production parameters, engineering, and cost projections.
EVgo (NASDAQ: EVGO) and General Motors have achieved a significant milestone by surpassing 2,000 public fast charging stalls across the United States. The charging infrastructure spans 390 locations in 45 metropolitan markets across 32 states, doubling their footprint in just over a year. The companies are progressing toward their target of 2,850 DC fast charging stalls nationwide, including 400 public fast charging stalls at flagship destinations in major metropolitan markets.
Their 2,000th stall, located in Murrieta, CA, features five 350kW fast chargers capable of serving up to 10 vehicles simultaneously. The collaboration focuses on installing chargers in amenity-rich locations such as grocery stores, retail centers, and city centers, particularly serving customers unable to charge at home or work.
General Motors (GM) has achieved a historic milestone by conducting the largest hands-free caravan across the Bay Bridge between San Francisco and Oakland, featuring all 20 of their Super Cruise-enabled vehicles. Launched in 2017, Super Cruise stands as the industry's first true hands-free advanced driver assistance system, offering the widest selection of compatible models compared to competitors who have nine or fewer. GM's system uniquely provides hands-free towing capabilities. The company plans to expand its hands-free technology lineup in 2025 with upcoming models including the Cadillac VISTIQ and Escalade IQ.
Nouveau Monde Graphite (NMG) reports progress on its Phase-2 operations, with integrated feasibility study results expected in Q1-2025. The company has received cumulative expressions of interest totaling approximately $1.4 billion for project financing and is eligible for a $350 million Canadian investment tax credit. NMG is advancing product qualification and commercial requirements with anchor customers Panasonic Energy and GM, who committed approximately US$275 million in future funding upon positive FID. The company awarded the Matawinie Mine's electrical substation contract to ABB and continues zero-emission mining equipment development with Caterpillar. Period-end cash position stands at $56.5 million.
GM Defense has completed production of its first Suburban Shield vehicles for the U.S. State Department's Diplomatic Security Service (DSS) HD SUV program. The vehicle features a new body-on-frame chassis, enhanced suspension, and incorporates commercial parts from GM's global supply chain. Assistant Secretary Smith praised the prototype's performance, noting superior acceleration, handling, and braking compared to existing vehicles. The program, awarded to GM Defense last year, will support DSS and other federal agencies with vehicles designed for challenging diplomatic missions.
General Motors (NYSE: GM) reported third-quarter 2024 results with revenue of $48.8 billion, net income of $3.1 billion, and EBIT-adjusted of $4.1 billion. GM has updated its 2024 full-year guidance for the third consecutive quarter, raising expectations for net income, EBIT-adjusted, automotive operating cash flow, and adjusted automotive free cash flow.
Key financial highlights include:
- Revenue increased 10.5% year-over-year to $48.8 billion
- EBIT-adjusted rose 15.5% to $4.1 billion
- EPS-diluted-adjusted grew 29.8% to $2.96
- Automotive operating cash flow improved 15.7% to $7.9 billion
GM's updated 2024 guidance now projects net income of $10.4-$11.1 billion, EBIT-adjusted of $14.0-$15.0 billion, and EPS-diluted-adjusted of $10.00-$10.50.
General Motors (NYSE: GM) has announced a fourth-quarter 2024 cash dividend of $0.12 per share on its outstanding common stock. The dividend will be payable on December 19, 2024, to all common shareholders of record as of the close of trading on December 6, 2024.
GM is positioning itself as a leader in the future of transportation, focusing on advanced technology to create safer, smarter, and lower emission vehicles. The company's portfolio includes both innovative gasoline-powered vehicles and a wide range of electric vehicles (EVs) across its Buick, Cadillac, Chevrolet, and GMC brands, as it transitions towards an all-electric future.
Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) has announced that its subsidiary, Graphite One Products Inc., has signed a technology license agreement and a consulting agreement with Hunan Chenyu Fuji New Energy Technology Co. , a Chinese Anode Active Material (AAM) manufacturer. These agreements provide exclusive access to AAM technology for the North American market, marking a important step in creating a domestic U.S. supply chain for advanced graphite materials.
The agreements include:
- An exclusive license for AAM technologies in exchange for royalties
- Consulting services for designing, constructing, and operating an Ohio AAM plant
- Rights of first negotiation for next-generation products and additional markets
Graphite One plans to construct a commercial AAM facility in Warren, Ohio, subject to financing. The company views these agreements as critical for bringing leading AAM manufacturing technology to the U.S. domestic supply chain for battery materials.
GM Defense, a subsidiary of General Motors (GM), will unveil its new 'Next Gen' tactical vehicle prototype at AUSA 2024. Based on the Chevrolet Silverado 2500HD ZR2 truck, Next Gen combines GM's 2.8L Duramax® Turbo-Diesel engine with a 12-module battery pack and drive motors for front and rear axles. The vehicle offers Silent Drive and Silent Watch capabilities, making it harder to detect in high-threat zones.
Key features include:
- Exportable power for high-energy-demand systems
- Active and passive safety features
- Tactically significant range with extended mission duration
- Autonomy-ready design with manned and unmanned options
- Add-on armor capability
Next Gen is available in two-, four-, and six-seat configurations, supporting various mission capabilities. The vehicle aims to provide tactical advantages while offering sustainment benefits such as fuel demand reduction and lower maintenance requirements.
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