SEOUL—South Korea’s LG Chem Ltd posted a 20 percent fall in quarterly profit on Monday, hurt by a one-off expense associated with the recall of General Motors’ Bolt electric vehicles. It reported an operating profit of 727 billion won ($617.55 million) for the July-September period, versus 904 billion won a year earlier and an average…
LG Chem Third Quarter Results Miss Estimates, Hit by GM Bolt Recall Cost
October 25, 2021
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GM Expedites Shipment of Pickup Trucks Parked Due to Lack of Chips: Executive
DETROIT—General Motors Co. is more than halfway through shipping newly-assembled pickups that it had parked due to a shortage of semiconductor chips, a top executive at the No. 1 U.S. automaker said on Friday. “We’ve made great progress,” Steve Carlisle, GM’s North American chief executive said at the Reuters Events Automotive Summit. “We’re a bit…
This Legacy Automaker Has a Better One-Year Return Than GM, Tesla, Nio, and Plug Power
Investors who added Ford Motor Company stock to their portfolios one year ago know the meaning of “Built Ford Tough.” Since October 2020, Ford stock’s one-year return has outperformed a number of the world’s most popular automobile, electric vehicle, and clean energy stocks: General Motors Company, Tesla Inc., Nio Inc.-ADR, and Plug Power Inc. Ford…
GM Extending Bolt Production Halt for Two Additional Weeks
October 13, 2021
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WASHINGTON—General Motors said Wednesday it will extend a production halt of its electric vehicle Chevrolet Bolt for two additional weeks as it works to accelerate production of new battery modules and prioritize recall repairs. The largest U.S. automaker in August widened its recall of the Bolt to more than 140,000 vehicles to replace battery modules…
South Korean Battery Firms to Shoulder $1.2 Billion of GM’s Bolt EV Recall Costs
SEOUL—South Korean battery firms LG Chem Ltd. and LG Electronics Inc. will be shouldering a combined $1.2 billion for General Motors Co.’s Bolt electric vehicle recall—the lion’s share of the expected costs. GM in August expanded the recall, which will replace LG battery modules due to the risk of fire, to more than 140,000 cars,…
GM Aims to Double Revenues by 2030 as It Drives to Pass Tesla
DETROIT—General Motors Co. Chief Executive Mary Barra told investors on Wednesday that the automaker plans to double revenue by 2030, expanding profits from combustion vehicles as it rolls out new electric vehicles and new digitally powered services in a bid to catch up with Tesla Inc. If GM succeeds, its annual revenue by 2030 would…
GM Aims to Profit From Software as It Broadens Its Electric Vehicle Lineup
DETROIT—General Motors Co plans to position itself as a technology platform company that is as focused on software as it is on making electric vehicles (EVs) when it meets with investors next week, including revealing a scheduled rollout for at least 20 EVs in the United States over the next several years. The No. 1…
Toyota Outsells GM in US for First Nine Months of 2021
October 2, 2021
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WASHINGTON—Japanese automaker Toyota Motor Corp. outsold General Motors Co. in the United States for the first nine months of 2021 as the Detroit automaker grappled with production problems stemming from the semiconductor chip shortage. Toyota during the first nine months sold 1.86 million vehicles compared with GM’s 1.78 million, or just over 80,000 more vehicles,…
GM, Ford Extend Some Production Cuts Due to Chip Shortage
October 1, 2021
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WASHINGTON—General Motors Co. and Ford Motor Co. said Thursday they will cut additional production because of the nagging semiconductor shortage that has hit global auto production. GM, the largest U.S. automaker, said it will extend by two weeks a halt to Chevrolet Blazer sport utility vehicle production at its Ramos plant in Mexico because of…
GM Chief Sees Chip Supplies Stabilizing but Below ‘Volume That We Really Need’
General Motors President Mark Reuss said Tuesday that he expects the global supply of semiconductors to stabilize but at lower levels than automakers need to rebuild their inventories. Reuss made the remarks at a conference hosted by the Detroit Regional Chamber in Michigan on Sept. 21, where he discussed GM’s plans for battery-powered car and…
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