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 (NYSE: GM) and Barclays US Consumer Bank have entered into a long-term partnership agreement for Barclays to become the exclusive issuer of the GM Rewards Mastercard and GM Business Mastercard in the United States starting next summer. The partnership aims to enhance loyalty and engagement with millions of GM customers.
Key points:
- GM has the largest customer base of any automaker in the US
- The GM credit card portfolio, launched in 1992, is one of the nation's longest-tenured cobrand credit card programs
- Cardmembers can earn and redeem rewards on new Chevrolet, Cadillac, Buick, and GMC vehicles, including GM's new electric vehicle lineup
- Barclays will acquire the card program's receivables from the current issuer next year
- The partnership aligns with Barclays' growth strategy to establish partnerships with America's best brands
General Motors (NYSE: GM) has announced that its EV drivers will now have access to over 17,800 Tesla Superchargers, significantly expanding their charging options. This move increases GM's total accessible public chargers to more than 231,800 across North America. GM customers can purchase a GM-approved NACS DC adapter for $225 USD through their vehicle brand apps, which will also allow them to locate, initiate, and pay for charging sessions at Tesla Superchargers.
The expansion begins in the United States, with Canadian availability later this year. GM is working with multiple suppliers to produce the adapters, ensuring compatibility with the North American Charging Standard. This initiative is part of GM's broader strategy to accelerate the deployment of EV charging infrastructure and support its commitment to an all-electric future.
EVgo and General Motors are expanding their collaboration to deploy 400 fast charging stalls at flagship destinations across major U.S. metropolitan areas. These new stations will feature 350kW fast chargers, ample lighting, canopies, pull-through stations, and security cameras. Most flagship stations will have up to 20 stalls, with some locations offering even more. The stations will be co-branded by EVgo and GM Energy and located near amenities like shopping and dining.
The first flagship location is expected to open in 2025. This initiative is part of a larger plan to build a total of 2,850 DC fast charging stalls. EVgo and GM celebrated the opening of their 1,000th fast charging stall in August 2023 and aim to install their 2,000th stall by the end of 2024.
General Motors (NYSE: GM) and Hyundai Motor Company (KRX: 005380 KS) have signed a Memorandum of Understanding to explore future collaboration across key strategic areas. The partnership aims to leverage their complementary strengths to reduce costs and bring a wider range of vehicles and technologies to customers faster.
Potential collaboration projects include:
- Co-development and production of passenger and commercial vehicles
- Internal combustion engines and clean-energy technologies
- Electric and hydrogen technologies
- Combined sourcing for battery raw materials and steel
The agreement was signed by Hyundai Motor Group Executive Chair Euisun Chung and GM Chair and CEO Mary Barra. Both leaders emphasized the potential for increased efficiency, competitiveness, and customer value through this partnership.
Boeing [NYSE: BA] has announced plans to launch Q4S, a satellite designed to demonstrate quantum entanglement swapping capabilities in orbit by 2026. This pioneering mission aims to advance the development of a secure, global quantum internet connecting quantum sensors and computers. The year-long demonstration will involve two entangled-photon pair sources in a space vehicle, with technology partner HRL Laboratories contributing to the payload design.
Key points:
- Q4S satellite launch scheduled for 2026
- Aims to prove quantum networking feasibility in space
- Potential applications include fault-tolerant systems, secure voting, and blind quantum computing
- Boeing-funded initiative to expand quantum networks beyond point-to-point communication
- Demonstration expected to last one year
Nouveau Monde Graphite Inc. (NMG) reports progress on its Phase-2 Matawinie Mine and Bécancour Battery Material Plant projects, moving towards a final investment decision (FID). Key developments include:
- Accelerated engineering of Phase-2 facilities to update the integrated ore-to-anode-material feasibility study
- Preliminary work at the Phase-2 Bécancour Battery Material Plant site
- Progress on zero-emission equipment development for the Matawinie Mine with Caterpillar
- Approval of the powerline path for the Matawinie Mine
- $500,000 research grant awarded for next-generation active anode materials
- Continued commercial engagement for remaining Phase-2 production capacity
- Improving market conditions with rising natural graphite prices and EV sales growth
- Period-end cash position of $73.9 million
The company's multiyear offtake agreements with Panasonic Energy and General Motors, combined with favorable market dynamics, provide a solid foundation for scaling up operations.
GM Defense Canada, a subsidiary of GM Defense, has been awarded a C$35.8 million contract by the Canadian Armed Forces (CAF) for 90 light tactical vehicles (LTVs), with an option for 18 more. The contract includes training, technical manuals, and additional vehicle content from Canadian companies. The LTVs, based on the Chevrolet Colorado ZR2 architecture, will support NATO's Enhanced Forward Presence Multinational Battlegroup in Latvia.
The vehicles, weighing under 5000 pounds, offer enhanced off-road capability, air transportability, and easy maintenance. GM Defense Canada anticipates delivering the first vehicles five weeks after the contract award. This contract is seen as the beginning of a long-term partnership with the CAF, leveraging General Motors' resources to provide tactical mobility for soldiers.
General Motors (NYSE: GM) reported strong Q2 2024 results, with revenue of $48.0 billion, net income of $2.9 billion, and EBIT-adjusted of $4.4 billion. The company raised its full-year 2024 guidance, projecting net income of $10.0-$11.4 billion and EBIT-adjusted of $13.0-$15.0 billion. GM's performance showed significant improvement, with a 7.2% increase in revenue and a 37.2% rise in EBIT-adjusted compared to Q2 2023. The company's EBIT-adjusted margin expanded to 9.3%, up 2.1 percentage points year-over-year. GM North America (GMNA) performed exceptionally well, with EBIT-adjusted up 38.8% to $4.4 billion.
General Motors Co. (NYSE: GM) has announced a third-quarter 2024 cash dividend of $0.12 per share on its outstanding common stock. The dividend is payable on September 19, 2024, to shareholders of record as of the close of trading on September 6, 2024. This announcement reflects GM's commitment to returning value to its shareholders.
GM is a global company focused on advancing an all-electric future, with its Ultium battery platform at the core of its strategy. The company sells vehicles under various brands including Chevrolet, Buick, GMC, Cadillac, Baojun, and Wuling. GM's portfolio also includes OnStar, a leader in connected vehicle technology and safety services.
GM Defense, a subsidiary of General Motors, is collaborating with the University of Texas at Arlington (UTA) and the Naval Surface Warfare Center Philadelphia Division to evaluate electric vehicle battery technology for military applications. The project, funded by the U.S. Department of Defense, leverages GM's Ultium Platform to address energy storage challenges in high-power operations. This initiative aims to enhance military capabilities and provide scalable energy solutions for future use in military platforms. Insights from this project will contribute to the development of advanced power and energy technologies for the Department of Defense.
FAQ
What is the current stock price of General Motors Company (GM)?
What is the market cap of General Motors Company (GM)?
What brands are under General Motors?
When did GM emerge from bankruptcy?
What are the main segments GM operates under?
What is GM's market share in the U.S. as of 2023?
What is the Ultium battery platform?
What is GM Defense's Infantry Squad Vehicle (ISV)?
What is GM Energy's V2H technology?
How is GM contributing to autonomous vehicle technology?
What recent investments has GM made in radar technology?
Where can I find more information about GM's initiatives?
