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.
Dana Incorporated (NYSE: DAN) has been recognized as a 2020 Supplier of the Year by General Motors for its driveline technologies and sealing solutions. This marks the fourth consecutive year Dana has received this award, chosen by a GM global team based on stringent performance criteria across various sectors. In 2020, Dana reported sales of $7.1 billion and has maintained a long-standing partnership with GM since 1904. The recognition underscores Dana's commitment to innovation and sustainable practices in the automotive industry.
General Motors has partnered with Shell to offer comprehensive renewable energy solutions to its customers and suppliers, starting in Texas. Eligible owners of GM vehicles can access fixed-rate home energy plans powered by 100% renewable resources. Notably, electric vehicle owners will benefit from free overnight charging options. Both companies are committed to ambitious sustainability goals, with GM aiming for carbon neutrality by 2040 and Shell targeting net-zero emissions by 2050. The collaboration includes plans to expand offerings across the U.S. in the future.
GP Strategies (NYSE: GPX) has been awarded the GM Supplier of the Year for the 4th time, recognizing its exceptional performance in 2020. The award was presented to 122 suppliers globally, highlighting those who exceeded General Motors' requirements. GM emphasized the importance of supplier resilience and innovation during challenging times, aligning with their mission for zero crashes, emissions, and congestion. The selection was based on multiple performance criteria, showcasing GP Strategies' commitment to supporting GM's business priorities and sustainability goals.
General Motors Co. (NYSE: GM) has announced a significant increase in its EV and AV investments, raising the total commitment to $35 billion from 2020 to 2025, a 75% increase over previous announcements. This funding aims to solidify GM's position as a leader in electric vehicles and battery technology. The company targets over 1 million global EV sales by 2025, driven by strong consumer demand and commitments to enhance charging infrastructure. GM expects EBIT-adjusted results in the $8.5 to $9.5 billion range for the first half of 2021, despite ongoing semiconductor shortages.
Wabtec Corporation (NYSE: WAB) and General Motors (NYSE: GM) are collaborating to develop GM's Ultium battery and HYDROTEC hydrogen fuel cell technologies for Wabtec locomotives. This partnership aims to promote a zero-emission future in rail transportation. Wabtec's FLXdrive locomotive can reduce carbon emissions by 30% and is the world's first fully battery-powered locomotive. The nonbinding memorandum of understanding signifies both companies' commitment to advancing sustainable rail solutions using advanced propulsion technologies.
On June 3, 2021, General Motors announced plans to boost vehicle deliveries in the U.S. and Canada due to high consumer demand. Key points include an increase in the production of Silverado HD and Sierra HD pickups by 1,000 trucks per month starting mid-July and a shipment increase of 30,000 units for Colorado and Canyon pickups. GM also indicated no summer downtime for crucial assembly plants. The company expects first-half financial results to exceed prior guidance, with optimism for full-year performance.
Lockheed Martin (NYSE: LMT) and General Motors (NYSE: GM) have partnered to develop next-generation lunar vehicles for NASA's Artemis program, enhancing lunar exploration capabilities. The Lunar Terrain Vehicle (LTV) aims to enable astronauts to travel farther on the Moon's rugged terrain, especially at the Moon's south pole. Lockheed Martin will leverage over 50 years of experience with NASA, while GM will integrate advanced battery-electric technologies and autonomous systems for improved operational efficiency. This partnership represents a significant advancement in space exploration technology.
TROY, Mich., May 24, 2021 /PRNewswire/ -- BetterInvesting Magazine has named The Hershey Co. (NYSE: HSY) as its 'Stock to Study' and General Motors Co. (NYSE: GM) as its 'Undervalued Stock' in the August 2021 issue. CEO Ken Zendel emphasized the importance of self-research in investment decisions as the economy stabilizes. The magazine provides educational resources to help investors assess these stocks. Interested investors can explore the August issue for deeper insights into Hershey and GM's potential.
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