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General Motors Co

GM to invest $71mn for new design and tech campus in California
Business & Finance

GM to invest $71mn for new design and tech campus in California

  • General Motors said the campus will include an innovation lab and immersive technology capabilities, including augmented and virtual reality.
  • GM presented in January a futuristic flying Cadillac - a self-driving vehicle which takes off and lands vertically and carries the passenger above the streets and through the air.
Published 13 Jul, 2021 05:39pm
GM profit shrugs off chip shortage with high-priced pickups, SUVs
Business & Finance

GM profit shrugs off chip shortage with high-priced pickups, SUVs

  • Barra added that the No. 1 US automaker's "supply chain and manufacturing teams are maximizing production of high-demand and capacity-constrained vehicles."
  • In a conference call with reporters, Barra said that the chip shortage will worsen in the second quarter before starting to improve in the second half of the year.
Published 05 May, 2021 06:18pm
GM, LG Energy Solution to build 2nd US battery plant in Tennessee
Business & Finance

GM, LG Energy Solution to build 2nd US battery plant in Tennessee

  • The planned 2.8 million-square-foot plant, scheduled to open in late 2023, will employ 1,300 people and is expected to have a production capacity similar to the companies' Ultium Cells joint-venture plant in Lordstown, Ohio, of about 35 gigawatt-hours as they move to respond to the growing demand in the electric vehicle market.
  • LG Chem said in a regulatory filing that its LG Energy Solution unit will invest $933.5 million in the plant between this year and 2023.
Published 16 Apr, 2021 07:57pm
GM builds pickups without certain modules due to global chip shortage, hurting fuel economy
Business & Finance

GM builds pickups without certain modules due to global chip shortage, hurting fuel economy

  • The lack of the active fuel management/dynamic fuel management module means affected models, equipped with the 5.3-liter EcoTec3 V8 engine with both six-speed and eight-speed automatic transmission, will have lower fuel economy by one mile per gallon, spokeswoman Michelle Malcho said.
  • "By taking this measure, we are better able to meet the strong customer and dealer demand for our full-size trucks as the industry continues to rebound and strengthen," Malcho wrote in an email.
Updated 15 Mar, 2021 09:24pm
GlobalFoundries, Bosch to develop radar chips for self-driving car features
Business & Finance

GlobalFoundries, Bosch to develop radar chips for self-driving car features

  • Under the deal, Santa Clara, California-based GlobalFoundries said it will make high-frequency radar chips for Bosch at its Fab 1 facility in Dresden, Germany. Radar chips are widely used in vehicles for driver-assistance features such as emergency braking, lane-keeping and parking assistance.
  • Rather than source the chips from a third-party company to put inside a radar module, Bosch is working directly with the chip contract manufacturer to have its own design custom-made.
Updated 09 Mar, 2021 09:33pm
US factory orders surge, but business spending on equipment slowing
World

US factory orders surge, but business spending on equipment slowing

  • The Commerce Department said on Thursday that factory orders shot up 2.6% after rising 1.6% in December. Economists polled by Reuters had forecast factory orders advancing 2.1% in January. Orders increased 1.3% on a year-on-year basis.
  • Unfilled orders at factories edged up 0.1% in January after decreasing 0.2% in December.
Updated 04 Mar, 2021 09:52pm