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GM’s Autonomous Driving Unit Cruise to Tap $5 Billion Credit Line to Mass Produce the Origin Autonomous Shuttle

GM’s Autonomous Driving Unit Cruise to Tap $5 Billion Credit Line to Mass Produce the Origin Autonomous Shuttle

Cruise, the autonomous driving unit of automaker General Motors, plans to access a $5 billion line of credit to finance the purchase of tens of thousands of Cruise Origin shuttles, a commercial autonomous ride-hailing vehicle being built by GM, Honda Motor Co and Cruise. The funds will be made available through GM’s automotive financing arm GM Financial.

Eric Walz2021-06-15 09:00 PT

CEO, CFO of Electric Truck Startup Lordstown Motors Abruptly Resign

CEO, CFO of Electric Truck Startup Lordstown Motors Abruptly Resign

Electric truck startup Lordstown Motors on Monday announced the sudden departure of Chief Executive and founder Steve Burns and Chief Financial Officer Julio Rodriguez. The departure of Burns comes just days after the electric truck maker warned that it may not have enough money to stay in business over the next year, sending shares down more than 20% in early trading to $9.12.

Eric Walz2021-06-14 08:15 PT

GM Agrees to California’s Emissions Requirement, Wants Federal Help for EV Adoption

GM Agrees to California’s Emissions Requirement, Wants Federal Help for EV Adoption

General Motors has changed its tune on California’s emissions requirements that were put into effect in 2019, but requested flexibility from the Biden Administration.

Vineeth Joel Patel2021-06-13 22:15 PT

Senate Finance Committee Advances Bill That Includes Raising the Federal Tax Credit up to $12,500 on U.S.-Made EVs

Senate Finance Committee Advances Bill That Includes Raising the Federal Tax Credit up to $12,500 on U.S.-Made EVs

​After a hearing on Wednesday, the U.S. The Senate Finance Committee advanced legislation for the “Clean Energy for America Act”, which includes a proposed increase to the current federal EV tax credit of up to $7,500 on the purchase of a zero emissions electric vehicle. The bill also includes a 30% tax credit for manufacturers to retool or build new facilities to produce advanced energy technologies including EV batteries, as well as incentives to for the purchase commercial electric vehicles.

Eric Walz2021-05-27 14:00 PT

Ford is Boosting its EV Investments to More Than $30 Billion, Stock Reaches 5-Year High

Ford is Boosting its EV Investments to More Than $30 Billion, Stock Reaches 5-Year High

U.S. automaker Ford is boosting investments in electrification as it looks to take on Tesla, Volkswagen and General Motors and others in the electric vehicle space. The increased investments in EVs is part of a plan called "Ford+" in which Ford would be more like a technology company rather than an automaker in the eyes of investors.

FutureCar Staff 2021-05-26 13:35 PT

General Motors Announces ‘Ultium Charge 360’ a Nationwide EV Charging Network Designed for Convenience

General Motors Announces ‘Ultium Charge 360’ a Nationwide EV Charging Network Designed for Convenience

General Motors announced a new charging network called "Utium Charge 360", which is designed to make it easier for customers to charge their electric GM vehicles. Ultium Charge 360 integrates charging networks, GM vehicle mobile apps, and other products and services to simplify the overall charging experience for GM's future electric vehicle owners.

FutureCar Staff 2021-04-28 17:00 PT

General Motors Unveils the Production Version of the Electric Cadillac LYRIQ SUV at Auto Shanghai

General Motors Unveils the Production Version of the Electric Cadillac LYRIQ SUV at Auto Shanghai

Automaker General Motors unveiled the production version of the Lyriq for the first time at Auto Shanghai 2021, which is one of the world’s largest auto shows. The futuristic and sleek Lyriq represents the future of Cadillac, but also that of General Motors, as the company transitions to building more purely electric vehicles.

Eric Walz2021-04-21 15:00 PT

General Motors & LG Investing $2.3 billion in a New EV Battery Factory in Tennessee

General Motors & LG Investing $2.3 billion in a New EV Battery Factory in Tennessee

Ultium Cells LLC, the joint venture of LG Energy Solution and General Motors, today announced a $2.3 billion plus investment to build a second EV battery cell manufacturing plant in the U.S. The new facility will be located in Spring Hill, Tennessee. Construction on the approximately 2.8 million-square-foot EV battery plant will begin immediately GM said.

Eric Walz2021-04-16 10:25 PT

General Motors Launches Maps+, a New App-based Navigation System

General Motors Launches Maps+, a New App-based Navigation System

General Motors announced the launch of Maps+, a new in-vehicle, app-based navigation system for select model year 2018 and newer Chevrolet, Buick, GMC and Cadillac vehicles. Maps+ is powered by technology from mapping company Mapbox. It will begin rolling out to approximately 900,000 GM vehicles on April 30.

Eric Walz2021-04-12 12:10 PT

General Motors Confirms it Will Build an Electric Chevy Silverado Pickup, Sending its Stock Price to a Record High

General Motors Confirms it Will Build an Electric Chevy Silverado Pickup, Sending its Stock Price to a Record High

​Just days after teasing the new Hummer EV SUV, automaker General Motors is gearing up to build more electric pickup trucks, beginning with a battery-powered version of the popular Chevy Silverado. The electric Silverado will go into production late next year at GM’s Detroit-Hamtramck assembly plant, a source familiar with the U.S. automaker’s plan said on Tuesday.

