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.
General Motors and AT&T announced a partnership to integrate 5G cellular connectivity into GM vehicles over the next decade. This collaboration aims to enhance in-vehicle experiences with features like improved navigation, faster downloads, and secure software updates. The rollout will begin with select model year 2024 vehicles, while existing 4G LTE vehicles will also benefit from upgrades. This initiative aligns with GM's strategy for an all-electric and autonomous future, leveraging AT&T's extensive 5G network to set a new standard for automotive connectivity.
EVgo announced second quarter results for 2021, reporting revenue of $4.8 million, up from $4.1 million in Q1 2021. The customer count has surpassed 275,000, reflecting the strong uptake of EV adoption and EVgo’s products. Notably, the company added 104 new charging stalls, bringing the total to 1,548. Despite the growth, EVgo faces challenges with a net loss of $18.4 million and a gross loss of $2.8 million. The company's guidance for full-year revenue is affirmed at $20 million.
General Motors Co. (NYSE: GM) reported impressive second-quarter earnings on Aug. 4, 2021, with revenues of $34.2 billion and net income of $2.8 billion. The company saw a significant increase in retail market share within full-size pickups and capitalized on high used vehicle prices. GM raised its full-year guidance, projecting net income between $7.7 billion and $9.2 billion. With a diluted EPS of $1.90, investors can look forward to a strong growth trajectory fueled by EV and AV initiatives.
General Motors Co. (NYSE: GM) is set to release its second-quarter 2021 financial results on August 4, 2021, at 7:30 a.m. ET, followed by an analysts' conference call at 10 a.m. ET. Financial materials will be accessible via their Investor Relations website.
Highlights include the upcoming third-quarter earnings announcement on October 27, 2021. GM is actively pursuing an all-electric future, driven by its Ultium battery platform, catering to a diverse range of vehicles.
Alps Alpine Co., Ltd. was awarded the GM Supplier of the Year for the seventh consecutive year, recognized among 122 suppliers globally. This award reflects their exceptional performance in supporting GM's mission for zero crashes, emissions, and congestion during a challenging year. GM's selection criteria included product purchasing, manufacturing services, and logistics. Alps Alpine operates in 26 countries, offering a wide range of automotive and electronic components. GM is advancing towards an all-electric future with the Ultium battery platform.
Brose has been recognized as a Supplier of the Year by General Motors (GM) for the sixth consecutive year, highlighting its performance in 2020. GM awarded 122 suppliers from 16 countries based on criteria like product purchasing and customer care. Brose's commitment to innovation and quality has been pivotal in supporting GM's mission towards zero crashes, emissions, and congestion. With over 25,000 employees generating 5.1 billion euros in sales, Brose continues to be a key partner in the automotive industry, reflecting resilience and dedication during challenging times.
General Motors has entered a strategic investment and collaboration with Controlled Thermal Resources (CTR) to secure local, low-cost lithium for electric vehicle (EV) batteries. This partnership focuses on a closed-loop extraction process, minimizing environmental impact and emissions compared to traditional mining methods. GM is the first investor in CTR's Hell's Kitchen project, with plans to source future lithium needs domestically. The first lithium production is expected in 2024. This move aligns with GM's commitment to an all-electric future, aiming for zero tailpipe emissions by 2035.
On June 25, 2021, Hankook Tire was awarded the prestigious Supplier of the Year title by General Motors (GM) for 2020, marking the fifth consecutive year of recognition. GM honored 122 suppliers from 16 countries, highlighting those who exceeded operational requirements and contributed innovative technologies. GM's VP, Shilpan Amin, emphasized the importance of resilience among suppliers in achieving long-term sustainability. The selection was based on performance across various criteria, showcasing Hankook's commitment to quality and innovation in tire technology for GM vehicles.
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