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.
GM Defense, a subsidiary of General Motors (NYSE:GM), has named Hendrick Motorsports its 2022 Supplier of the Year. This award highlights suppliers who exceed expectations, delivering innovative technologies and quality solutions. Hendrick Motorsports supports GM Defense's Infantry Squad Vehicle (ISV), a light nine-passenger troop carrier designed for rapid ground mobility in the U.S. Army. The ISV features 90% commercial parts and is easily transportable by helicopters. Steve duMont, President of GM Defense, emphasized the importance of collaboration with Hendrick Motorsports in meeting military needs. The ISV is produced in Concord, North Carolina, near Hendrick's headquarters. GM recently recognized multiple suppliers at its 31st annual Supplier of the Year event in San Antonio, Texas.
General Motors (NYSE: GM) awarded Siemens Digital Industries Software with the 2022 Supplier of the Year accolade at its annual event in San Antonio, Texas. This marks the 6th time Siemens has received this honor for exceeding GM's expectations in innovative technology and quality. The award recognizes suppliers who demonstrate resilience and a commitment to sustainable innovation within the automotive industry. GM emphasized the importance of collaboration with top suppliers to enhance its ambitions around electrification and decarbonization. Siemens' president, Tony Hemmelgarn, highlighted the role of the Siemens Xcelerator portfolio and digital twin technology in driving the automotive sector's transformation.
General Motors (NYSE:GM) has awarded Alps Alpine North America the 2022 Supplier of the Year at its 31st annual Supplier of the Year event in San Antonio, Texas. This marks the 11th consecutive win for Alps Alpine, underlining its consistent performance and innovation within the automotive industry. The award recognizes suppliers that exceed GM's stringent requirements, highlighting their commitment to high-quality products and sustainable solutions. GM's Vice President of Global Purchasing emphasized the resilience and resourcefulness demonstrated by its suppliers amid ongoing challenges in the automotive sector. Alps Alpine, a leading manufacturer of electronic components since 1948, operates 110 bases globally and supplies a diverse range of products to numerous companies.
General Motors (GM) has announced a $50 million investment in Energy Exploration Technologies (EnergyX) to support the development of advanced lithium extraction technology. This strategic partnership aims to enhance lithium recovery in North America, crucial for electric vehicle (EV) batteries. EnergyX's innovative direct lithium extraction (DLE) technology promises to improve efficiency and sustainability in lithium production, with recovery rates exceeding 90%. The collaboration includes access to competitive lithium offtakes for GM’s exclusive use and additional financing for lithium production projects across North and South America. This investment reinforces GM's commitment to securing critical minerals for an all-electric future, thereby furthering its leadership position in the EV market.
Gage Products Company has been honored with the Overdrive Award at General Motors' 31st annual Supplier of the Year awards event in San Antonio, Texas. This recognition is shared by only 16 suppliers for their exemplary performance in sustainability and innovation. Gage's Vice President, Joe Porco, emphasized the collaborative effort of their team in achieving this honor. The Overdrive Award, introduced in 2012, acknowledges suppliers meeting GM's criteria, including sustainability, innovation, and launch excellence. Gage has partnered with GM since the 1980s, contributing to reducing environmental footprints through sustainable practices.
Ryder System, Inc. (NYSE: R) has been awarded the prestigious Overdrive award by General Motors (NYSE: GM) during GM’s 31st annual Supplier of the Year awards, held in San Antonio, Texas on March 22, 2023. Ryder was recognized among 16 companies for outstanding achievements in areas including sustainability, innovation, relationships, and supply chain efficiency. This marks the 11th time Ryder has received such recognition since the award's inception in 2012. With a partnership dating back to 1986, Ryder supports over 40 GM sites across North America, showcasing their long-term commitment and expertise in supply chain solutions.
The Overdrive award highlights Ryder's role in enhancing GM's supply chain resilience and efficiency, especially in a challenging automotive industry environment.
Universal Logistics Holdings, Inc. (NASDAQ:ULH) was recognized as a 2022 Supplier of the Year by General Motors (GM) during the company's 31st annual Supplier of the Year event in San Antonio, Texas. This prestigious award celebrates suppliers who exceed GM's standards, providing innovative technologies and high-quality service in the automotive sector. This marks the second time Universal has received this award, underscoring its commitment to customer satisfaction and supply chain efficiency. According to Universal's CEO, Tim Phillips, this honor reflects their team's dedication to delivering value to GM's supply chain, despite challenges faced in the automotive industry. The selection process for the award is based on various performance criteria, including purchasing and logistics.
GM Defense LLC, a subsidiary of General Motors, announced that the U.S. Army has granted a full-rate production decision for its Infantry Squad Vehicle (ISV). Initially awarded a $214.3 million contract in June 2020, GM Defense has already delivered over 300 vehicles to the Army's 82nd and 101st Airborne Divisions. The ISV, based on the Chevrolet Colorado ZR2 architecture, combines commercial parts for enhanced adaptability and efficiency in various mission profiles. The decision marks a significant achievement for GM Defense, strengthening the company's manufacturing credibility and paving the way for future production increases.
Labelmaster has been awarded the 2022 Supplier of the Year by General Motors (GM) for its exceptional support in the automotive supply chain. This recognition highlights Labelmaster's commitment to exceeding GM's stringent requirements through innovative solutions in the safe transport of dangerous goods. GM's vice president praised suppliers like Labelmaster for demonstrating resilience and sustainability amidst industry challenges. The award criteria included performance metrics across Purchasing, Manufacturing Services, and Logistics, further establishing Labelmaster's expertise in the hazardous materials sector, particularly in large format lithium battery transport.
General Motors (NYSE:GM) honored Brose as a 2022 Supplier of the Year at its 31st annual event in San Antonio, Texas. This marks the seventh time Brose has received this accolade. The award recognizes suppliers that exceed GM’s standards, providing innovative technologies and high-quality products. GM's vice president, Jeff Morrison, emphasized the resilience and innovation of its suppliers amid industry challenges. Brose, a leading automotive supplier, plays a significant role in the global automotive supply chain, employing 30,000 people and generating approximately €7.5 billion in sales in 2022.
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