FutureCar Staff 2021-04-06 15:40 PT

LG Energy Solutions to Invest $4.5 Billion in Electric Vehicle Battery Production in the U.S. Through 2025

LG Energy Solutions to Invest $4.5 Billion in Electric Vehicle Battery Production in the U.S. Through 2025

LG Energy Solution said on Thursday it plans to invest more than $4.5 billion in its U.S. battery production business through 2025 and add 4,000 jobs as it considers building at least two new U.S. plants. LG said the investment will add an additional 70GWh of U.S. battery production capacity.

FutureCar Staff 2021-03-11 12:30 PT

General Motors is Looking to Build a Second Electric Vehicle Battery Plant in the U.S.

General Motors is Looking to Build a Second Electric Vehicle Battery Plant in the U.S.

General Motors is looking to build a second battery plant in the U.S. with its South Korean battery partner LG Chem, citing people familiar with the company’s plans, the Wall Street Journal reports. According to the report, the two companies are close to an agreement to build a new EV battery plant in Tennessee. The automaker announced in Oct 2020 that it will invest $2 billion in its Spring Hill, Tennessee Manufacturing facility to build fully-electric vehicles.

Eric Walz2021-03-04 09:00 PT

SK Innovation Vows to Return to U.S. After Being Hit With a 10-Year International Trade Commission Ban on EV Battery Imports

SK Innovation Vows to Return to U.S. After Being Hit With a 10-Year International Trade Commission Ban on EV Battery Imports

​South Korean battery maker SK Innovation is vowing to return to producing electric vehicle batteries in the U.S. after being hit with a 10-year import ban by the U.S. International Trade Commission (ITC) over the theft of trade secrets from rival LG Energy Solutions (LG Chem). LG Chem filed its trade complaints against SK Innovation in 2019 and sought to block SK from producing battery cells in the United States as well as importing the components necessary to make battery cells.

FutureCar Staff 2021-02-16 16:25 PT

Volkswagen Blames its Suppliers for the Chip Shortages Affecting its Vehicle Production

Volkswagen Blames its Suppliers for the Chip Shortages Affecting its Vehicle Production

​The ongoing chip shortage is affecting auto production around the world, including that of German automaker Volkswagen AG, which is the world’s second biggest automaker. However the automaker is putting the blame on its suppliers. Volkswagen said bad planning on the part of its suppliers have only compounded the chip shortage affecting the global auto industry.

FutureCar Staff 2021-02-15 11:20 PT

GM Unveils the Bolt EUV, its First Mass-Market Electric Crossover That Offers 'Hands-Free' Driving

GM Unveils the Bolt EUV, its First Mass-Market Electric Crossover That Offers 'Hands-Free' Driving

On Sunday, General Motors unveiled the new Bolt EUV electric crossover. It's based on the Bolt EV hatchback that’s been on sale since 2017. GM’s Bolt EUV is an affordable choice for buyers looking for a fully-electric vehicle that's not a Tesla. It will be available this summer.

Eric Walz2021-02-14 17:15 PT

General Motors is the Latest Automaker Forced to Cut Production Due to Growing Chip Shortages

General Motors is the Latest Automaker Forced to Cut Production Due to Growing Chip Shortages

​U.S. automaker General Motors Co is the latest automaker hit by the global shortage of semiconductor chips, the company said on Wednesday. The growing shortages of chips, which are affecting automakers globally, is forcing GM to scale back production next week at four assembly plants.

Eric Walz2021-02-03 13:00 PT

General Motors Provides an Update on its Plans for a ‘Zero Emissions’ Electric Future at CES 2021

General Motors Provides an Update on its Plans for a ‘Zero Emissions’ Electric Future at CES 2021

With its first new logo in 50 years unveiled last week, U.S. automaker General Motors is getting ready for its electrified future. GM Chairman and CEO Mary Barra delivered the opening keynote at this year's virtual CES where she shared some updates on the company's vision of an electrified future. The automaker want to put everyone into an electric vehicle.

Eric Walz2021-01-12 16:50 PT

General Motors Once Again Teases its Upcoming Bolt 'Electric Utility Vehicle' Ahead of its 2021 Production Start

General Motors Once Again Teases its Upcoming Bolt 'Electric Utility Vehicle' Ahead of its 2021 Production Start

General Motors has once again teased its upcoming 2022 Bolt Electric Utility Vehicle (EUV), which will share most of its architecture with the Bolt EV hatchback. Production is set to begin in Summer 2021.

Manish Kharinta2020-12-30 09:30 PT

GM's Super Cruise Hands-Free Driving Feature Coming to the 2022 GMC Sierra 1500 Denali

GM's Super Cruise Hands-Free Driving Feature Coming to the 2022 GMC Sierra 1500 Denali

With Ford announcing that the F-150 is going to get similar hands-off technology, it looks like General Motors doesn’t want to fall behind in the pickup truck wars.

Vineeth Joel Patel2020-12-12 07:45 PT

GM’s Autonomous Driving Division Cruise Deploys its Self-driving Vehicles in San Francisco Without Human Backup

GM’s Autonomous Driving Division Cruise Deploys its Self-driving Vehicles in San Francisco Without Human Backup

GM’s Autonomous Driving Division Cruise said it was deploying five self-driving vehicles in San Francisco without human backup drivers. Cruise chief executive Dan Ammann made the announcement in a conference call Wednesday morning. Cruise was granted a permit in October that allows it to test autonomous vehicles in the city without a driver behind the wheel.

Eric Walz2020-12-09 16:05 PT

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